Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a verbatim quote from its source. 93 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.
Centrica increased its stake in HiiROC from 2% to 5% as part of a joint venture to trial hydrogen at Brigg station.
“Centrica has also increased its stake in HiiROC, the start-up behind the project, from 2% to 5%, a small investment for the £4bn energy giant.”
Heartland Home Services, a Grand Rapids-based provider of HVAC, plumbing and electrical home services, has acquired Pat's Heating and Air Conditioning, a family-owned HVAC provider serving the greater Milwaukee area.
“Heartland Home Services, a Grand Rapids-based provider of HVAC, plumbing and electrical home services, has acquired Pat's Heating and Air Conditioning, a family-owned HVAC provider serving the greater Milwaukee area.”
The financial terms of the Heartland Home Services acquisition of Hurlburt were not disclosed.
“Terms of the transaction were not disclosed.”
Weil Gotshal & Manges LLP acted as legal counsel for OMERS Private Equity and Solomon Partners served as financial advisor on the Pueblo acquisition.
“Weil Gotshal & Manges LLP acted as legal counsel for OMERS Private Equity and Solomon Partners served as financial advisor.”
OMERS Private Equity signed a definitive agreement to acquire Pueblo Mechanical & Controls, a mechanical services provider, from Huron Capital Partners. Financial terms were not disclosed.
“OMERS Private Equity announced the signing of a definitive agreement to acquire Pueblo Mechanical & Controls, a mechanical services provider, from Huron Capital Partners. Financial details were not disclosed.”
OMERS Private Equity signed a definitive agreement to acquire mechanical services provider Pueblo Mechanical & Controls from Huron Capital Partners. Financial terms were not disclosed.
“OMERS Private Equity announced the signing of a definitive agreement to acquire Pueblo Mechanical & Controls, a mechanical services provider, from Huron Capital Partners. Financial details were not disclosed.”
OMERS Private Equity announced a definitive agreement to acquire Pueblo Mechanical & Controls, a provider of HVAC and plumbing services, from Huron Capital Partners. The acquisition aims to accelerate Pueblo's growth through strategic M&A and organic initiatives.
“OMERS Private Equity announced the signing of a definitive agreement to acquire Pueblo Mechanical & Controls, a mechanical services provider, from Huron Capital Partners.”
OMERS Private Equity announced a definitive agreement to acquire Pueblo Mechanical & Controls from Huron Capital Partners. The acquisition aims to accelerate Pueblo's growth through strategic M&A and organic initiatives. Financial terms were not disclosed.
“OMERS Private Equity announced the signing of a definitive agreement to acquire Pueblo Mechanical & Controls, a mechanical services provider, from Huron Capital Partners.”
Air Pros USA announced the acquisition of Dallas Plumbing Company, a 120-year-old family-owned HVAC and plumbing business in the Dallas/Fort Worth area. This is Air Pros USA's second acquisition in Texas, expanding its national footprint.
“Fort Lauderdale-based Air Pros USA announced the acquisition of Dallas Plumbing Company, a leading family owned and operated HVAC and plumbing business that has been proudly serving home and business owners in the Dallas/Fort Worth area since 1903.”
Reedy Industries, a Deerfield, Illinois–based commercial and industrial HVAC, plumbing, and building controls platform, has acquired Vorpagel Service, Inc., a Burlington, Wisconsin commercial HVAC contractor.
“Reedy Industries, a Deerfield, Illinois–based commercial and industrial HVAC, plumbing, and building controls platform, has acquired Vorpagel Service, Inc., a Burlington, Wisconsin commercial HVAC contractor.”
Heartland Home Services announced the acquisition of Buckner's Heating and Cooling, a residential HVAC company serving Kansas City, Missouri for over 39 years. The acquisition supports Heartland's expansion in the Kansas City area.
“Heartland Home Services announced the acquisition of three HVAC companies: Buckner's Heating and Cooling in Kansas City, Missouri; Faszold Heating and Cooling in St. Louis, Missouri; and National Heating and Air Conditioning Company, serving the greater Cincinnati Area.”
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.”
Bonney Plumbing, a Sacramento-based home service company, is expanding into the Bay Area by acquiring Big Air Heating & Air Conditioning.
“One of the Sacramento region's best-known home service companies has extended the figurative reach of its toilet plunger into the Bay Area.”
Bonney announced the acquisition of Big Air Heating & Air Conditioning to expand its service territory into Contra Costa County. The deal is part of Bonney's strategy to invest in founder-owned companies to build a regional leader in home services.
“Bonney Plumbing, Electrical, Heating and Air Announces the Acquisition of Big Air Heating & Air Conditioning September 8, 2021 Sacramento, CA – ( The partnership with Big Air expands Bonney’s territory currently covering eight counties in and around the Greater Sacramento region to Contra Costa County in the Bay Area.”
