Every PE/M&A signal we can find, concrete deals and the broader market mood, each pinned to a verbatim quote from its source. 21 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.
PremiStar has raised $2.09 billion in total platform funding since its formation, fueling aggressive add-on acquisitions and geographic expansion across 19 states.
“PremiStar now runs 62 branches across 19 states, employs more than 3,100 people, and has raised $2.09 billion in total platform funding.”
Legence funded the Bowers acquisition partly through a $200 million upsizing of its term loan facility, alongside cash on hand and equity issuance.
“the purchase price consisted of upfront cash consideration of $325 million, which was funded by a combination of cash on hand, borrowings under the Company’s revolving line of credit, the $200 million upsizing of Legence’s term loan facility and the issuance of approximately 2.55 million shares of Legence’s Class A common stock.”
Comfort Systems USA, Inc. entered into an amended and restated senior secured revolving credit facility, increasing the revolving line of credit from $850 million to $1.1 billion. The facility, arranged by Wells Fargo Bank, includes an option to increase by up to $500 million or 1.0x Consolidated EBITDA and matures on October 1, 2030.
“On August 27, 2025, Comfort Systems USA, Inc. (the “Company”) entered into an amended and restated senior secured revolving credit facility (the “Facility”), with certain subsidiaries of the Company as guarantors (the “Guarantors”), arranged by Wells Fargo Bank, National Association, as administrative agent (the “Agent”), and provided by a syndicate of banks including Wells Fargo Bank, National Association and other lenders from time to time party thereto (the “Lenders”).”
EMCOR Group, Inc. and its UK subsidiary entered into a Seventh Amended and Restated Credit Agreement providing a $1.30 billion five-year revolving credit facility, with an option to increase the facility by up to an additional $900 million or more based on EBITDA. The facility matures on December 20, 2028, and is guaranteed by substantially all U.S. subsidiaries and secured by assets.
“The 2023 Credit Agreement provides for a $1.30 billion five year revolving credit facility under which the Company may borrow up to $1.30 billion and EMCOR UK may borrow up $100.0 million. The Company has the ability to increase the revolving credit facility by up to an additional amount equal to the greater of (a) $900 million and (b) the Company’s Adjusted EBITDA (as such term is defined in the 2023 Credit Agreement) for the twelve-month period then ended.”
In October 2023, Alpine Investors and Partners Group completed a $3.4 billion continuation fund for Apex Service Partners, one of the largest single-business continuation transactions in PE history. This structure allows Alpine to hold Apex indefinitely rather than pursuing a typical 3-5 year exit.
“The company is backed by Alpine Investors and Partners Group, the latter having participated in a $3.4 billion continuation fund in October 2023 — one of the largest single-business continuation transactions in PE history.”
Air Pros USA raised $50 million from Peak Rock Capital of Austin, Texas to fund further acquisitions; the article notes Air Pros remained one of the few privately held, non-equity-sponsored HVAC platforms.
“He added that a year and a half ago, the company had raised $50 million from Peak Rock Capital in Austin, Texas to grow the business through more acquisitions.”
Air Pros USA founder Anthony Perera said the company raised $50 million from Peak Rock Capital in Austin to fund acquisitions, while emphasizing it remained largely founder-controlled and non-equity-sponsored.
“the company had raised $50 million from Peak Rock Capital in Austin, Texas to grow the business through more acquisitions.”
Comfort Systems USA entered into an amended and restated senior credit facility on May 25, 2022, increasing its line of credit from $600 million to $850 million. The facility, arranged by Wells Fargo, includes an option to increase commitments further and permits unlimited acquisitions when net leverage is at or below 3.25x.
“the Company entered into an amended and restated senior credit facility (the “Facility”) with certain subsidiaries of the Company, as guarantors (the “Guarantors”), arranged by Wells Fargo Bank, National Association (the “Agent”) and provided by a syndicate of banks including Wells Fargo Bank, National Association and other lenders from time to time party thereto (the “Lenders”).”
Alpine planned to invest at least $100 million of equity capital in founder-owned companies over five years to build Apex Service Partners, following the same strategy it used to build the Wrench Group.
“Alpine executives plan to invest at least $100 million of equity capital in founder-owned companies over the next five years to build Apex.”
Alpine plans to invest at least $100 million of equity capital in founder-owned companies over five years to build Apex Service Partners.
“Alpine executives plan to invest at least $100 million of equity capital in founder-owned companies over the next five years to build Apex.”
Alpine plans to invest at least $100 million of equity capital into founder-owned companies over five years to build Apex Service Partners into a national leader.
