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).
Comfort Systems USA, Inc. announced the acquisition of Delcard Associates, Inc., a full-service commercial HVAC company based in Wilmington, Delaware. The deal was announced via press release on August 18, 2008.
“Attached and incorporated herein by reference as Exhibit 99.2 is a copy of a press release of the Company dated August 18, 2008 announcing that it has acquired Delcard Associates, Inc., a Delaware corporation and a full service commercial HVAC company based in Wilmington, Delaware.”
ARS leadership described an ongoing strategy of expanding coast to coast through acquisitions of strong service providers, positioning the firm as a national category leader.
““In addition to organic growth, we continue to expand from coast to coast with acquisition of strong service providers,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
ARS/Rescue Rooter framed the acquisition as a platform for geographic expansion, planning an additional branch north of Boston, as part of a coast-to-coast acquisition strategy.
“This acquisition marks ARS/Rescue Rooter’s first presence in Massachusetts, and will serve as a platform for the company to grow its services throughout the Greater Boston area.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Boston-area HVAC and plumbing contractor Climate Zone, marking its first presence in Massachusetts.
“BOSTON - ARS/Rescue Rooter, a nationwide provider of heating, air conditioning, and plumbing services, has acquired Climate Zone, based out of Bradford, Mass., through parent company American Residential Services L.L.C.”
Climate Zone founder and former president Andy DiPietro took on a new role as sales manager for both Climate Zone and the new ARS/Rescue Rooter location following the acquisition.
“In his new role, DiPietro will serve as sales manager for both Climate Zone and the new ARS/Rescue Rooter location.”
ARS/Rescue Rooter's president framed the company as a national category leader expanding coast to coast through acquisition of strong service providers alongside organic growth.
““In addition to organic growth, we continue to expand from coast to coast with acquisition of strong service providers,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
The Climate Zone acquisition is ARS/Rescue Rooter's first Massachusetts presence and will serve as a platform to grow services across Greater Boston, including a new branch in the Woburn area.
“This acquisition marks ARS/Rescue Rooter’s first presence in Massachusetts, and will serve as a platform for the company to grow its services throughout the Greater Boston area.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Climate Zone of Bradford, Mass., marking its first presence in Massachusetts and serving as a platform to grow across Greater Boston. The deal reflects ARS's national acquisition-driven roll-up strategy.
“ARS/Rescue Rooter, a nationwide provider of heating, air conditioning, and plumbing services, has acquired Climate Zone, based out of Bradford, Mass., through parent company American Residential Services L.L.C.”
ARS/Rescue Rooter describes itself as a national network of more than 60 branches providing HVAC and plumbing, signaling an ongoing multi-branch consolidation platform.
“a leading member of the ARS/Rescue Rooter Network, a national network of more than 60 branches that provide HVAC and plumbing across the country.”
American Residential Services (ARS/Rescue Rooter) acquired Lloyds Plumbing Heating & Air of San Diego, which will operate under the ARS/Rescue Rooter brand.
“ARS/Rescue Rooter has acquired Lloyds Plumbing Heating & Air of San Diego through parent company American Residential Services L.L.C.”
American Residential Services (ARS/Rescue Rooter) acquired substantially all the assets of the Las Vegas location of Service Max, expanding its national HVAC and plumbing service network.
“ARS has acquired substantially all the assets of the Las Vegas location of Service Max, through parent company American Residential Services L.L.C.”
ARS, through parent American Residential Services L.L.C., acquired the Las Vegas location of Service Max and Lloyds Plumbing Heating & Air of San Diego, strengthening its HVAC and plumbing presence in both markets.
“Yes! ARS has acquired substantially all the assets of the Las Vegas location of Service Max, through parent company American Residential Services L.L.C. Also, ARS/Rescue Rooter has acquired Lloyds Plumbing Heating & Air of San Diego through parent company American Residential Services L.L.C.”
Direct Energy serves Texas homeowners through a portfolio of acquired HVAC and plumbing brands, illustrating an energy-company-led roll-up of residential home-services contractors.
“In Texas, Direct Energy provides services to homeowners under the following brands: Hallmark Air Conditioning and Heating, Airtron Heating and Air Conditioning, Jarrell Plumbing, C.A. Woods, and Wendland Air Conditioning and Heating.”
Direct Energy describes a Texas home-services platform comprising multiple acquired HVAC/plumbing brands (Hallmark, Airtron, Jarrell Plumbing, C.A. Woods, Wendland), indicative of ongoing roll-up consolidation.
