Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a
verbatim quote from its source. 1670 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
1,577 dated signals shown · 93 undated (excluded from the chart).
The SEER Group LLC acquired a majority stake in Aladdin Air Conditioning & Heating Inc. of Newbury Park, California. It is described as SEER's twentieth acquisition overall and seventh this year.
“The SEER Group LLC announced its twentieth acquisition, a majority stake in Aladdin Air Conditioning & Heating Inc., in Newbury Park, California. This is the seventh acquisition for The SEER Group this year.”
Thompson Street Capital Partners portfolio company Len The Plumber acquired Russo Bros. & Co., a residential HVAC, plumbing, electrical and indoor air quality services provider in East Hanover, New Jersey. The add-on expands Len The Plumber’s service footprint into northern New Jersey.
“Thompson Street Capital Partners portfolio company Len The Plumber has acquired Russo Bros. & Co., a residential HVAC, plumbing, electrical and indoor air quality services provider based in East Hanover, New Jersey. The deal is an add-on to expand Len The Plumber’s service footprint into northern New Jersey; co-owner Matt Russo will remain to run the business while co-owner Mark Russo will transition out and retire. Terms were not disclosed.”
Canadian residential HVAC roll-up Right Time Group of Companies acquired Climate Air Heating & Air Conditioning of Barrie, Ontario, its eleventh acquisition. Terms were not disclosed.
“Right Time Group of Companies (Right Time) announced the acquisition of Climate Air Heating & Air Conditioning.”
Canada's Right Time Group of Companies acquired Climate Air Heating & Air Conditioning, a residential HVAC company in Barrie, Ontario. It is the eleventh acquisition completed by Right Time. Terms were not disclosed.
“Right Time Group of Companies (Right Time) announced the acquisition of Climate Air Heating & Air Conditioning.”
Wrench Group has rapidly consolidated home-services businesses, adding 14 brands since March 2020 and expanding into its 18th market and fourth Midwest market with the Buckeye deal.
“Wrench has now added 14 home services brands to its roster since March, 2020.”
PE-backed home-services platform Wrench Group acquired Columbus-area HVAC contractor Buckeye Heating & Cooling, its 24th brand and 18th market nationwide; Buckeye will operate under the Williams Comfort Air banner. Terms were not disclosed.
Buckeye is Wrench's 24th brand and 18th market; Wrench has added 14 home services brands since March 2020, underscoring an aggressive roll-up pace.
“Worthington, Ohio-based Buckeye becomes the 24 th company in the Wrench family of brands and represents Wrench’s expansion into its 18 th market nationwide and its fourth market in the Midwest. Wrench has now added 14 home services brands to its roster since March, 2020.”
Wrench Group acquired Buckeye Heating & Cooling in Columbus, Ohio, making it the 24th company in the Wrench family of brands and Wrench's expansion into its 18th market nationwide; Buckeye will operate under the Williams Comfort Air banner.
“Wrench Group, LLC (“Wrench”) announced it has acquired Buckeye Heating & Cooling (“Buckeye”), a provider of air conditioning and heating services in the Columbus area since 1948.”
CoolSys, a national refrigeration/HVAC/energy services platform, acquired Triangle Refrigeration, a commercial HVAC, refrigeration, plumbing and monitoring services provider across PA, MD, NJ and NY, building on prior regional acquisitions.
“CoolSys™, a refrigeration, HVAC, engineering, and energy solutions company, acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions, complementing service coverage areas strengthened by prior acquisitions in those regions.”
CoolSys, a refrigeration/HVAC/energy solutions consolidator, acquired Triangle Refrigeration to expand its presence in the Northeast and Mid-Atlantic, complementing prior regional acquisitions.
“CoolSys™, a refrigeration, HVAC, engineering, and energy solutions company, acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions, complementing service coverage areas strengthened by prior acquisitions in those regions.”
Brower Mechanical's GM Duane Knickerbocker says he sought a partner to help manage and lower overhead amid uncertainty in the HVAC world, reflecting owner sentiment driving sell-side roll-up activity.