“Alpine plans to invest at least $100 million of equity capital in founder-owned companies over the next five years to build Apex into a national leader.”
Alpine plans to deploy at least $100 million of equity capital into founder-owned companies over five years to scale the Apex platform.
“Alpine plans to invest at least $100 million of equity capital in founder-owned companies over the next five years to build Apex into a national leader.”
Comfort Systems USA funded the cash portion of the Walker acquisition through borrowings under its $400 million senior credit facility provided by a syndicate of banks. The initial cash payment was approximately $178 million, with additional notes and earn-out payments.
“The Company’s cash payments upon consummation of the Acquisition were funded by borrowings under the Company’s $400.0 million senior credit facility provided by a syndicate of banks, which facility is described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.”
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.”
EMCOR Group, Inc. entered into a Fourth Amended and Restated Credit Agreement, providing a $750 million revolving credit facility and $350 million in term loans, with an option to increase the revolver by $300 million. This refinancing replaces the former 2011 credit agreement.
“On November 25, 2013, EMCOR Group, Inc. (the “Company) and EMCOR Group (UK) plc., a wholly-owned subsidiary of the Company (“EMCOR UK”), entered into a Fourth Amended and Restated Credit Agreement (the “Credit Agreement”) dated as of November 25, 2013 with Bank of Montreal, as Agent, and certain other lenders listed on the signature pages thereof (collectively, the “Lenders”).”
EMCOR Group, Inc. and its subsidiary EMCOR Group (UK) plc entered into a Third Amended and Restated Credit Agreement establishing a $750 million revolving credit facility, with an option to increase borrowings by up to an additional $150 million. The agreement amends and restates the prior credit agreement dated February 4, 2010.
“On November 21, 2011, EMCOR Group, Inc. (the “Company) and EMCOR Group (UK) plc., a wholly-owned subsidiary of the Company (“EMCOR UK”), entered into a Third Amended and Restated Credit Agreement (the “Credit Agreement”) dated as of November 21, 2011 with Bank of Montreal, as Agent, and certain other lenders listed on the signature pages thereof (collectively, the “Lenders”).”
Comfort Systems USA, Inc. entered into an amendment to its senior credit facility on September 23, 2011, with a syndicate of banks led by Wells Fargo. The amended facility extends maturity to September 2016 and adjusts financial covenants, including leverage and fixed charge coverage ratios.
“On September 23, 2011, the Company entered into an Amendment No. 1 to Second Amended and Restated Credit Agreement, Second Amended and Restated Security Agreement, and Second Amended and Restated Pledge Agreement (the “Amendment” and, together with the Facility, the “Amended Facility”) with the Guarantors, the Agent, and the Lenders.”
Comfort Systems USA, Inc. entered into an amended and restated senior credit facility on July 16, 2010, arranged by Wells Fargo Bank and provided by a syndicate of banks. The new $125 million revolving line of credit replaces the prior 2007 facility and matures in July 2014.
“On July 16, 2010, Comfort Systems USA, Inc. (the “Company”) entered into an amended and restated senior credit facility (the “Facility”) arranged by Wells Fargo Bank, National Association and provided by a syndicate of banks including Bank of Texas, N.A., Capital One, N.A., Regions Bank, and Branch Bank & Trust Company (BB&T).”
Comfort Systems USA, Inc. entered into an amended and restated senior credit facility on July 16, 2010, replacing its prior 2007 facility. The new $125 million revolving line of credit was arranged by Wells Fargo Bank and provided by a syndicate of banks, expiring in July 2014.
“On July 16, 2010, Comfort Systems USA, Inc. (the “Company”) entered into an amended and restated senior credit facility (the “Facility”) arranged by Wells Fargo Bank, National Association and provided by a syndicate of banks including Bank of Texas, N.A., Capital One, N.A., Regions Bank, and Branch Bank & Trust Company (BB&T).”
EMCOR Group, Inc. entered into a Second Amended and Restated Credit Agreement establishing a $550 million revolving credit facility, with an option to increase it by $100 million. The company also terminated its existing Term Loan Agreement and paid off approximately $195 million in outstanding indebtedness.
“On February 4, 2010, EMCOR Group, Inc. (the “Company”), Comstock Canada Ltd., a wholly-owned subsidiary of the Company (“Comstock”), and EMCOR Group (UK) plc., a wholly-owned subsidiary of the Company (“EMCOR UK”), entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”) dated as of February 4, 2010 with Bank of Montreal, as Agent, and certain other lenders listed on the signature pages thereof (collectively, the “Lenders”).”
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”