M&A: HVAC, Plumbing, & Electrical
GHK Capital completes its acquisition of USA Hometown Experts, closing the Southeast multi-trade platform sale reported last week
GHK Capital Partners announced October 15 that it has completed its acquisition of Memphis-based USA Hometown Experts, an eight-brand HVAC, plumbing and electrical platform…
Citation-backed Gallo Mechanical adds Cherokee Mechanical, extending its Southeast commercial HVAC footprint into Northwest Georgia
New Orleans specialty mechanical contractor Gallo Mechanical, majority-owned by Citation Capital since June 2025, adds a Calhoun, Georgia commercial and industrial HVAC contractor…
Blackford-backed Habco acquires Norfolk's E.G. Middleton, adding a century-old shipyard and utility electrical contractor in Virginia
Blackford Capital's Habco Partnership MEP platform adds E.G. Middleton, a third-generation Norfolk electrical contractor founded in 1920 whose roughly 120 workers handle…
TruTemp Services acquires D&D HVAC and Sandhills Heating & Refrigeration, building a homebuilder-facing corridor from Raleigh to the Sandhills
Centre Partners– and Baldwin Creek–backed TruTemp adds a Sanford HVAC contractor and a 50-year-old Aberdeen HVAC and electrical shop, its first add-ons since launching on Maynor…
USA Hometown Experts nears majority sale to GHK at a reported low-double-digit multiple, as commercial construction exposure weighs on its valuation
Homepros reported October 12 that GHK Capital Partners is set to take a majority stake in MSouth-backed USA Hometown Experts at a valuation north of $400 million, citing unnamed…
Private equity-backed Apex Service Partners raises $3.9 billion in debut institutional debt financing
Apex Service Partners, Alpine Investors and Apollo Hybrid Value closed a $3.9 billion package of term loans, a revolver and senior secured notes, moving the residential HVAC…
Exuma Capital-backed American Service Partners launches a national residential HVAC, plumbing, and electrical platform
The Fort Lauderdale-based platform launched October 7 by acquiring brands from Platform Partner Holdings and Air Today Holdings, with an institutional capital raise sponsored by…
Waldinger acquires United Mechanical Group, adding Champaign to its Central Illinois footprint
The Des Moines-based mechanical, electrical, and sheet metal contractor has acquired United Mechanical Group, a commercial plumbing, HVAC, and process piping contractor founded in…
Heartwood-backed Norlee Group acquires IEM Electric, entering North Carolina with a Hickory industrial electrical contractor
The Jacksonville-based electrical and technology contracting platform, backed by Heartwood Partners since October 2024, buys a Hickory industrial electrical, controls, automation…
26North-backed ArchKey acquires US Communications & Electric, adding a Cleveland technology integrator to its Eastern Region
The St. Louis–based electrical and technology systems contractor, owned by an affiliate of 26North since 2024, buys a Cleveland integrator founded in 1996 with more than 130…
MCL Mechanical Services partners with Medford Wellington, adding West Springfield and hot-side services to the New England group
MCL, a commercial mechanical contractor serving Massachusetts, Connecticut, and Vermont for more than 30 years, joins the Boston-area business continuity company’s family of…
Service Country adds five partner companies across Alabama, Georgia, Virginia, Oklahoma, and Mississippi
Grove Mountain Partners–backed Service Country, an Atlanta platform built around smaller Southeastern cities and towns, partners with GNG Plumbing, Bailey’s Heating & Air…
Glamorgan Heating & Cooling joins Rocket Group’s network as its first New York brand
Mechanicville-based Glamorgan — founded by Nick Hitt in 2022 and serving 25-plus Capital Region communities — partners with Victor Rancour’s Rocket Group, which counts it as its…
Riverside-backed T3 Services Group acquires Element Home Services, densifying the Mountain West with four branches
Austin residential HVAC, plumbing, and electrical platform adds a 2016-founded multi-branch operator across Jackson Hole, Durango, St. George, and Prescott — eight partner…
Roto-Rooter buys its largest franchise territory for $60.6 million.
