Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a
verbatim quote from its source. 1244 signals in the record.
Signals are reports drawn from public coverage and print archives, presented as reported by their
sources. Naming a company in a signal is not an accusation against it. See our methodology and legal notes.
PE firm SkyKnight Capital launched FirstCall Mechanical Group, a commercial HVAC/refrigeration/electrical/plumbing services platform, partnering with founder/CEO Evan Eachus.
“SkyKnight Capital L.P., a private equity firm, announced that it has launched FirstCall Mechanical Group, a commercial services platform providing mission critical HVAC, refrigeration, electrical, and plumbing services to commercial and industrial customers including distribution centers, universities, industrial facilities, and government entities.”
Sila Services framed the Central Cooling & Heating acquisition as continuing its customer-focused growth strategy and platform expansion across New England.
“We're excited to continue our customer-focused growth strategy in the New England region in partnership with”
PE-backed home-services platform Sila Services acquired Central Cooling & Heating Inc., a Woburn, Mass.-based HVAC provider serving the Greater Boston area, as part of its New England expansion.
“Sila Services LLC has acquired Central Cooling & Heating Inc., a provider of air conditioning, heating, and indoor air quality services in the”
An image caption notes Sila Services had acquired T-Mark Plumbing, Heating, Cooling & Electric in western New York.
“Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.”
Sila framed the deal as part of a continued growth strategy expanding across New England and beyond, with the acquired brand joining the broader Sila platform.
“As Sila Services continues to expand across New England and beyond, the combination of our innovative operational support resources with high-performing, distinctive home services brands will continue to create opportunities for our expert team members and growth for the broader Sila Services platform,”
Sila Services LLC, a home-services roll-up platform, acquired Central Cooling & Heating Inc., a Greater Boston HVAC provider, expanding its New England footprint.
“Sila Services LLC has acquired Central Cooling & Heating Inc., a provider of air conditioning, heating, and indoor air quality services in the Greater Boston area.”
The Nevada Heating deal is framed as the latest in a series of acquisitions/partnerships Goettl has made with HVAC and plumbing companies, including 2022 entries into Texas and California.
“This acquisition is the latest in a series of partnerships made by Goettl with HVAC and plumbing companies to expand its reach and bring its services to new markets. In 2022, Goettl extended its footprint to Texas and California and continues to look at additional markets for expansion with industry leading HVAC and plumbing companies.”
HVACPlumbing
www.achrnews.com Goettl announced a leadership change: president Jake Gress promoted to CEO, outgoing CEO Ken Goodrich becoming chairman, and John Landefeld named CFO.
“Goettl Air Conditioning & Plumbing president Jake Gress is being promoted to CEO, current CEO Ken Goodrich will continue as chairman, and John Landefeld was recently named the company's CFO.”
HVACPlumbing
www.achrnews.com Goettl reported 30%+ YoY growth and laid out an expansion plan to enter three to four new markets with 10 or more acquisitions and job growth in each.
“The company’s strategic plans include entering three to four new markets with 10 or more acquisitions and job growth in each market.”
HVACPlumbing
www.achrnews.com Southwest residential HVAC/plumbing roll-up Goettl acquired family-owned Nevada Heating, Cooling, Plumbing, Fireplace Inc. in Reno, Nevada as part of its acquisitional growth strategy.
“Goettl Air Conditioning & Plumbing, a provider of residential HVAC and plumbing services across the Southwest, announced that is has acquired Nevada Heating, Cooling, Plumbing, Fireplace Inc. in Reno, Nevada as part of its ongoing acquisitional growth strategy.”
HVACPlumbing
www.achrnews.com Goettl announced over 30% YoY growth and plans to enter three to four new markets with 10 or more acquisitions in each, continuing Southwest expansion.
“The company’s strategic plans include entering three to four new markets with 10 or more acquisitions and job growth in each market.”
Goettl Air Conditioning & Plumbing acquired Reno-based Nevada Heating, Cooling, Plumbing, Fireplace Inc. as part of its acquisitional growth strategy, adding fireplace service and expanding in its home state.
