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.
Signal volume over time
1,191 dated signals shown · 53 undated (excluded from the chart).
Right Time Group, owned by PE firm Gryphon Investors, acquired Edmonton-based Romaniuk Heating and Air Conditioning in April 2021 - its sixth acquisition - giving it a foothold in Alberta.
“In April Right Time acquired Edmonton-based Romaniuk Heating and Air Conditioning, founded by Tony Romaniuk in 1989. Romaniuk was the sixth acquisition completed by Right Time”
Right Time Group of Companies announced the acquisition of Comfort Masters LTD in Ontario, its seventh acquisition, continuing its growth across Ontario.
“ST. CATHARINES, Ontario — Right Time Group of Companies announced the acquisition of Comfort Masters LTD. Comfort Masters is the seventh acquisition completed by Right Time.”
Roll-up platform Right Time Group of Companies acquired Comfort Masters LTD in Ontario, its seventh completed acquisition, continuing its growth across the province.
“ST. CATHARINES, Ontario — Right Time Group of Companies announced the acquisition of Comfort Masters LTD. Comfort Masters is the seventh acquisition completed by Right Time.”
Grove Mountain Partners brought together 12 independent service-providing businesses to form Unique Indoor Comfort beginning in June 2021. The platform focused on residential and light-commercial HVAC, plumbing, and electrical services.
“Grove Mountain brought together 12 independent service-providing businesses located in the East and Midwest beginning in June 2021.”
CoolSys frames the TRS-SESCO deal as part of an explicit strategic growth plan, bringing new capabilities and entering new industry sectors as a nationwide consolidator.
““Our acquisition of TRS-SESCO represents an important step in our strategic growth plan by bringing new capabilities to our clients while introducing CoolSys into new industry sectors,” said Adam Coffey, CEO of CoolSys.”
CoolSys announced the acquisition of Thermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO), an HVAC-engineered solutions and grocery-retail energy/sustainability provider, expanding CoolSys into new industry sectors.
“BREA, Calif. — CoolSys has announced the acquisition of Thermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO).”
Southern HVAC Corporation announced the acquisition of Dial Plumbing and Air Conditioning, a Florida home-service provider, as part of its roll-up of HVAC/plumbing businesses.
“MAITLAND, Fla. — Southern HVAC Corporation announced the acquisition of Dial Plumbing and Air Conditioning.”
The SEER Group LLC announced its fourteenth acquisition, Sturm Heating & Air Conditioning, its second acquisition in the Spokane market after acquiring The Barton Boys in 2019. The deal reinforces its Spokane position and supports a national growth plan.
“The SEER Group LLC announced its fourteenth acquisition, Sturm Heating & Air Conditioning. This is the second acquisition for The SEER Group LLC in Spokane after its acquisition of The Barton Boys in 2019.”
The SEER Group LLC announced its fourteenth acquisition, Sturm Heating & Air Conditioning, its second acquisition in the Spokane market, supporting a national growth plan.
“REDMOND, Wash. — The SEER Group LLC announced its fourteenth acquisition, Sturm Heating & Air Conditioning. This is the second acquisition for The SEER Group LLC in Spokane after its acquisition of The Barton Boys in 2019.”
Southern HVAC Corporation, a PE-backed home-services roll-up, announced its acquisition of Mission Plumbing, Heating and Cooling in Kansas City, adding it as the newest member of the Southern HVAC family.
“KANSAS CITY, Kansas — Southern HVAC Corporation announced its recent acquisition of Mission Plumbing, Heating and Cooling.”
Southern HVAC Corporation acquired Five Star Plumbing, Heating and Cooling in Greenville, S.C. — its ninth acquisition overall and first in South Carolina. The deal provided a retirement exit for Five Star's owner; the brand will be retained as part of the Southern HVAC platform.
“Southern HVAC Corporation announced its recent acquisition of Five Star Plumbing, Heating and Cooling. Five Star will retain its current brand while gaining support from Southern HVAC’s services support teams. Five Star represents Southern HVAC’s ninth acquisition overall and first acquisition in South Carolina.”