““With all of the uncertainty in the HVAC world, I was looking to partner with a company that could help manage and hopefully lower our overhead,” says Brower Mechanical GM, Duane Knickerbocker.”
The article frames the Brower Mechanical deal as evidence of The SEER Group's commitment to expanding in California while continuing to grow nationally.
“This acquisition highlights The SEER Group’s commitment to expanding in California while continuing to grow nationally.”
The SEER Group LLC announced its seventeenth acquisition, taking a majority stake in Brower Mechanical of Rocklin, CA. It is the platform's second California acquisition (after Breeze Air Conditioning in 2018), with founder Duane Knickerbocker staying on as partner/GM.
“The SEER Group LLC announced Nov. 11 its seventeenth acquisition, a majority stake in Brower Mechanical in Rocklin, CA. This is the second acquisition for The SEER Group LLC in California after its acquisition of Breeze Air Conditioning in Palm Desert, CA in 2018.”
The SEER Group · Platform Breeze Air Conditioning · Mentioned Brower Mechanical · Target Darrin Erdahl · Mentioned Duane Knickerbocker · Mentioned Eric Beardemphl · Mentioned
The SEER Group LLC announced its seventeenth acquisition, a majority stake in Brower Mechanical of Rocklin, CA, its second acquisition in California, with founder leadership retained.
“The SEER Group LLC announced Nov. 11 its seventeenth acquisition, a majority stake in Brower Mechanical in Rocklin, CA. This is the second acquisition for The SEER Group LLC in California after its acquisition of Breeze Air Conditioning in Palm Desert, CA in 2018.”
CoolSys positioned the Triangle Refrigeration acquisition as a geographic expansion of its national service footprint across the Northeast and Mid-Atlantic.
“With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions.”
Refrigeration and HVAC services consolidator CoolSys acquired Leola, PA-based Triangle Refrigeration, a commercial HVAC/refrigeration/plumbing/monitoring provider, expanding CoolSys's presence in the Northeast and Mid-Atlantic.
“CoolSys announced Nov.10 it has acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York.”
CoolSys, a national refrigeration and HVAC service provider, acquired Triangle Refrigeration, a commercial HVAC/refrigeration/plumbing services provider, expanding its footprint across Pennsylvania, Maryland, New Jersey, and New York.
“CoolSys announced Nov.10 it has acquired Triangle Refrigeration, a provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions.”
Murphy Company, a mechanical contractor in Missouri and Colorado, has closed the asset acquisition of St. Louis-based State Mechanical. The deal is intended to expand Murphy's refrigeration construction and service capabilities by integrating State's team and resources.
“ST. LOUIS – Murphy Company, a mechanical contractor based in Missouri and Colorado, has closed on the asset acquisition of State Mechanical. State Mechanical is based in St. Louis and has provided refrigeration construction and service expertise since 1991.”
CoolSys acquired Triangle Refrigeration, a commercial HVAC, refrigeration, plumbing and monitoring services provider, expanding its presence in the Northeast and Mid-Atlantic, complementing prior regional acquisitions.
“CoolSys announced it has acquired Triangle Refrigeration, a leading provider of commercial HVAC, refrigeration, plumbing, and monitoring services in Pennsylvania, Maryland, New Jersey, and New York. With this acquisition, CoolSys expands its market presence throughout the Northeast and Mid-Atlantic regions, complementing service coverage areas strengthened by prior acquisitions in those regions.”
Bonney stated its plan to invest in several founder-owned companies over the next few years to build a regional leader in home services. This follows their September acquisition of Big Air Heating & Air Conditioning to expand into the Bay Area.
“Bonney plans to invest in several founder-owned companies over the next few years to build a regional leader in home services. To that end, in September Bonney acquired Concord-based Big Air Heating & Air Conditioning, expanding their territory into the Bay Area.”
HiiROC raised £26m in November 2021 from a collection of investors including Centrica, Melrose, HydrogenOne, Hyundai, and Kia.
“In November 2021, HiiROC raised £26m from a collection of investors including Centrica, industrial buyout firm Melrose, investment fund HydrogenOne and carmakers Hyundai and Kia.”