“Goettl Air Conditioning & Plumbing, a provider of residential HVAC and plumbing services across the Southwest, announced that is has acquired Nevada Heating, Cooling, Plumbing, Fireplace Inc. in Reno, Nevada as part of its ongoing acquisitional growth strategy.”
Sila Services frames the acquisition as part of a customer-focused growth strategy, expanding across New England and beyond and adding distinctive home-services brands to the broader Sila platform.
“As Sila Services continues to expand across New England and beyond, the combination of our innovative operational support resources with high-performing, distinctive home services brands will continue to create opportunities for our expert team members and growth for the broader Sila Services platform.”
An image caption notes Sila Services has also acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.
“Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.”
ElectricalHVACPlumbing
www.achrnews.com Sila Services LLC acquired Central Cooling & Heating Inc., a Woburn, Massachusetts HVAC contractor serving Greater Boston, expanding the Sila platform across New England.
“Sila Services LLC has acquired Central Cooling & Heating Inc., a provider of air conditioning, heating, and indoor air quality services in the Greater Boston area.”
Image caption notes Sila Services previously acquired T-Mark Plumbing, Heating, Cooling & Electric in western New York.
“Sila Services has acquired T-Mark Plumbing, Heating, Cooling & Electric, a company in western New York.”
Sila Services LLC acquired Central Cooling & Heating Inc., a Greater Boston HVAC provider, continuing its New England growth strategy.
“Sila Services LLC has acquired Central Cooling & Heating Inc., a provider of air conditioning, heating, and indoor air quality services in the Greater Boston area.”
Salvatore Sidoti Jr. will remain as president of Sal's Heating & Cooling, and Marilyn Sidoti will transition as an acquisition specialist following the acquisition by User Friendly Home Services.
“Sal Jr., who will remain with the company as president of Sal's Heating & Cooling, now leads the team alongside his wife, Marilyn, who will transition with the company as an acquisition specialist.”
With the acquisition of Sal's Heating & Cooling, User Friendly Home Services has extended its national network of HVAC and home service companies to 10 locations, indicating ongoing roll-up activity.
“User Friendly Home Services has extended its national network of HVAC and home service companies to 10 with the Sal's acquisition.”
User Friendly Home Services announced the acquisition of Sal's Heating & Cooling in North Royalton, Ohio. This expands User Friendly's national network of HVAC and home service companies to 10. Sal's Heating & Cooling, founded in 1975, provides HVAC, indoor air quality, water heater, plumbing, and sewer services.
“User Friendly Home Services announced the acquisition of Sal's Heating & Cooling in North Royalton, Ohio.”
The M and M deal adds to Service Champions' prior 2021 acquisition of SWAN Heating and Air Conditioning Inc., an established player in the Loveland and Denver metro areas.
“This acquisition marks Service Champions' continued expansion and strengthened market position in the
Denver
metropolitan area adding to its 2021 acquisition of Swan Heating and Air Conditioning Inc. an established player in the
Loveland
and
Denver
metro areas.”
The M and M deal adds to Service Champions' 2021 acquisition of Swan Heating and Air Conditioning Inc. in the Loveland and Denver metro areas.
“adding to its 2021 acquisition of Swan Heating and Air Conditioning Inc. an established player in the Loveland and Denver metro areas.”
In a NEWSMakers podcast, Wrench Group CEO Ken Haines discusses the private equity-driven mergers and acquisitions trend in the HVAC industry.
“Haines discusses the private equity mergers and acquisitions trend in the HVAC industry.”
On The NEWSMakers podcast, Wrench Group CEO Ken Haines discusses the private equity mergers and acquisitions trend in the HVAC industry.
“Haines discusses the private equity mergers and acquisitions trend in the HVAC industry.”
Strikepoint Group Holdings, a home-services rollup formerly known as Horizon Group Holdings, acquired Jacksonville-based residential HVAC/IAQ company Air McCall Inc.
“Strikepoint Group Holdings (SGH), formerly Horizon Group Holdings, a home services company, announced that it has recently acquired Air McCall Inc., a residential air conditioning and indoor air quality company serving customers throughout Florida’s Jacksonville communities.”
