HVACR News for Informed Owners
Inside This Issue:
• Featured HVACR Transactions
• Is Now the Time to Sell Your Business?
Boothe’s Heating, Air & Plumbing Joins Wrench Group
MARIETTA, Ga.--(BUSINESS WIRE)--Wrench Group, LLC (“Wrench”), a national leader in home services, announced that Boothe’s Heating, Air & Plumbing, based in Hollywood, Md., has joined the company’s family of regional brands. Terms of the transaction were not disclosed.
The transaction expands the Wrench Group presence into the Mid-Atlantic region. Boothe’s was founded in 1993 and provides a wide array of services for homeowners in southern Maryland, including heating, air conditioning, indoor air quality, plumbing and drains.
Ascension Property Services completes eighth acquisition
in 24 months
MEMPHIS, Tenn., Aug. 19, 2021 /PRNewswire-PRWeb/ -- Ascension Property Services, a leading construction services house of brands, completed the acquisition of Liberty HVAC last month, the company's eighth acquisition in the past 24 months.
Liberty supplies HVAC and energy solutions for projects including new construction, replacement, retrofits and has a range of preventive maintenance offerings designed to drive value to customers.
Firmament Invests Growth Capital in Pinnacle MEP Holdings LLC
NEW YORK, Aug. 18, 2021 /PRNewswire/ -- The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today a growth investment in Pinnacle MEP Holdings LLC ("Pinnacle" or the "Company"). Founded in 2020 by the principals of Aquila Equity Partners ("Aquila"), Pinnacle is a leading HVACR and related mechanical services organization that is partnering with "industry leaders by reputation" throughout the central United States. Pinnacle has operations in multiple Midwest states and specializes in providing HVACR, electrical, and plumbing services for complex and light commercial and residential customers.
Pinnacle is led by Co-Chairman and CEO and Aquila Partner Andrew Reed, who has over 30 years of relevant experience in the licensed trade services and building products space, and Co-Chairman and Aquila Managing Partner Gary N. Lewis, who also has a diverse background working with field services companies. About the partnership with Firmament, Mr. Lewis stated, "We are excited to work with Firmament in this next stage of Pinnacle's growth. Their size and flexibility and robust experience supporting growth-oriented service organizations allows them to support our consolidation strategy. They believe in our thesis, share our core values and have been a great partner to work with."
Right Time Group of Companies Acquires Anchor Home Comfort
ST. CATHARINES, Ontario, Aug. 10, 2021 /PRNewswire/ -- Right Time Group of Companies ("Right Time" or the "Company") is pleased to announce the acquisition of Anchor Home Comfort. Founded in 1986, Anchor Home Comfort provides residential HVAC, air quality, and hot water services to the City of Ottawa, Ontario, and surrounding areas. Management and employees of Anchor Home Comfort will join the Right Time team and will benefit from Right Time's management and training capabilities. Terms of the transaction were not disclosed.
Anchor Home Comfort is the ninth acquisition completed by Right Time and the first led by the Company's new CEO, Craig Goettler. Mr. Goettler, who has 15 years of experience in the residential HVAC market, joined Right Time in 2014 and has served as Chief Operating Officer since 2018. He is now focused on driving the Company's growth strategy of developing a national footprint within new and existing markets by providing industry-leading service to its customers.
Is Now the Time to Sell Your Business?
By Jay Carter, Founder and CEO, MarketView
This article is the first of a four-part series designed to help business owners answer the Four Big Questions every owner should consider before attempting a sale transaction.
Beginning this week, we will publish one of the Four Big Questions. I encourage business owners to take just five minutes and complete each segment. If you complete all four exercises and still have questions about your exit options, please call me. I’ll be happy to spend a half-hour or so on the phone and answer any questions you have at no charge.
Big Question #1: Why Exit My Business?
As business owners, we will all exit our businesses someday, one way or another. So a more helpful question is “Why Exit My Business this year (or next year or in five or ten years)?” We want to exit our businesses on our own time frame, and we want the decision to exit to our business to be our own. The 30 Minute Exit Plan is the best way to kickstart taking control of when and how you exit your business.
To get your exit planning juices flowing, take five minutes and without over-thinking, use the figure below to list as many potential benefits of exiting your business that come to mind. Be creative. Be specific. Have fun with this. Don’t dismiss any thought that comes to mind; just write it down. We provided a few examples to help get you started.
ex: Get a Labradoodle puppy
ex: Restore my hobby car, finally
ex: Get the RV and hit the road
ex: Not worry about money
ex: Make a gift to my school
This Issue of the Exit Insider is Sponsored by MarketView.