Bonney Plumbing, Electrical, Heating and Air announced the acquisition of Sacramento-based Boyd Plumbing, Inc. on October 26. The merger expands Bonney's plumbing service area to nine counties in Northern California.
“Bonney Plumbing, Electrical, Heating and Air (Bonney), a home services company headquartered in Rancho Cordova, CA, announced Oct. 26 it has acquired Sacramento-based Boyd Plumbing, Inc.”
Right Time Group of Companies acquired furnaceguys Home Heating & Cooling of Saskatoon. The article states this is the tenth acquisition completed by Right Time and its PE backer Gryphon Investors, and the first Saskatchewan-based acquisition, expanding the platform across Canada.
“furnaceguys is the tenth acquisition completed by Right Time and Gryphon Investors, and the first Saskatchewan-based acquisition.”
Right Time Group of Companies acquired furnaceguys Home Heating & Cooling, its tenth acquisition with sponsor Gryphon Investors and first in Saskatchewan, expanding across Canada.
“furnaceguys is the tenth acquisition completed by Right Time and Gryphon Investors, and the first Saskatchewan-based acquisition.”
furnaceguys marks the tenth acquisition completed by Right Time and Gryphon Investors and its first Saskatchewan-based acquisition, with Right Time majority-owned by Gryphon Investors.
“Furnaceguys marks the tenth acquisition completed by Right Time and Gryphon Investors, and the first Saskatchewan-based acquisition.”
Right Time, majority-owned by Gryphon Investors, acquired Saskatoon-based residential HVAC contractor furnaceguys Home Heating & Cooling, its tenth acquisition and first in Saskatchewan.
“Right Time Group of Companies has announced the acquisition of [furnaceguys Home Heating & Cooling](https://www.furnaceguys.com/).”
Southern HVAC has a vice president of acquisitions (Jarrod Brinker), indicating a structured, ongoing roll-up acquisition program rather than a one-off purchase.
“said Jarrod Brinker, vice president of acquisitions at Southern HVAC.”
Southern HVAC Corporation announced the acquisition of The Plumbing & Air Service Company (TPASC), a contractor serving the Greensboro and Winston-Salem, NC markets. The deal is framed as a partnership ushering TPASC into its next growth phase under Southern HVAC's acquisitions program.
“KERNERSVILLE, N.C. — Southern HVAC Corporation announced the acquisition of The Plumbing & Air Service Company servicing the greater Greensboro and Winston-Salem, North Carolina, markets.”
Southern HVAC Corporation announced the acquisition of The Plumbing & Air Service Company (TPASC), serving the Greensboro and Winston-Salem, NC markets.
“KERNERSVILLE, N.C. — Southern HVAC Corporation announced the acquisition of The Plumbing & Air Service Company servicing the greater Greensboro and Winston-Salem, North Carolina, markets.”
Daikin Applied acquired St. Louis-based Dynamic Controls to add building-integration and controls expertise to its commercial HVAC offerings.
“Daikin Applied, a division of Daikin Industries, has acquired Dynamic Controls, Inc., a St. Louis–based building systems integrator with offices across the Midwest”
Southern Home Services Corporation acquired The Plumbing & Air Service Company as an add-on to its platform. The acquired company retains its branding while gaining access to Southern's sales and operational support.
“Southern Home Services Corporation has acquired The Plumbing & Air Service Company, a Kernersville, North Carolina-based plumbing, heating and air conditioning services provider. The acquired company will retain its branding while gaining access to Southern Home Services’ sales, back-office and operational support as an add-on to Southern’s platform.”
Gryphon deal/operating partners reference Right Time, in which Gryphon invested the prior December and which has performed ahead of expectations, as highly complementary to the Southern HVAC acquisition.
““The acquisition of Southern HVAC represents an excellent strategic fit for Gryphon’s North American residential services strategy and is highly complementary to Right Time, which has performed ahead of expectations since our investment this past December,” said Alex Earls, Gryphon deal partner, and Jeff Balagna, Gryphon operating partner.”