The Dunn deal is the 16th acquisition completed by Right Time as it executes its growth strategy of adding residential HVAC and home-services locations across Canada.
“Dunn Heating and Air Conditioning is the 16th acquisition completed by Right Time as it continues to execute its growth strategy.”
The article identifies Gryphon Investors, a middle-market PE firm, as majority owner of Right Time, which continuously seeks to add residential HVAC and home-services locations across Canada.
“Right Time is majority-owned by Gryphon Investors, a middle-market private equity firm.”
Right Time Group of Companies, majority-owned by Gryphon Investors, acquired Waterloo, Ontario-based Dunn Heating ClimateCare—its 16th acquisition—continuing its Canadian residential HVAC roll-up.
“Right Time Group of Companies announced the acquisition of Waterloo-based Dunn Heating ClimateCare, which now operates as Dunn Heating and Air Conditioning.”
As part of its growth strategy, Air Pros built out a professional management team, with founder Anthony Perera stepping down as president in favor of Robert DiPietro, former managing director of HomeServe USA.
“Perera has also stepped down from his role of president and welcomed Robert DiPietro, former managing director of HomeServe USA, in his place.”
Air Pros USA completed eight acquisitions during 2022 as part of its rapid roll-up growth, reaching roughly 1,000 employees and just over $200 million in revenue.
“In 2022, Air Pros acquired eight businesses, the last one announced in early December, which Perera said was a “pretty big one.””
Air Pros USA raised $50 million from Peak Rock Capital of Austin, Texas to fund further acquisitions; the article notes Air Pros remained one of the few privately held, non-equity-sponsored HVAC platforms.
“He added that a year and a half ago, the company had raised $50 million from Peak Rock Capital in Austin, Texas to grow the business through more acquisitions.”
The article identifies Right Time's PE sponsor (Gryphon Investors) and states the platform is continuously looking to add residential HVAC and home-services locations to its Canadian network.
“Right Time is continuously looking to add new residential HVAC and home services locations to its existing network in Canada. Right Time is majority-owned by Gryphon Investors, a middle-market private equity firm.”
Right Time describes ongoing execution of its growth strategy, with Dunn marking its 16th completed acquisition and continued appetite for new residential HVAC and home-services locations across Canada.
“Dunn Heating and Air Conditioning is the 16th acquisition completed by Right Time as it continues to execute its growth strategy.”
Right Time Group of Companies, majority-owned by PE firm Gryphon Investors, acquired Ontario-based Dunn Heating ClimateCare, its 16th acquisition as it executes a residential HVAC roll-up strategy.
“Right Time Group of Companies announced the acquisition of Waterloo-based Dunn Heating ClimateCare, which now operates as Dunn Heating and Air Conditioning.”
As part of its growth, Air Pros added a professional management team, with founder Perera stepping down as president and Robert DiPietro, former HomeServe USA managing director, taking the role.
“Perera has also stepped down from his role of president and welcomed Robert DiPietro, former managing director of HomeServe USA, in his place.”
Air Pros USA acquired eight businesses in 2022, growing to roughly 1,000 employees and over $200 million revenue, illustrating rapid HVAC roll-up consolidation.
“In 2022, Air Pros acquired eight businesses, the last one announced in early December, which Perera said was a “pretty big one.” The company now has roughly 1,000 employees and generates just over $200 million in revenue, he said.”
Air Pros USA founder Anthony Perera said the company raised $50 million from Peak Rock Capital in Austin to fund acquisitions, while emphasizing it remained largely founder-controlled and non-equity-sponsored.
“the company had raised $50 million from Peak Rock Capital in Austin, Texas to grow the business through more acquisitions.”
Expansion Dec 2022 · United States (8 states) Air Pros USA describes its national scale: nearly 600 vehicles, 1000+ technicians/staff, ~700,000 customers, operating in eight states and more than a dozen metro areas, signaling an ongoing platform roll-up.