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.”
Comfort Systems USA, Inc. entered into an Agreement and Plan of Merger to acquire TAS Energy Inc. through a merger with its wholly owned subsidiary OSC Acquisition Corp. The initial purchase price is $106 million in cash plus a $14 million promissory note, with additional earn-out payments based on future EBITDA performance.
“On March 9, 2020, Comfort Systems USA, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) dated as of March 9, 2020 with its wholly owned subsidiary, OSC Acquisition Corp. (“Merger Sub”), TAS Energy Inc. (“TAS Energy”), and Element Partners II, L.P., in its capacity as the exclusive representative of the stockholders of TAS Energy (“TAS Stockholders”). The Merger Agreement provides that Merger Sub will merge with and into TAS Energy and each outstanding share of TAS Energy capital stock will be canceled and converted into the right to receive a portion of the merger consideration (described below) upon the terms and conditions set forth in the Merger Agreement. Upon the consummation of this merger, TAS Energy will become a wholly owned subsidiary of the Company.”
Goettl announced the acquisition of Dutton Plumbing to expand its footprint in Southern California.
“announced today the acquisition of Dutton Plumbing, a leading provider of plumbing and drain services in Los Angeles and Ventura counties.”
Comfort Systems USA, Inc. entered into a Purchase Agreement to acquire all outstanding securities of Walker TX Holding Company, Inc. The initial purchase price is approximately $178 million in cash plus a $25 million promissory note, with additional earn-out payments based on future EBITDA through December 31, 2023.
“On February 21, 2019, Comfort Systems USA, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with Walker TX Holding Company, Inc., a Texas corporation (“Walker”), the holders of all the outstanding securities of Walker (collectively, the “Shareholder Sellers”) and Scott Walker, as representative of the Shareholder Sellers, pursuant to which the Company will acquire all of the outstanding securities of Walker.”
Comfort Systems USA entered into a Purchase Agreement on February 21, 2019 to acquire all outstanding securities of Walker TX Holding Company, LLC. The deal was subsequently completed on April 1, 2019.
“the Purchase Agreement (the “Purchase Agreement”), dated as of February 21, 2019, by and among the Company, the holders of all the outstanding securities of Walker (collectively, the “Selling Shareholders”), and Scott Walker, as representative of the Selling Shareholders.”
Baum Capital Partners acquires Goettl Air Conditioning, a residential HVAC and plumbing provider in the Southwest US.
“Baum Acquires Goettl Air Conditioning”
Comfort Systems USA, Inc. entered into a Stock Purchase Agreement to acquire all outstanding securities of BCH Holdings, Inc., a Florida corporation. The initial purchase price is approximately $85.7 million in cash plus $14.3 million in unsecured promissory notes, with additional earn-out payments possible through 2021.
“On February 21, 2017, Comfort Systems USA, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “Purchase Agreement”) with BCH Holdings, Inc., a Florida corporation (“BCH”), the holders of all the outstanding securities of BCH (collectively, the “Selling Shareholders”) and Daryl W. Blume, as representative of the Selling Shareholders, pursuant to which the Company will acquire all of the outstanding securities of BCH.”
GDI Integrated Facility Services and its subsidiary Ainsworth entered an agreement to acquire Airtron Canada (Direct Energy Business Services) from Direct Energy Marketing for approximately $19.5 million, expanding GDI's Technical Services segment to ~$225M proforma revenue.
“GDI Integrated Facility Services Inc. announced that it and its wholly-owned subsidiary Ainsworth Inc. have entered into an agreement to acquire Direct Energy Business Services Limited, doing business as Airtron Canada, a subsidiary of Direct Energy Marketing Limited.”
Canadian home and commercial services company Enercare Inc. is reported to have agreed to acquire U.S. HVAC services provider Service Experts (Plano, TX) for a reported $340.75 million, giving Enercare entry into the U.S. HVAC services market.
“PLANO, Texas — Canadian home and commercial services company Enercare Inc., Toronto, is reported to have entered into an agreement to acquire Service Experts, a U.S. provider of HVAC services based in Plano, Texas. The purchase price is said to be $340.75 million.”
Canadian home and commercial services company Enercare entered into an agreement to acquire U.S. HVAC services provider Service Experts for a reported $340.75 million, giving Enercare access to the U.S. HVAC services market. Service Experts was owned by PE firm American Capital, which acquired it in 2013.
“Canadian home and commercial services company Enercare Inc., Toronto, is reported to have entered into an agreement to acquire Service Experts, a U.S. provider of HVAC services based in Plano, Texas. The purchase price is said to be $340.75 million.”