“In Texas, Direct Energy provides services to homeowners under the following brands: Hallmark Air Conditioning and Heating, Airtron Heating and Air Conditioning, Jarrell Plumbing, C.A. Woods, and Wendland Air Conditioning and Heating.”
ARS/Rescue Rooter's president framed the Goettl acquisition as part of a strategy to build a national network of HVAC contractors and grow through acquiring additional service providers nationwide.
““We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
American Residential Services (ARS/Rescue Rooter) acquired Tempe, Arizona-based Goettl Air Conditioning through its parent company, adding it to its nationwide HVAC/plumbing services network as part of an explicit national roll-up strategy. Goettl retains its brand and existing leadership.
“PHOENIX - ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter states a strategy of building a national network of HVAC contractors through continued acquisitions of quality service providers, evidencing an ongoing home-service roll-up thesis.
““We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer.”
American Residential Services (ARS/Rescue Rooter) acquired Tempe, Arizona-based Goettl Air Conditioning, adding it to its national HVAC contractor network as a clear home-service consolidation add-on. Goettl retains its brand and headquarters.
“ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter framed the Goettl deal as part of a strategy to build a national network of HVAC contractors via continued acquisitions, signaling an ongoing home-services consolidation play.
“We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction,” said Dave Slott, ARS/Rescue Rooter president and chief operating officer. “Goettl’s history of demonstrating their commitment to service and employee satisfaction coincides with our vision, and we look forward to continuing our growth through the addition of quality service providers and staff nationwide.”
ARS/Rescue Rooter, through parent American Residential Services L.L.C., acquired Tempe, Arizona-based Goettl Air Conditioning, adding it to its nationwide HVAC/plumbing service network while retaining the Goettl brand.
“PHOENIX - ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
ARS/Rescue Rooter stated a strategy of building a national network of HVAC contractors through continued acquisitions of quality service providers nationwide.
“We are committed to being the category leader by creating a national network of the best HVAC contractors dedicated to exceptional service and employee satisfaction”
ARS/Rescue Rooter, through parent American Residential Services, acquired Goettl Air Conditioning of Tempe, AZ as part of building a national network of HVAC contractors. Goettl retains its brand and existing leadership while operating within the ARS/Rescue Rooter network.
“ARS®/Rescue Rooter®, a privately held, nationwide provider of heating, air conditioning, and plumbing services, has acquired Tempe, Ariz.-based Goettl Air Conditioning® through its parent company, American Residential Services L.L.C.”
Service Logic describes itself as a privately held platform made up of leading mechanical service companies across North America, signalling an ongoing roll-up of regional service firms like PSR.
“Service Logic is a privately held company comprised of top mechanical service companies across North America with more than 1,200 dedicated service employees.”
Service Logic, a North American mechanical-services consolidator, acquired Seattle-based PSR HVAC & Mechanical Services. President Rob Miller stays on and PSR continues under its own name.
“Service Logic has announced the recent acquisition of PSR HVAC & Mechanical Services based in Seattle.”
Service Logic is described as a privately held company comprising top mechanical service companies across North America with more than 1,200 service employees, indicating an ongoing platform consolidation of mechanical/HVAC service firms.
“Service Logic is a privately held company comprised of top mechanical service companies across North America with more than 1,200 dedicated service employees.”
Service Logic, a privately held consolidator of mechanical service companies across North America, acquired Seattle-based PSR HVAC & Mechanical Services. PSR's president stays on and the brand is retained.
“Service Logic has announced the recent acquisition of PSR HVAC & Mechanical Services based in Seattle.”
Comfort Systems USA's Board of Directors elected Darcy G. Anderson and Alan P. Krusi as independent directors, expanding the board to eight members. The appointments were effective March 5, 2008.
“On March 5, 2008, the Board of Directors of Comfort Systems USA, Inc. (the “Company”) unanimously elected Darcy G. Anderson and Alan P. Krusi to serve as independent members of the Company’s Board of Directors, and thereby expanded the total number of Company Directors to eight.”
Comfort Systems USA, Inc. announced it has acquired Merit Mechanical, Inc., a full-service commercial HVAC company based in Redmond, Washington. The acquisition was announced via a press release dated March 4, 2008.
“Attached and incorporated herein by reference as Exhibit 99.1 is a copy of a press release of the Company dated March 4, 2008 announcing that it has acquired Merit Mechanical, Inc., a full service commercial HVAC company based in Redmond, Washington.”
American Residential Services LLC (owner of ARS and Rescue Rooter) acquired three companies: Universal Heating and Cooling (Atlanta), Air-Trol Heating and Air Conditioning (Indianapolis), and 24/7 Service Corp. (Las Vegas/Phoenix), expanding its HVAC and plumbing footprint.
