Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a
verbatim quote from its source. 1148 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
1,106 dated signals shown · 42 undated (excluded from the chart).
Canadian home and commercial services company Enercare completed its acquisition of Service Experts, a residential/commercial HVAC, plumbing and home-energy services provider, via merger for a purchase price of $340.75 million, expanding Enercare from Canada into the U.S.
“Canadian home and commercial services company, [Enercare Inc.](http://www.enercare.ca/), recently completed its [previously announced acquisition](https://www.achrnews.com/articles/132024-service-experts-to-be-acquired-by-enercare) of [Service Experts](http://www.serviceexperts.com/). The transaction was completed by way of a merger of an indirect wholly owned subsidiary of Enercare Solutions with Service Experts for a purchase price of $340.75 million.”
ARS leadership stated the Allgood acquisition expands its Atlanta presence alongside existing ARS/Universal HVAC and Rescue Rooter plumbing operations, reflecting ongoing metro-level roll-up of home-service firms.
“With this acquisition, ARS expands its presence in Atlanta, which includes our ARS/Universal HVAC operations and our Rescue Rooter plumbing operations.”
ARS acquired the assets of family-owned Allgood Plumbing, Electric, Heating & Cooling in Snellville, Georgia, an add-on expanding its Atlanta-area presence within the ARS/Rescue Rooter network.
“MEMPHIS, Tenn. — American Residential Services (ARS), a national provider of air conditioning, heating, and plumbing services, announced it has acquired the assets of Allgood Plumbing, Electric, Heating & Cooling in Snellville, Georgia.”
American Residential Services (ARS) acquired the assets of Allgood Plumbing, Electric, Heating & Cooling in Snellville, Georgia, expanding its presence in the Atlanta market within the ARS/Rescue Rooter Network.
“American Residential Services (ARS), a national provider of air conditioning, heating, and plumbing services, announced it has acquired the assets of Allgood Plumbing, Electric, Heating & Cooling in Snellville, Georgia.”
ARS frames the Unique Air deal as building on an extensive Florida presence spanning Jacksonville, Fort Lauderdale, Tampa Bay, Orlando, Vero Beach, Ft. Myers, Ft. Walton Beach and Miami, indicating an ongoing regional consolidation strategy.
“With this acquisition, ARS builds on its extensive presence in Florida, which includes Florida Home Air Conditioning of Jacksonville, Aspen Air Conditioning of Fort Lauderdale, along with ARS/Rescue Rooter of Tampa Bay, Orlando, Vero Beach, Ft. Myers, Ft. Walton Beach, and ARS of Miami.”
ARS, a national HVAC/plumbing platform, acquired the assets of Unique Air Services in Bradenton, Florida, expanding its Florida footprint as an add-on to its ARS/Rescue Rooter network.
“MEMPHIS, Tenn. — American Residential Services (ARS), a national provider of air conditioning, heating, and plumbing services, has acquired the assets of Unique Air Services in Bradenton, Florida.”
The Unique Air acquisition builds on ARS's existing Florida network spanning Jacksonville, Fort Lauderdale, Tampa Bay, Orlando, Vero Beach, Ft. Myers, Ft. Walton Beach, and Miami, signaling continued regional roll-up density.
“With this acquisition, ARS builds on its extensive presence in Florida, which includes Florida Home Air Conditioning of Jacksonville, Aspen Air Conditioning of Fort Lauderdale, along with ARS/Rescue Rooter of Tampa Bay, Orlando, Vero Beach, Ft. Myers, Ft. Walton Beach, and ARS of Miami.”
American Residential Services (ARS), a national HVAC/plumbing home-services platform, acquired the assets of Unique Air Services, a 40-year family-owned company in the greater Sarasota area, expanding ARS's Florida footprint. Clear home-services roll-up tuck-in.
“American Residential Services (ARS), a national provider of air conditioning, heating, and plumbing services, has acquired the assets of Unique Air Services in Bradenton, Florida.”
IES Holdings acquired STR Mechanical in April 2016. STR Mechanical provides mechanical (HVAC) services in Charlotte, NC, and fits within the Commercial & Industrial segment.