Canadian home and commercial services company Enercare Inc. is reported to have agreed to acquire U.S. HVAC services provider Service Experts (Plano, TX) for a reported $340.75 million, giving Enercare entry into the U.S. HVAC services market.
“PLANO, Texas — Canadian home and commercial services company Enercare Inc., Toronto, is reported to have entered into an agreement to acquire Service Experts, a U.S. provider of HVAC services based in Plano, Texas. The purchase price is said to be $340.75 million.”
Canadian home services company Enercare reportedly agreed to acquire U.S. HVAC services provider Service Experts for about $340.75 million, gaining access to the U.S. HVAC services market. Service Experts, with 90 locations across 29 states and three Canadian provinces, was then owned by PE-type firm American Capital, which had acquired it in 2013.
“Canadian home and commercial services company Enercare Inc., Toronto, is reported to have entered into an agreement to acquire Service Experts, a U.S. provider of HVAC services based in Plano, Texas. The purchase price is said to be $340.75 million.”
Enercare Inc. has entered into an agreement to acquire Service Experts, a U.S. HVAC services provider, for $340.75 million. The deal would give Enercare access to the U.S. HVAC market and allow cross-selling of rental products. The transaction is expected to close in Q2 2016.
“Canadian home and commercial services company Enercare Inc., Toronto, is reported to have entered into an agreement to acquire Service Experts, a U.S. provider of HVAC services based in Plano, Texas. The purchase price is said to be $340.75 million.”
The amended credit facility for Comfort Systems USA permits acquisitions of up to $30 million per transaction, with an aggregate annual limit of $65 million, subject to leverage ratio thresholds.
“The Amended Facility permits acquisitions of up to $30 million per transaction, provided that the aggregate purchase price of all such acquisitions in the same fiscal year do not exceed $65 million.”
Audax Private Equity announced it partnered with management to acquire Source Refrigeration & HVAC Inc., a leading independent commercial refrigeration and HVAC services provider, from Arsenal Capital Partners. Terms were undisclosed.
“BOSTON — Audax Private Equity announced that it has partnered with management to acquire Source Refrigeration & HVAC Inc. from Arsenal Capital Partners. Terms of the transaction were not disclosed.”
Service Experts Heating & Air Conditioning announced a multimillion-dollar acquisition of Maryland-based A-Plus Air Conditioning & Heating Co. to expand its footprint into northeast Virginia and south central Maryland.
“Service Experts Heating & Air Conditioning has announced the acquisition of Bryans Road, Maryland-based A-Plus Air Conditioning & Heating Co. The multimillion dollar purchase allows Service Experts to expand its footprint into northeast Virginia and south central Maryland.”
Comfort Systems USA, Inc. entered into an Agreement and Plan of Merger to acquire Dyna Ten Corporation for $37.5 million in cash, subject to post-closing adjustments. Dyna Ten will merge into a wholly owned subsidiary of Comfort Systems USA and survive as a wholly owned subsidiary.
“On April 7, 2014, Comfort Systems USA, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Dyna Ten Corporation (“Dyna Ten”), certain of its shareholders, and CSUSA (20), Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”). Subject to the terms and conditions of the Merger Agreement, Dyna Ten will merge with and into the Merger Sub (the “Merger”), with Dyna Ten surviving the Merger as a wholly owned subsidiary of the Company.”
EMCOR Group, Inc. entered into a Purchase and Sale Agreement to acquire all outstanding capital stock of RepconStrickland, Inc. from a group of sellers for approximately $455 million in cash. The acquisition will be financed through available cash and borrowings under EMCOR's revolving credit facility. The transaction is subject to customary closing conditions including HSR clearance.
“On June 17, 2013, EMCOR Group, Inc. (the “Company”), a Delaware corporation, entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Texas Turnaround LLC, a Delaware limited liability company, Altair Strickland Group, Inc., a Texas corporation, Rep Holdings LLC, a Texas limited liability company, ASG Key Employee LLC, a Texas limited liability company, Repcon Key Employee LLC, a Texas limited liability company, Gulfstar MBII, Ltd., a Texas limited partnership, The Trustee of the James T. Robinson and Diana J. Robinson 2010 Irrevocable Trust, The Trustee of the Steven Rothbauer 2012 Descendant’s Trust, The Co-Trustees of the Patia Strickland 2012 Descendant’s Trust, The Co-Trustees of the Carter Strickland 2012 Descendant’s Trust, and The Co-Trustees of the Walton 2012 Grandchildren’s Trust (collectively, “Sellers”) for the Company to acquire all of the outstanding capital stock of RepconStrickland, Inc., a Delaware corporation (along with its subsidiaries, “RepconStrickland”), in exchange for approximately $455 million in cash to be paid to Sellers.”