The acquisition of Duquette Refrigeration is part of CoolSys's strategy to become a nationwide service provider, specifically broadening its presence in the Northeast region.
“The acquisition is designed to strengthen CoolSys’s commercial and industrial division and broaden its presence in the Northeast region.”
Horizon Group Holdings acquired Hurley & David, a plumbing/HVAC contractor, marking its seventh acquisition in the trailing twelve months and expanding its footprint into western Massachusetts.
“Horizon Group Holdings has announced the acquisition of Hurley & David. The partnership marks HGH’s seventh acquisition in the last twelve months.”
Horizon Group Holdings' acquisition of Hurley & David marks its seventh acquisition in the last twelve months, evidencing an active roll-up acquisition pace.
“The partnership marks HGH’s seventh acquisition in the last twelve months.”
Horizon Group Holdings acquired Hurley & David, a plumbing, heating, and air company, expanding its footprint into western Massachusetts. This marks HGH's seventh acquisition in twelve months, signaling active roll-up consolidation.
“NEWARK, Del. — Horizon Group Holdings has announced the acquisition of Hurley & David. The partnership marks HGH’s seventh acquisition in the last twelve months.”
San Francisco PE firm Gryphon Investors completed a majority investment in Right Time Group, a residential HVAC contractor group, in December 2020, establishing Right Time as a PE-backed roll-up platform pursuing a national footprint.
“Right Time Group of Companies, a residential HVAC contractor group owned by San Francisco-based private equity firm Gryphon Investors with regional locations in Ontario, Manitoba and B.C., has acquired Atlas Service Company Inc. based in Oakville, Ont. and owned by CEO Roger Grochmal since 1986.”
Gryphon Investors-backed Right Time Group acquired Atlas Service Company (AtlasCare) of Oakville, Ontario - its fifth acquisition and the first since Gryphon's December 2020 majority investment in Right Time.
“AtlasCare is the fifth acquisition completed by Right Time, and the first following the Group’s acquisition by Gryphon in [December 2020](https://www.gryphon-inv.com/news-article/gryphon-investors-completes-majority-investment-in-right-time-heating-and-air-conditioning/).”
AtlasCare's CEO characterized Right Time as the leading consolidator in the Canadian residential HVAC and plumbing industry, citing its track record of integrating strong local companies into a national brand.
“Their track record of integrating strong local companies into their national brand sets them apart as the leading consolidator in the Canadian residential HVAC and plumbing industry.”
Canadian residential HVAC/plumbing consolidator Right Time Group of Companies acquired AtlasCare (Atlas Service Company Inc.); terms were not disclosed and the management and employees join Right Time.
“ST. CATHARINES, Ontario — Right Time Group of Companies announced the acquisition of Atlas Service Company Inc. Management and employees of AtlasCare will join the Right Time team. Terms of the transaction were not disclosed.”
AtlasCare's CEO described Right Time as the leading consolidator in the Canadian residential HVAC and plumbing industry, citing its track record of integrating strong local companies into a national brand.
“Their track record of integrating strong local companies into their national brand sets them apart as the leading consolidator in the Canadian residential HVAC and plumbing industry.”
Right Time Group of Companies acquired Atlas Service Company Inc. (AtlasCare), continuing its growth in the Canadian residential HVAC and plumbing market. Terms were not disclosed.
“ST. CATHARINES, Ontario — Right Time Group of Companies announced the acquisition of Atlas Service Company Inc. Management and employees of AtlasCare will join the Right Time team. Terms of the transaction were not disclosed.”
Reedy Industries’ Building Automation Solutions (BAS) division has acquired Control Works, Inc., a Madison, Wisconsin-based building automation and controls services provider.
“Reedy Industries’ Building Automation Solutions (BAS) division has acquired Control Works, Inc., a Madison, Wisconsin-based building automation and controls services provider.”