“American Residential Services LLC, owner of the [ARS and Rescue Rooter](link:http://www.ars.com) brands, recently purchased three companies: Atlanta-based Universal Heating and Cooling; Indianapolis-based Air-Trol Heating and Air Conditioning; and Las Vegas and Phoenix-based 24/7 Service Corp., which operates Yes! Air Conditioning, Yes! Plumbing and Sunset Sheet Metal & Air Conditioning.”
Comfort Systems USA, Inc. entered into a Stock Purchase Agreement to acquire all outstanding stock of Riddleberger Brothers, Inc., a commercial HVAC company based in Virginia, for $23 million cash, an $11 million note, and a three-year earn-out.
“Effective February 29, 2008, Comfort Systems USA, Inc., a Delaware corporation (the “Company”) entered into a Stock Purchase Agreement By and Between the Company and James P. Young to acquire all of the issued and outstanding stock of Riddleberger Brothers, Inc., a Virginia corporation (the “Agreement”).”
Comfort Systems USA announced it has acquired Riddleberger Brothers, Inc., a full-service commercial HVAC company based in Mount Crawford, Virginia.
“Press Release of Comfort Systems USA, Inc. dated February 28, 2008 announcing that it has acquired Riddleberger Brothers, Inc., a full service commercial HVAC company based in Mount Crawford, Virginia.”
Following ARS's acquisition, 24/7 president and owner Ken Goodrich joined the ARS senior management team and will lead and expand HVAC and plumbing operations in Las Vegas, Phoenix, and Southern California.
“said Ken Goodrich, president and owner, who now joins the senior management team at ARS. Goodrich will lead and expand existing HVAC and plumbing operations in Las Vegas and Phoenix, as well as ARS’s HVAC businesses in Southern California”
ARS framed the deal as part of an ongoing roll-up strategy to build a nationwide HVAC and plumbing footprint by continuing to add quality service providers.
““We are building a nationwide HVAC and plumbing footprint by continuing to add quality service providers such as Yes! and Sunset,” said Dave Slott, president and chief operating officer of American Residential Services.”
ARS purchased the assets of several Las Vegas and Phoenix air conditioning and plumbing businesses, acquiring 24/7 Service Corporation (operating Yes! Air Conditioning, Yes! Plumbing, and Sunset Sheet Metal & Air Conditioning) as part of building a nationwide footprint.
“LAS VEGAS - American Residential Services LLC (ARS), a privately held, nationwide provider of heating, air conditioning, and plumbing services through the ARS and Rescue Rooter brands, has purchased the assets of several air conditioning and plumbing businesses operating in Las Vegas and Phoenix. ARS acquired 24/7 Service Corporation, which operates Yes! Air Conditioning, Yes! Plumbing, and Sunset Sheet Metal & Air Conditioning.”
ARS framed the acquisition as part of an ongoing strategy to build a nationwide HVAC and plumbing footprint by continuing to add service providers, a stated consolidation strategy.
“We are building a nationwide HVAC and plumbing footprint by continuing to add quality service providers such as Yes! and Sunset”
American Residential Services (ARS/Rescue Rooter) purchased the assets of several Las Vegas and Phoenix air conditioning and plumbing businesses, acquiring 24/7 Service Corporation, which operates Yes! Air Conditioning, Yes! Plumbing, and Sunset Sheet Metal & Air Conditioning, as part of building a nationwide HVAC/plumbing footprint.
“American Residential Services LLC (ARS), a privately held, nationwide provider of heating, air conditioning, and plumbing services through the ARS and Rescue Rooter brands, has purchased the assets of several air conditioning and plumbing businesses operating in Las Vegas and Phoenix. ARS acquired 24/7 Service Corporation, which operates Yes! Air Conditioning, Yes! Plumbing, and Sunset Sheet Metal & Air Conditioning.”
American Residential Services acquired Universal Heating and Cooling of Atlanta; it will operate as Universal/ARS and its CEO joins ARS senior management.
“American Residential Services LLC, a privately held, nationwide provider of heating, air conditioning, and plumbing services through the ARS® and Rescue Rooter® brands, has acquired Universal Heating and Cooling of Atlanta and Air-Trol Heating and Air Conditioning of Indianapolis.”
ARS acquired Universal Heating and Cooling of Atlanta and Air-Trol Heating and Air Conditioning of Indianapolis, expanding its HVAC and plumbing footprint in Atlanta and central Indiana.