“Nationally, Air Pros USA has nearly 600 vehicles, over 1000 technicians and staff, and has grown a customer base to nearly 700,000. Air Pros USA operates in eight states and more than a dozen metro areas including Miami, Orlando, Dallas, Atlanta, Colorado Springs, Mobile, and Seattle”
Air Pros USA acquired ECM Air Conditioning, a family-owned HVAC, plumbing, and electric company in South Florida, integrating it as a platform add-on while keeping ECM as the flagship local brand.
“Air Pros USA announced the acquisition of East Coast Mechanical (ECM Air Conditioning), a family-owned air conditioning, plumbing, and electric company in South Florida. This acquisition strengthens Air Pros USA as a home services business in the Florida market.”
ElectricalHVACPlumbing
www.achrnews.com Air Pros USA operates a national platform with nearly 600 vehicles, over 1000 staff, ~700,000 customers, across eight states and more than a dozen metros, integrating acquired brands.
“Nationally, Air Pros USA has nearly 600 vehicles, over 1000 technicians and staff, and has grown a customer base to nearly 700,000. Air Pros USA operates in eight states and more than a dozen metro areas”
Air Pros USA acquired South Florida family-owned HVAC, plumbing, and electric company East Coast Mechanical (ECM Air Conditioning), its largest acquisition in its South Florida home market.
“Air Pros USA announced the acquisition of East Coast Mechanical (ECM Air Conditioning), a family-owned air conditioning, plumbing, and electric company in South Florida.”
Ken Haines states Wrench Group is on its third private equity flip after roughly six years, having grown from a few hundred to over 6,000 employees.
“we've been doing it now for six years and we're on our third private equity flip.”
The combined Coolray/Parker & Sons/Abacus group was sold to New York PE firm Investcorp in March 2016; Haines was appointed CEO in July 2016, describing it as the beginning of private equity in the space.
“So we sold it to a PE firm called Invest Corp based in New York in March of 2016. And they appointed me CEO in July of 16.”
Around late 2015 Ken Haines combined his Coolray business with Paul Kelly's Parker and Sons and Alan O'Neill's Abacus (Houston), hired a banker, and presented the group to private equity.
“To jump ahead, around late 2015, a friend of mine, Paul Kelly, who owned a company called Parker and Sons, Alan O 'Neill at Abacus in Houston. We came together and packaged the business up.”
After Blue Dot's parent went bankrupt, Ken Haines bought the Cool Ray Atlanta HVAC business from his employer in 2003 (then doing roughly $5M).
“And so I ended up buying the business from my employer in 2003.”
Wrench Group, led by CEO Ken Haines, is a PE-backed home-services consolidator operating across 25 markets in 14 states.
“which operates in 25 markets across 14 states”
Goettl announced a leadership reshuffle: president Jake Gress is being promoted to CEO, current CEO Ken Goodrich will continue as chairman, and John Landefeld was named CFO.
“Goettl Air Conditioning & Plumbing president Jake Gress is being promoted to CEO, current CEO Ken Goodrich will continue as chairman, and John Landefeld was recently named the company's CFO.”
The two acquisitions extend Goettl's footprint to a fifth Southern California branch and signal its entry into the Reno/Northern Nevada market under its 'Goettlize the Nation' strategy.
“Both are a part of Goettl’s “Goettlize the Nation” strategy and will serve as significant additions to Goettl’s market presence.”
Goettl Air Conditioning & Plumbing acquired two HVAC contractors as part of its 'Goettlize the Nation' expansion strategy, marking its fifth Southern California branch and its entry into the Reno, Nevada market.
“Goettl Air Conditioning & Plumbing, a provider of HVAC and plumbing services, announced two newly acquired businesses: SoCal Airflow Pros in Rancho Santa Margarita, California and 4 Seasons Heating & Cooling in Reno, Nevada.”
HVACPlumbing
www.achrnews.com Expansion Dec 2022 · Southern California, Northern Nevada The acquisitions are part of Goettl's national expansion strategy, with 4 Seasons marking entry into the Reno market and SoCal Airflow Pros becoming its fifth Southern California branch.
“Both are a part of Goettl’s “Goettlize the Nation” strategy and will serve as significant additions to Goettl’s market presence.”