EMCOR Group, Inc. elected Major General (U.S. Army, Retired) Ronald L. Johnson to its Board of Directors, effective March 1, 2021. This is a leadership change at a major publicly traded mechanical/electrical construction and facilities services firm, which is relevant to the home-service and commercial HVAC consolidation landscape.
“On February 23, 2021, the Board of Directors (the “Board”) of EMCOR Group, Inc. (the “Company”) elected Major General (U.S. Army, Retired) Ronald L. Johnson to the Board, effective as of March 1, 2021”
Horizon Group Holdings acquired Maitz Home Services in Allentown, Pennsylvania, its fourth acquisition over the past twelve months.
“Horizon Group Holdings (HGH) announced the acquisition of Maitz Home Services in Allentown, Pennsylvania. Maitz marks the fourth acquisition for HGH over the last twelve months.”
Gold Medal Service, a subsidiary of Horizon Group Holdings, acquired A-Absolute Plumbing, Heating, and Air in Roselle, New Jersey, marking HGH's fifth acquisition over the past twelve months.
“Gold Medal Service, a subsidiary of Horizon Group Holdings (HGH), announced the acquisition of A-Absolute Plumbing, Heating, and Air (“A-Absolute”) in Roselle, New Jersey. A-Absolute marks the fifth acquisition for HGH over the last twelve months.”
HGH's chairman framed the Eanes deal as advancing a strategy of growing in the Southeast, both organically and through further acquisition.
“The acquisition of Eanes furthers HGH’s strategic goals of growing in the Southeast, and we look forward to accelerating Eanes' growth both organically and through acquisition.”
Horizon Group Holdings, a home-services consolidator, acquired Eanes Heating & Air Conditioning of High Point, NC. The article notes it is HGH's third acquisition in the prior twelve months, signaling an active roll-up.
“NEWARK, Del. — Horizon Group Holdings announced the acquisition of Eanes Heating & Air Conditioning in High Point, North Carolina. Eanes marks the third acquisition for HGH over the last twelve months.”
Horizon Group Holdings frames the Eanes deal as furthering its strategic goal of growing in the Southeast and plans to grow Eanes both organically and through further acquisition.
“The acquisition of Eanes furthers HGH’s strategic goals of growing in the Southeast, and we look forward to accelerating Eanes' growth both organically and through acquisition.”
Horizon Group Holdings acquired Eanes Heating & Air Conditioning in High Point, North Carolina, its third acquisition in the past twelve months, advancing its strategy of growing in the Southeast.
“Horizon Group Holdings announced the acquisition of Eanes Heating & Air Conditioning in High Point, North Carolina. Eanes marks the third acquisition for HGH over the last twelve months.”
CoolSys describes C.E. Holt as its fourth acquisition in 2020, all along the East Coast from South Carolina to Connecticut, part of an aggressive growth strategy toward becoming a national service provider.
““The acquisition of C.E. Holt was our fourth in 2020, all of which were along the East Coast, stretching from South Carolina to Connecticut,” said Adam Coffey, CEO of CoolSys. “This strategic acquisition builds density in the Southeast market and continues our aggressive growth strategy with the goal of becoming a national service provider.”
CoolSys acquired C.E. Holt Refrigeration Inc., increasing its market presence across North and South Carolina, Virginia, and Georgia.
“BREA, Calif. — CoolSys announced it has acquired C.E. Holt Refrigeration Inc. This acquisition increases market presence for CoolSys in North and South Carolina, Virginia, and Georgia.”
CoolSys acquired C.E. Holt Refrigeration Inc., increasing its presence in North and South Carolina, Virginia, and Georgia. It was CoolSys's fourth acquisition in 2020 as part of an aggressive growth strategy toward becoming a national service provider.
“BREA, Calif. — CoolSys announced it has acquired C.E. Holt Refrigeration Inc. This acquisition increases market presence for CoolSys in North and South Carolina, Virginia, and Georgia.”
CoolSys, a national refrigeration/HVAC services parent, acquired C.E. Holt Refrigeration of Charlotte, NC — its fourth acquisition in 2020 — to build density in the Southeast and expand presence across NC, SC, VA, and GA.
