HVACR News for Informed Owners
Inside This Issue:
• Featured HVACR Transactions
• Is Now the Time to Sell Your Business?
Bonney Plumbing, Electrical, Heating, and Air Announces the Acquisition of Big Air Heating & Air Conditioning
SACRAMENTO, Calif.--(BUSINESS WIRE)--Bonney Plumbing, Electrical, Heating, and Air (Bonney), a home services company headquartered in Rancho Cordova, CA, announced it has acquired the award-winning HVAC company, Big Air Heating & Air Conditioning (Big Air), based in Concord, CA. Under the partnership, Bonney will provide support to Big Air and its team as they continue to operate locally under their brand.
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.
Generational Equity Advises Page Mechanical Group in its Sale to Reedy Industries
DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Page Mechanical Group, Inc. to Reedy Industries, LLC. The acquisition closed on August 23, 2021.
Page Mechanical Group, (PMG), is the leading commercial HVAC contractor serving Southwest Florida with locations in Tampa, Fort Myers, and West Palm Beach.
Frontier Service Partners Announces Its Inaugural Acquisition
FRANKLIN, Tenn., Sept. 9, 2021 /PRNewswire/ -- Frontier Service Partners ("Frontier"), a newly launched residential services company is pleased to announce its acquisition of Haley Mechanical, headquartered in Dexter, Michigan. Haley is one of the pre-eminent residential HVAC companies in Michigan servicing the Ann Arbor area. This partnership marks the inaugural acquisition for Frontier, which was founded earlier this year on the philosophy of putting people first, delivering on our promises, and creating lifetime clients. Frontier is backed by Imperial Capital ("Imperial") as part of the firm's Back/Buy/Build investment strategy.
"Frontier is excited to welcome the Haley Mechanical team into the Frontier family," said Dean Fulton, Chief Executive Officer of Frontier. "Henry and Lindsey Haley, Haley Mechanical's owners, have built an exceptional residential HVAC services company with a strong local reputation, and Frontier will work with them to build on that strength and further grow the team and service capability. We intend to invest heavily in Michigan, where Haley Mechanical currently operates, as we build a multi-regional home services company."
Reedy Industries Acquires Ruyle Mechanical and Environmental Controls Solutions
DEERFIELD, Ill., Aug. 31, 2021 /PRNewswire/ -- Reedy Industries, a leader in commercial and industrial HVAC, plumbing, and building controls services, has acquired Ruyle Mechanical, a leading commercial/industrial HVAC contractor in Illinois and Environmental Control Solutions (ECSi), a preeminent provider of building automation and controls solutions serving Illinois and Iowa. With these acquisitions, Reedy Industries expands their service offerings and footprint in the Midwest, maintaining focus on meeting the needs of customers in the commercial, industrial, health care, education, government, and senior living market segments.
Founded in 1946, Ruyle is one of the most respected commercial HVAC mechanical service providers in Illinois. Based in Peoria, Ruyle's integrated service solutions include installation, maintenance and repair for boilers, chillers, and HVAC/R systems, along with solutions for optimizing energy efficiency, building automation and controls, electrical contracting, and solar project development, construction, and repair. Ruyle has earned both the STAR and HVAC GreenSTAR designations from the Mechanical Service Contractors Association, the latter of which is bestowed upon only 1% of HVAC contractors in the U.S.
NearU Services acquires Byrum Heating and A/C, entering the Charlotte metro market and extending South Carolina presence
CHARLOTTE, N.C., Sept. 1, 2021 /PRNewswire/ -- NearU Services ("NearU"), a founder-led premier home services platform, today announced the acquisition of Byrum Heating and A/C ("Byrum" or "Company"), a well-established home services provider with locations in Monroe & Marshville, North Carolina. A trusted market leader since 1996, Byrum will further bolster NearU's customer service capabilities and extend its portfolio of services across the Carolinas.
NearU's Founder and CEO, Ashish Achlerkar, said, "Byrum has been a proven leader in the Monroe, Marshville, and greater Charlotte metro for over 25 years. The Company's focus each day to deliver the best home service in the region is a welcomed tradition to the NearU family and one that we will continue to grow in the future. Scott & Chandy have inspired a team of very talented associates at Byrum who serve their customers through top-notch tradesmanship and customer service. NearU is committed to taking the incredible legacy of Byrum to greater heights and we welcome its customers and employees to the rapidly growing NearU family."
Huron Capital's Pueblo Mechanical & Controls Continues Expansion in Texas with Acquisition
DETROIT, Aug. 31, 2021 /PRNewswire/ -- Leading lower-middle-market private equity firm Huron Capital Partners ("Huron Capital") announced today that its HVAC and plumbing installation, retrofit, and repair services platform, Pueblo Mechanical & Controls ("Pueblo"), has acquired Central Air & Heating Service Inc. ("CAHS"), in a transaction that expands the company's presence into South Texas.
Family-owned and operated since 1972, Harlingen, Texas-based CAHS provides schools, businesses, and other institutions with the installation, repair, and replacement of air conditioning and heating systems throughout the Rio Grande Valley.
Reedy Industries Acquires Florida's Page Mechanical Group
DEERFIELD, Ill., Aug. 31, 2021 /PRNewswire/ -- Reedy Industries, a leader in commercial and industrial HVAC, plumbing, and building controls services, has acquired Page Mechanical Group (PMG), the leading commercial HVAC contractor serving Southwest Florida with locations in Tampa, Fort Myers, and West Palm Beach. With this acquisition, Reedy Industries expands their services footprint in the southeastern U.S., maintaining focus on meeting the needs of customers in the commercial, industrial, health care, education, government, and senior living market segments.
Founded in 1985, PMG provides comprehensive commercial HVAC services that encompass mechanical projects such as commercial equipment replacement, planned facility maintenance, pre-fabrication, commercial HVAC system installation, and in-house maintenance. PMG's in-house fabrication capabilities include state-of-the-art production welding methods and equipment, enhanced by a complete analysis of throughput operations to continually improve efficiency. PMG's expert use of the latest building information modeling (BIM) and virtual design and construction (VDC) technologies enable the entire project team to collaboratively view and work through the modeling and coordination process in preparation for a clash-free, efficiently constructed environment. The company's planned maintenance agreements help customers avoid catastrophic service costs, extend equipment life, and increase operational reliability.
Is Now the Time to Sell Your Business?
By Jay Carter, Founder and CEO, MarketView
This article is the third of a four part series designed to help business owners answer the Four Big Questions every owner should consider before attempting a sale transaction. In the two previous articles, we discussed the first two Big Questions:
Why Exit My Business?
Where Am I (and where is my business) Today?
If you happened to miss these first two steps, just send me an email with a request and I’ll send the others to you.
Today, we will explore the third Big Question: Where Do I Want To Go?
Use the worksheet below to estimate your estimated Minimum Sale Price needed to meet your financial goals. It should take no more than five minutes to complete. 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.
What are my financial needs?
What are my non-financial goals?
What do I want my life to look like after I exit the business?
* Note that this exercise is for illustrative purposes only and is not intended to replace comprehensive financial planning.
This Issue of the Exit Insider is Sponsored by MarketView.