“American Residential Services LLC, a privately held, nationwide provider of heating, air conditioning, and plumbing services through the ARS® and Rescue Rooter® brands, has acquired Universal Heating and Cooling of Atlanta and Air-Trol Heating and Air Conditioning of Indianapolis.”
EMCOR's CEO Frank MacInnis commented that Jerry Ryan's experience will be valuable as the company continues to grow its industrial operations following its acquisition of Ohmstede, Limited.
“Jerry's breadth of experience, especially in industrial maintenance, services, and manufacturing of mission critical components will be a source of wise counsel to us as we continue to grow our industrial operations following our acquisition of Ohmstede, Limited.”
EMCOR Group, Inc. elected Jerry E. Ryan to its Board of Directors on December 13, 2007, increasing the board to eight members. Mr. Ryan is a former owner and past Chairman/CEO of Fintube Limited Partnership, bringing experience in industrial maintenance, services, and manufacturing relevant to EMCOR's operations.
“On December 13, 2007 the Board of the Company elected Mr. Jerry E. Ryan to serve as a member of the Board.”
EMCOR Group reported 13.8% organic revenue growth in Q3 2007, driven by strong performance across all North American segments, particularly U.S. Mechanical, Electrical, and Facilities Services. The company noted robust markets and strong demand for its services.
“After excluding revenues from 2007 acquisitions, organic revenue growth in the 2007 third quarter was 13.8%.”
EMCOR Group, Inc. completed its acquisition of Ohmstede, Ltd., a provider of aftermarket maintenance, repair, and fabrication services for heat exchangers in the refinery and petrochemical industries, for approximately $455 million in cash. The deal was slightly accretive to diluted earnings per share in Q3 2007.
“During the quarter, the Company completed its acquisition of Ohmstede, Ltd. ("Ohmstede"), the leading provider of aftermarket maintenance and repair services, replacement parts and fabrication services for highly engineered shell and tube heat exchangers for the refinery and petrochemical industries, for approximately $455 million in cash, as previously announced.”
Caxton-Iseman Capital's portfolio includes American Residential Services L.L.C., described as one of the nation's leading providers of HVAC and plumbing services. This highlights private equity interest in the home services trades.
“American Residential Services L.L.C., one of the nation’s leading providers of HVAC and plumbing services”
ARS framed the Florida Home acquisition as part of an ongoing national consolidation strategy of adding quality service providers to expand its footprint.
“ARS is currently focused on growth through the addition of quality service providers as we continue to expand nationwide,”
American Residential Services (ARS), a nationwide HVAC provider, purchased Jacksonville-based Florida Home Air Conditioning Co. as part of an acquisition-driven national growth strategy. The acquired company retains its name and management.
“American Residential Services L.L.C. (ARS), a privately held, nationwide provider of HVAC services, has purchased Jacksonville-based Florida Home Air Conditioning Co. as part of its strategy for continued growth through acquisitions.”
EMCOR Group, Inc. completed its acquisition of all outstanding capital stock of FR X Ohmstede Acquisitions Co. (Ohmstede) on September 19, 2007, for approximately $457 million in cash. Ohmstede became a wholly owned subsidiary of EMCOR.
“On September 19, 2007, EMCOR Group, Inc., a Delaware corporation (the “Company”), completed its acquisition of all of the outstanding capital stock of FR X Ohmstede Acquisitions Co., a Delaware corporation (along with its subsidiaries, “Ohmstede”), pursuant to a Purchase and Sale Agreement, dated August 20, 2007 (the “Purchase Agreement”), with FR X Ohmstede Holdings LLC, a Delaware limited liability company (“Ohmstede Holdings”). As a result of the acquisition, Ohmstede became a wholly owned subsidiary of the Company.”
EMCOR Group, Inc. entered into a Term Loan Agreement with Bank of Montreal and other lenders for a $300 million term loan, with an option to increase borrowings by up to $150 million. The loan is secured by substantially all assets of the company and its U.S. subsidiaries.
“The Loan Agreement provides for a term loan to the Company of $300,000,000. If the Company so desires it may identify one or more additional lenders (which may include existing Term Loan Lenders) willing to participate, or increase their participation, in the Loan Agreement, and thereby increase the Company’s borrowings under the Loan Agreement by up to an additional $150,000,000”
EMCOR Group, Inc. entered into a $300 million term loan agreement to finance a portion of the consideration for its acquisition of FR X Ohmstede Acquisition Co. The transaction closed on September 19, 2007.
“The $300,000,000 loan proceeds were used to pay a portion of the consideration for the acquisition of FR X Ohmstede Acquisition Co., a Delaware corporation (“Ohmstede”), and costs and expenses incident thereto.”