Southern HVAC's CEO characterizes residential HVAC, plumbing, and electrical services as highly fragmented and aims to expand its leading position across Texas, the Southeast, and Midwest with Gryphon and Right Time support.
““Residential HVAC, plumbing, and electrical services remains a highly fragmented industry, with demand growth being driven as consumers spend more time in their homes,” said Benak. “We aim to expand our position as the leading residential services provider across Texas, the Southeastern U.S., and Midwestern U.S. with support from Gryphon, Ian, and Right Time.””
As part of the transaction, Ian McKeen — formerly president and COO of Service Experts — became CEO of the new NAEHS holding company.
“As part of the transaction, Ian McKeen has become CEO of NAEHS. McKeen, a dual U.S. and Canadian citizen, has spent more than 25 years in the home services industry and previously served as president and chief operating officer of Service Experts.”
Southern HVAC and Right Time will be owned by a new holding company, North American Essential Home Services (NAEHS), operating independently under existing brands while sharing scale.
“Southern HVAC and Right Time will be owned by NAEHS (North American Essential Home Services), but will continue to operate independently, retaining their existing brand names and current management teams, while leveraging the combined scale and scope of the two businesses.”
As part of the Gryphon transaction, Ian McKeen, former president and COO of Service Experts, became CEO of the new NAEHS holding company.
“As part of the transaction, Ian McKeen has become CEO of NAEHS. McKeen, a dual U.S. and Canadian citizen, has spent more than 25 years in the home services industry and previously served as president and chief operating officer of Service Experts.”
Gryphon announced new holding company North American Essential Home Services (NAEHS) to own both Southern HVAC and Right Time as independently operating businesses, sharing scale advantages.
“Southern HVAC and Right Time will be owned by NAEHS (North American Essential Home Services), but will continue to operate independently, retaining their existing brand names and current management teams, while leveraging the combined scale and scope of the two businesses.”
ABM Industries announced the closing of its previously announced acquisition of Able Services, a facilities services company headquartered in San Francisco. The deal adds scale to ABM's core businesses, expands its engineering and technical services, and bolsters sustainability and energy efficiency offerings.
“ABM Industries (NYSE: ABM) announced today the closing of its previously announced acquisition of Able Services, a leading facilities services company headquartered in San Francisco.”
Imperial Capital framed the Haley deal as 'just the beginning' for Frontier, stating the platform will continue to expand through acquisitions and partnerships in the residential trades.
“We see tremendous opportunity to deploy our Back/Buy/Build investment strategy within the residential HVAC, plumbing and electrical services industry and this is just the beginning for Frontier,” said Eugene Polevoy, principal of Imperial Capital, Frontier’s capital partner.”
Frontier Service Partners named Tim O'Reilly, formerly CFO of Del-Air Heating and Air Conditioning, as its founding chief financial officer.
“Frontier Service Partners announced its partnership with Tim O’Reilly as founding chief financial officer. Tim is a chartered professional accountant with experience in the residential HVAC and plumbing industry, most recently at Del-Air Heating and Air Conditioning, where he served as CFO.”
Frontier Service Partners, the Imperial Capital-backed platform, named industry veteran Dean Fulton (ex-Hiller, ex-Service Experts) as founding CEO to lead its roll-up of residential HVAC and plumbing brands.
“Frontier Service Partners announced its partnership with Dean Fulton as founding CEO. Fulton is an industry veteran with over 30 years in the residential HVAC and plumbing industry, most recently at Hiller Plumbing, Heating and Cooling, where he served as chief operating officer and vice president of sales.”
Newly formed PE-backed platform Frontier Service Partners made its first add-on, acquiring Ann Arbor, Michigan residential HVAC company Haley Mechanical, with founder Henry Haley staying on as a division GM and Frontier shareholder.
“Frontier Service Partners acquired Haley Mechanical.”
Imperial Capital Group Ltd. launched Frontier Service Partners, a PE-backed platform to roll up residential HVAC, plumbing, and electrical services businesses using a Back/Buy/Build strategy.
“NASHIVLLE, Tenn. — Imperial Capital Group Ltd. announced the launch of Frontier Service Partners.”