Chemed’s plumbing subsidiary pays $60.6 million for the largest independent Roto-Rooter franchise — California territories serving about 11 million people and previously doing…
Two Parks–backed Fix-It Group adds AL-DON Heating & Air Conditioning in St. Louis
A 1959-founded St. Louis residential HVAC shop joins the tradesperson-led Fix-It platform as owners Jeff Miller and his wife retire — densifying the metro after the mid-2026…
Broad Sky–backed Commonwealth Electrical Technologies acquires Horton Electrical Services, nearly doubling its Northeast workforce
Worcester’s electrical and energy platform folds in a third-generation Connecticut contractor with wastewater, solar, generators, and civil construction. Warren Horton stays on…
Grove Mountain–backed Team First adds Holloway Plumbing in the Texas Hill Country — its second named Texas partner
An Atlanta-framed residential plumbing platform still early in its 2025 launch densifies Kerrville after Midland’s Halls Rooter & Plumbing, keeping local brands on while it shops…
Kohlberg-backed Loenbro acquires Prism Electric in its largest deal, adding roughly 2,500 employees across Texas and Oklahoma
Westminster’s multi-craft mission-critical contractor folds in a 1994-founded TX/OK electrical specialist — data center, healthcare, industrial, aviation, and commercial — as a…
Titan Trades Alliance adds Semper Fi after Wilson — two splashy regional partners and aggressive pace barely a month after launch
The Guild Garage Group founders’ residential trades alliance lists Wilson (Stow, OH) and Semper Fi (Mesa, AZ) as partner brands, now claiming 7 markets and 700+ employees —…
Peterson Partners closes $510M continuation vehicle for Kelso Industries, with NorthSands Capital as sole lead
Single-asset CV for the Draper, Utah MEP platform. Fund X stays in with a roll and add-on; NorthSands commits more than $450M of new capital for acquisitions, people, and markets…
More PE-backed HVAC, plumbing, and electrical platforms are headed to market
Expect an active 12–18 months of platform-level exits in residential multi-trade. Homepros’s report that General Atlantic–backed Flint Group has launched an early-stage sale…
Apollo-backed State Group acquires Evansville’s MelKay, adding a 75-year Tri-State MEP contractor with more than 400 union tradesmen
Franklin, Tennessee’s industrial multi-trade platform takes Mel-Kay Electric into southern Indiana, western Kentucky, and southern Illinois — preferred-vendor work for Toyota…
Limbach acquires Wisconsin’s 1901 Inc. for $63 million, implying about 5.7x expected 2027 adjusted EBITDA
Nasdaq-listed Limbach Holdings bought a 125-year Madison union MEP contractor for $63 million, plus up to $6 million of performance earnouts, and disclosed expected 2027…
Presidential Heating & Air Conditioning acquires Shipley and folds it into the brand, adding plumbing across Montgomery County
The Gaithersburg, Maryland business — part of the Gryphon-backed Southern Home Services network — absorbs a local plumbing, heating, and cooling company and retires its name. A…
Quad-C-backed Flow Service Partners acquires Altman Air Conditioning, building commercial HVAC density on Florida’s east coast
The Nashville-area HVACR and plumbing platform adds a Lake Park mechanical contractor founded in 1985 — a second Florida commercial brand that sits opposite its existing Gulf…
Jackson Mechanical and Streets merge to form Jackson Streets MEP Contractors, Oklahoma’s largest union-staffed mechanical contractor
Two Oklahoma City firms founded in 1957 and 1960 have combined into a single multi-trade contractor carrying more than 250 union technicians and staff. No sponsor, no platform, no…
Kelso Industries adds three contractors in Alabama, Wyoming, and Washington, pushing its MEP platform further into industrial and infrastructure work
A 1958-founded diversified contractor in rural west Alabama, an industrial electrical specialist in Wyoming’s Powder River Basin, and a Spokane heavy civil builder organized…
SAS Service Partners acquires ProCure Heating & Air and retires the brand into Austin Air Conditioning
The Storr Group-backed Sun Belt platform folds a Buda, Texas company founded in 2024 into the legacy Central Texas brand it acquired to launch the platform — adding density along…
Airo Mechanical acquires Legrande’s Enterprises, entering Myrtle Beach in its first deal under CCMP Growth
The Mooresville, North Carolina-based multifamily and light commercial HVAC and plumbing installer adds a Myrtle Beach specialty contractor founded in 2009 — deepening its…
John Wilson and the Guild Garage Group founders launch Titan Trades Alliance, bringing a proven buy-and-build playbook to the residential trades
599 Holdings has formed Titan Trades Alliance with third-generation Wilson Plumbing & Heating as its founding partner company. The team behind it built Guild Garage Group into a…
Norlee Group acquires Vintage Electric, extending its Florida platform into the North Central market