“STR Mechanical April 2016 Mechanical (HVAC) services (Charlotte, NC) Service focus Industry veteran Commercial & Industrial”
IES Holdings acquired STR Mechanical, a mechanical (HVAC) services provider in Charlotte, NC, in April 2016. The acquisition is described as having a service focus and bringing an industry veteran, serving as a platform for further add-on acquisitions in the Commercial & Industrial segment.
“STR Mechanical April 2016 Mechanical (HVAC) services (Charlotte, NC) Service focus Industry veteran Commercial & Industrial”
Service Experts was owned by private-equity/BDC firm American Capital of Bethesda, MD, which acquired the company in 2013; the pending Enercare deal represents American Capital's exit.
“Service Experts is currently owned by American Capital, Bethesda, Md., which acquired the company in 2013.”
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.”
Service Experts was owned by private-equity/BDC firm American Capital of Bethesda, MD, which had acquired the company; the pending Enercare deal represents American Capital's exit.
“Service Experts is currently owned by American Capital, Bethesda, Md., which”
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.”
Service Experts was owned by American Capital of Bethesda, Md., which acquired the company in 2013 before the reported Enercare deal.
“Service Experts is currently owned by American Capital, Bethesda, Md., which [acquired the company in 2013](https://www.achrnews.com/articles/122843-march-26-2013-american-capital-completes-buyout-of-service-experts).”
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.”
The acquisition provides Enercare with entry into the U.S. HVAC services market and enables the introduction of its rental products to Service Experts' customer base.
“The acquisition would give Enercare access to the U.S. HVAC services market and also allow the company to introduce its rental products and service offerings to Service Experts' customers.”
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.”
Comfort Systems USA, Inc. entered into Amendment No. 4 to its senior credit facility, increasing the line of credit from $250 million to $325 million with a $100 million accordion option. The amended facility matures in February 2021 and includes provisions for acquisitions up to $30 million per transaction.
“The Amended Facility provides an increased line of credit to the Company from $250 million to $325 million, with a $100 million accordion option.”
ARS describes a network of more than 65 company-owned, locally-managed service locations across 22 states with about 5,500 employees, indicating a national home-services consolidation platform.
“ARS operates a network of more than 65 company-owned, locally-managed service locations spanning 22 states, with approximately 5,500 employees.”
American Residential Services acquired the assets of Aspen Air Conditioning in Boca Raton, Florida, adding it to the ARS national HVAC/plumbing network.
“MEMPHIS, Tenn. — American Residential Services (ARS), a national provider of HVAC and plumbing services, announced that it has acquired the assets of Aspen Air Conditioning in Boca Raton, Florida.”
ARS describes itself as a network of more than 65 company-owned, locally-managed service locations spanning 22 states with roughly 5,500 employees, evidencing a national multi-trade home-services consolidation platform.
“ARS operates a network of more than 65 company-owned, locally-managed service locations spanning 22 states, with approximately 5,500 employees.”
ARS framed the Aspen Air acquisition as broadening its statewide Florida presence, marking the eighth major metro market it serves in the state as part of a stated national growth strategy.
“The Aspen Air acquisition is in the eighth major metro market that ARS serves in Florida, further broadening its statewide presence.”
American Residential Services, a national HVAC and plumbing platform, acquired the assets of Aspen Air Conditioning in Boca Raton, FL and Atlas Trillo in San Jose, CA, adding both to its national service network.
“MEMPHIS, Tenn. — American Residential Services (ARS), a national provider of HVAC and plumbing services, announced that it has acquired the assets of Aspen Air Conditioning in Boca Raton, Florida, and Atlas Trillo in San Jose, California.”
Audax Group Co-CEO Geoffrey Rehnert framed Source as a leader in the fragmented refrigeration services market and stated the plan to grow the business organically and through add-on acquisitions.
“Source is a recognized leader in the fragmented refrigeration services market. We look forward to partnering with Brad Howard and the entire Source team to continue growing the business organically and through add-on acquisitions.”
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.”
ARS is described as operating a network of more than 65 company-owned, locally-managed service locations across 22 states with about 5,500 employees, illustrating its national home-services consolidation platform into which Greenstar is being added.