“CoolSys™, the parent of refrigeration and HVAC services companies nationwide, acquired C.E. Holt Refrigeration Inc., a commercial refrigeration and HVAC company headquartered in Charlotte, North Carolina. This acquisition increases market presence for CoolSys in North Carolina, South Carolina, Virginia, and Georgia, which are strategic growth states for the company.”
CoolSys, the parent of refrigeration and HVAC services companies nationwide, acquired C.E. Holt Refrigeration, a commercial refrigeration and HVAC company in Charlotte, NC, expanding CoolSys density in the Southeast.
“CoolSys™, the parent of refrigeration and HVAC services companies nationwide, acquired C.E. Holt Refrigeration Inc., a commercial refrigeration and HVAC company headquartered in Charlotte, North Carolina.”
CoolSys acquired C.E. Holt Refrigeration, a commercial refrigeration and HVAC company in Charlotte, NC, building density in the Southeast as part of an aggressive roll-up growth strategy toward becoming a national service provider.
“On 05 January CoolSys announced that it has acquired C.E. Holt Refrigeration, Inc., a commercial refrigeration and HVAC company headquartered in Charlotte, North Carolina.”
Redwood Services acquired Rite Way, a Tucson-based HVAC company, the year before buying Rice's business. Under Redwood, Rite Way's annual revenue grew from $30 million to around $70 million.
“Rite Way, a larger Tucson-based HVAC operation that Redwood acquired the year before.”
Partners Group acquired Reedy Industries in 2021 at roughly $1 billion enterprise value and rebranded it as PremiStar, creating a commercial HVAC roll-up platform. The platform has since grown to 62 branches across 19 states with over 3,100 employees and $2.09 billion in total platform funding.
“Partners Group acquired Reedy Industries in 2021 at roughly a $1 billion enterprise value. The firm rebranded the platform PremiStar and handed CEO Joe Kirmser a mandate: consolidate fragmented commercial HVAC service providers across the country.”
Comfort Systems USA's Board of Directors approved an amendment to increase the authorized shares under its stock repurchase program, allowing the company to buy back up to an additional 1,000,000 shares.
“the Company’s Board of Directors has approved an amendment to the Company’s stock repurchase program to increase the shares authorized and remaining as available to purchase back up to 1,000,000 shares by authorizing the Company to acquire up to 745,582 additional shares of its outstanding common stock.”
Comfort Systems USA announced that Trent T. McKenna will transition from Senior Vice President to Chief Operating Officer, effective January 1, 2021. This is an internal leadership change at a publicly traded HVAC consolidator.
“On December 11, 2020, Comfort Systems USA, Inc. (the “Company”) announced that Trent T. McKenna will transition from his current role as Senior Vice President and Vice President – Region 4 to Chief Operating Officer within the Company, effective January 1, 2021.”
Air Pros USA acquired One Source Home Service in Colorado Springs and Pueblo, with the target retaining its brand and joining Air Pros USA's multi-state family of companies (FL, GA, CO, TX, WA).
“COLORADO SPRINGS, Colo. — Air Pros Residential and Commercial Air Conditioning Services announced the acquisition of One Source Home Service. Under the agreement, One Source will continue operating under its existing brand in Colorado Springs and Pueblo areas, while becoming a part of Air Pros USA’s family of companies.”
Air Pros USA acquired One Source Home Service in Colorado Springs and Pueblo; One Source keeps its brand and its owners, Scott and Jason Bidwell, remain to lead the local office and help grow Air Pros USA nationally.
“Air Pros Residential and Commercial Air Conditioning Services announced the acquisition of One Source Home Service. Under the agreement, One Source will continue operating under its existing brand in Colorado Springs and Pueblo areas, while becoming a part of Air Pros USA’s family of companies.”
Apex Service Partners describes its roll-up model as providing investment for premier service brands to grow while keeping their existing brands and operations intact, positioning itself as a capital and resource partner rather than an operator.
“we provide investment for these premier service brands to grow.”