Comfort Systems USA, Inc. announced the acquisition of a majority interest in Environmental Air Systems, a mechanical contractor based in Greensboro, North Carolina. The deal was reported in a press release dated November 3, 2011.
“Attached as Exhibit 99.3 is a copy of a press release of the Company dated November 3, 2011 announcing the Company’s acquisition of a majority interest in Environmental Air Systems, a mechanical contractor headquartered in Greensboro, North Carolina.”
ARS announced the acquisition of the HVAC division from Beutler Corp. The transaction involves a specific business unit rather than the entire parent company.
“ARS buys HVAC division of Beutler Corp.”
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”).”
EMCOR Group, Inc. entered into a definitive agreement to acquire FR X Ohmstede Acquisitions Co. (Ohmstede) from FR X Ohmstede Holdings LLC, a portfolio company of private equity firm First Reserve Corporation, for approximately $457 million in cash. The acquisition will be financed through available cash and up to $350 million in debt financing.
“On August 20, 2007, EMCOR Group, Inc. (the “Company”), a Delaware corporation, entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with FR X Ohmstede Holdings LLC, a Delaware limited liability company (“Ohmstede Holdings”), for the Company to acquire all of the outstanding capital stock of FR X Ohmstede Acquisitions Co., a Delaware corporation (along with its subsidiaries, “Ohmstede”), in exchange for approximately $457 million in cash to be paid to Ohmstede Holdings. Ohmstede Holdings is a portfolio company of private equity firm First Reserve Corporation.”
Buckeye Ventures, Inc. announced the acquisition of Barnett Heating and Air Conditioning Services, Inc., a Modesto, California-based HVAC company founded in 1961. The deal is expected to add $3.5 million to Buckeye's annual revenue and expand its regional operations, leveraging synergies with its existing Energy King operation in Sacramento.
“Buckeye Ventures, Inc. (OTCBB:BEYV - News) announced today that it has acquired Barnett Heating and Air Conditioning Services, Inc., based in Modesto, California.”
Emerson Climate Technologies announced the acquisition of Oaksmere Refrigeration Design and Consultancy Ltd., a UK-based provider of design, project management, and maintenance management for the supermarket retail industry. The deal aims to expand Emerson's customer base and enhance its solutions for the global supermarket industry.
“Emerson Climate Technologies, a business of Emerson, has announced the acquisition of Oaksmere Refrigeration Design and Consultancy Ltd., a leading provider in the United Kingdom of design, project management, and maintenance management for the supermarket retail industry.”
Foundral acquired A. Hattersley & Sons, an Indiana firm specializing in piping and HVAC system design, construction, and maintenance.
“A. Hattersley & Sons specializes in design and construction, engineering, project management, installation, and maintenance of piping and HVAC systems.”
Fort Lauderdale-based Air Pros USA announced the acquisition of Dallas Plumbing Company, a family-owned HVAC and plumbing business.
“Fort Lauderdale-based Air Pros USA announced the acquisition of Dallas Plumbing Company, a leading family owned and operated HVAC and plumbing business”
RPM International Inc. announced that its Tremco Construction Products Group has acquired Pure Air Control Services, Inc., a Florida-based provider of indoor air quality solutions with approximately $10 million in annual net sales. The acquisition is intended to expand Tremco's service capabilities and penetrate vertical markets through complementary HVAC system hygienic cleaning and restoration services.
“RPM International Inc. (NYSE: RPM) today announced that its Tremco Construction Products Group has acquired Pure Air Control Services, Inc. , a provider of indoor air quality solutions. Headquartered in Clearwater, Florida , Pure Air has annual net sales of approximately $10 million . Terms of the transaction were not disclosed.”
Alliance Group, a partner of the NexCore platform, announced the acquisition of Nolin Control Systems, an industrial automation and controls provider based in Vermont. The founder, Matt Nolin, will remain with the business to lead day-to-day operations under Alliance's ownership.
“Alliance Group, a NexCore Partner, Announces Acquisition of Nolin Control Systems”
Hiller Plumbing, Heating, Cooling & Electrical announced the acquisition of America's Plumbing & Sewer in Chattanooga. The deal follows a previous purchase of Chattanooga Heating & Air and allows Hiller to expand its service area across Tennessee and into Georgia.
“Hiller Plumbing, Heating, Cooling & Electrical, Tennessee’s largest provider of residential and commercial plumbing, HVAC and electrical service and repair, announced the acquisition of America’s Plumbing & Sewer, formerly operating as a Rooter-man franchisee in Chattanooga. This addition, preceded by the purchase of Chattanooga Heating & Air, will allow Hiller to broaden its service area and better serve the community.”