“ARS operates a network of more than 65 company-owned, locally-managed service locations spanning 22 states, with approximately 5,500 employees.”
ARS, a national HVAC and plumbing home-services provider, acquired the assets of Greenstar Home Services (Orange, CA and Las Vegas). The California location keeps the Greenstar brand; the Las Vegas location is consolidated into ARS's Yes! Air Conditioning and Plumbing brand.
“MEMPHIS, Tenn. — American Residential Services (ARS), a national provider of HVAC and plumbing services, announced it has acquired the assets of Greenstar Home Services. Greenstar has two locations operating out of Orange, California, and Las Vegas, which provide homeowners with HVAC and plumbing services, installation, and repair. The location serving Southern California will retain the Greenstar brand and continue to operate as an independent service center. The Las Vegas location will be consolidated with ARS’ local brand, Yes! Air Conditioning and Plumbing®.”
The article references Alpine's prior successful platform, the Wrench Group, an Atlanta/Dallas/Houston/Phoenix HVAC and plumbing platform that grew to over $150 million in revenues and was sold to Investcorp in 2016.
“The firm applied a similar strategy successfully in what later became known as the Wrench Group, an HVAC and plumbing services platform serving the Atlanta, Dallas, Houston, and Phoenix markets, which grew to over $150 million in revenues and was subsequently sold to Investcorp in 2016.”
Alpine Investors built the Wrench Group, an HVAC and plumbing services platform, and subsequently sold it to Investcorp in 2016. Wrench Group had grown to over $150 million in revenues.
“The firm will follow the strategy it used to build the Wrench Group, an HVAC and plumbing services platform serving the Atlanta, Dallas, Houston, and Phoenix markets, which grew to over $150 million in revenues and was subsequently sold to Investcorp in 2016.”
Alpine Investors built the Wrench Group to over $150 million in revenues and sold it to Investcorp in 2016.
“The firm will follow the strategy it used to build the Wrench Group, an HVAC and plumbing services platform serving the Atlanta, Dallas, Houston, and Phoenix markets, which grew to over $150 million in revenues and was subsequently sold to Investcorp in 2016.”
The article discloses that Audax Private Equity completed a majority recapitalization of Source Refrigeration & HVAC in December 2015, establishing PE ownership of the platform.
“Audax Private Equity completed a majority recapitalization of Source in December 2015.”
Audax Private Equity completed a majority recapitalization of Source Refrigeration & HVAC in December 2015, establishing PE ownership of the commercial refrigeration platform.
“Audax Private Equity completed a majority recapitalization of Source in December 2015.”
A related-article link on the page references The SEER Group LLC acquiring a majority stake in Aladdin Air Conditioning & Heating Inc. The SEER Group is an HVAC roll-up platform. No date or detail is given in this source.
“The SEER Group LLC Acquires Majority Stake in Aladdin Air Conditioning & Heating Inc.”
Minneapolis-based commercial HVAC mechanical services firm Modern Heating and Air Conditioning was acquired by MSHC Inc., doing business as Service Logic, one of the largest independent HVAC mechanical services companies in the US.
“DENVER — Modern Heating and Air Conditioning Inc., headquartered in Minneapolis, has been acquired by MSHC Inc., dba Service Logic, headquartered in Denver.”
Modern Heating and Air Conditioning of Minneapolis was acquired by MSHC Inc. (dba Service Logic), one of the largest independent HVAC mechanical services companies in the US.
“Modern Heating and Air Conditioning Inc., headquartered in Minneapolis, has been acquired by MSHC Inc., dba Service Logic, headquartered in Denver.”
The Levy & Son purchase is described as Service Experts' first major acquisition of 2015 after completing three purchases in 2014, signaling an ongoing roll-up acquisition cadence by the platform.
“The transaction marks the company’s first major acquisition in 2015, after completing three purchases in 2014.”
SE Holdco, parent of Service Experts Heating and Air Conditioning, purchased the assets of 105-year-old Dallas HVAC and plumbing firm Levy & Son Plumbing. The article frames it as Service Experts' first major acquisition of 2015, following three purchases in 2014.
“purchased the assets of
Levy & Son Plumbing Inc.
, a 105-year-old Dallas-based HVAC and plumbing company. The transaction marks the company’s first major acquisition in 2015, after completing three purchases in 2014.”
SE Holdco LLC, parent of Service Experts Heating and Air Conditioning, purchased the assets of Levy & Son Plumbing, a 105-year-old Dallas HVAC and plumbing company — its first major acquisition of 2015 following three purchases in 2014.
“SE Holdco LLC, the parent company of [Service Experts Heating and Air Conditioning LLC](http://www.serviceexperts.com/), purchased the assets of [Levy & Son Plumbing Inc.](http://levyandson.com/dallas-heating-air-conditioning-plumbing-services/plumbers/), a 105-year-old Dallas-based HVAC and plumbing company. The transaction marks the company’s first major acquisition in 2015, after completing three purchases in 2014.”
Service Experts · Acquirer Bernard Levy · Mentioned Levy & Son Plumbing Inc. · Target SE Holdco LLC · Parent Scott J. Boxer · Mentioned
Levy & Son will continue operations under the name 'Levy & Son, a Service Experts company,' indicating it is being integrated as an add-on acquisition within the Service Experts platform.
“Levy & Son management and staff will remain on board at the company, and the company will continue operations under the name Levy & Son, a Service Experts company.”
Service Experts framed the Levy & Son deal as significantly expanding its presence in a fast-growing metro and deepening its plumbing services commitment; the company operates more than 95 locations serving over 2,000 homes and businesses per day.
“Service Experts Heating & Air Conditioning operates more than 95 locations serving more than 2,000 homes and businesses per day.”
SE Holdco, parent of Service Experts Heating and Air Conditioning, acquired Dallas-based HVAC and plumbing company Levy & Son Plumbing, expanding its presence in the Dallas metro and deepening its plumbing services segment. Levy & Son will continue under its name as a Service Experts company.
“PLANO, Texas — SE Holdco LLC, parent company of Service Experts Heating and Air Conditioning LLC, has announced the acquisition of Levy & Son Plumbing Inc., a Dallas-based HVAC and plumbing company.”
Service Experts framed the Levy & Son acquisition as a significant geographic expansion into one of the country's fastest-growing metro areas, with stated ambitions for robust regional sales growth.
“This acquisition significantly expands our presence in one of the country’s fastest-growing metropolitan areas, positioning Service Experts for robust sales growth in that region.”
SE Holdco / Service Experts Heating and Air Conditioning acquired Dallas-based HVAC and plumbing company Levy & Son, expanding its presence in a fast-growing metro and deepening its plumbing segment. Service Experts is a multi-location consolidator operating 95+ locations.
“SE Holdco LLC, parent company of Service Experts Heating and Air Conditioning LLC, has announced the acquisition of Levy & Son Plumbing Inc., a Dallas-based HVAC and plumbing company.”
Two years before this article, Ken Goodrich acquired Goettl Air Conditioning, subsequently restructuring management and restoring the brand to profitability.
“It has been two years since Ken Goodrich acquired [Goettl Good Guys Air Conditioning Repairmen](http://www.goettl.com/).”
Ken Goodrich, who acquired Goettl Air Conditioning two years prior, acquired Phoenix contractor Sonoran Air in August, rebranding it Sonoran Air Conditioning and building synergy between the two Arizona HVAC companies.
“Goodrich acquired the company in August and it is now operating under its new name, Sonoran Air Conditioning.”
Greenstar Home Services, a multi-state HVAC and plumbing provider, acquired A-Ames Plumbing and HVAC in Orange County, its seventh acquisition in three years.
“ORANGE COUNTY, Calif. — Greenstar Home Services, a privately held, multi-state provider of HVAC and plumbing services, has acquired A-Ames Plumbing and HVAC, based in Garden Grove, California. This acquisition marks the seventh company Greenstar has acquired in the past three years.”
EMCOR Group, Inc. elected John W. Altmeyer to its Board of Directors on October 23, 2014. He was also awarded restricted stock units as part of the company's director compensation program.
“On October 23, 2014, the Board of the Company elected Mr. John W. Altmeyer to serve as a member of the Board.”