The Heartwood-backed electrical platform adds a Gainesville-area contractor in its seventh add-on since October 2024, filling in the gap between its Jacksonville base and its…
Champions Group acquires Southern California’s Powell Electric, deepening electrical capability in its home market
The Blackstone-backed residential services platform has acquired a Southern California electrical contractor founded in 1971 — its first announced acquisition since February’s…
Service Logic acquires California building automation contractor L&H Airco, deepening its controls business in the West
The Charlotte-based platform — 155 locations, 61 operating companies, and more than 110 acquisitions — adds a Rocklin, California energy management systems contractor serving…
Reliable Services Partners adds Juneau’s All American Home Service, becoming Alaska’s largest residential heating company
The third acquisition under the RSP platform — and the 37th for its Dallas-based parent, SIG Partners — pairs a Southeast Alaska operator with RSP’s Interior and Mat-Su footprint…
Leap Partners expands in Tennessee with the acquisition of Cleveland-based Central Heat & Air
Nashville-based, PE-backed home-services platform Leap Partners has acquired Central Heat & Air, a four-decade HVAC provider serving Cleveland and the greater Chattanooga area —…
Blue Cardinal Home Services acquires Midland’s D&D Home Services, extending its Texas platform into the Permian Basin
Blue Cardinal Home Services has acquired D&D Home Services, a family-owned residential plumbing and HVAC provider that has served Midland and the broader Permian Basin since 1984…
Heritage Holdings acquires Airside Technology, adding a Central New York commercial HVAC contractor to its industrial-services platform
Boston-based Heritage Holdings has acquired Airside Technology Corporation — a four-decade-old East Syracuse commercial and industrial HVAC contractor with a union workforce and…
Modigent expands its Central Texas footprint with the acquisition of Waco-based P&E Mechanical
Phoenix-headquartered Modigent — a private equity-backed HVAC, plumbing, and controls platform built from roughly 20 operating companies coast to coast — has acquired P&E…
Advantage Services Group deepens its Colorado platform with the acquisition of Denver’s Doctor Fix-It
Advantage Services Group — the operator-sponsored residential HVAC, plumbing, and electrical platform built by David Williams and backed by his family office MRE Capital — has…
Sylvan Group adds Alabama’s Pettus Plumbing & Piping — and the AI-enabled MEP platform keeps building
A 43-year-old mechanical contractor with 250+ skilled professionals joins a platform backed by E-3 Tech with participation from Andreessen Horowitz. The deal extends Sylvan south…
Redwood Services enters Oklahoma with Tulsa’s Hendrick Heat, Air & Plumbing — its first investment in the state
Hendrick is barely six years old — and grew to 90 teammates and 25,000+ customers in that time. The deal says as much about what private equity consolidators are looking for as it…
MasTec to acquire The Superior Group for ~$1.65 billion — a rare public read on what scaled commercial electrical is worth
A century-old, family-owned electrical contractor is selling to a public strategic at roughly 7x forward EBITDA, with the deal built around data center and mission-critical…
Sila Services enters Western Virginia with Davis Heating and Air Conditioning — and keeps the buy-and-build going
Sila's acquisition of a 78-year-old Roanoke-area operator is a small deal on its own. But it's a useful marker of how a residential HVAC platform keeps compounding acquisitions…
Legacy Service Partners adds Lunsford Air Conditioning & Heating, extending its home-services platform into the Florida Panhandle
Tampa-based Legacy Service Partners has welcomed Lunsford Air Conditioning & Heating — a family- and veteran-owned Milton, Florida operator with more than four decades in…
Friendly Group's Nytech expands into the Denver Metro market with Ultimate Heating, Cooling, Plumbing & Electrical
Nytech Heating, Cooling and Plumbing — a Friendly Group partner serving Colorado's Douglas County for nearly three decades — has added Denver-area operator Ultimate Heating…
Huron Capital’s Exigent Group enters Columbus with Superior Building Services, its eighth mechanical-services acquisition
The Exigent Group, a commercial mechanical services platform backed by Huron Capital, has acquired Columbus-based Superior Building Services — its eighth acquisition since the…
Gray Capital Group builds a Texas HVAC platform, anchored by Delta Air Conditioning.
Since late 2024, Dallas-based Gray Capital Group has assembled four established Southeast Texas and Dallas–Fort Worth HVAC operators under the Delta Air Conditioning banner —…
Truelink Capital invests in Minneapolis-based Horwitz, establishing a new regional MEP services platform
Los Angeles-based private equity firm Truelink Capital has acquired Horwitz, a 108-year-old Minneapolis-based provider of mechanical, electrical, and plumbing services to…
FirstCall Group acquires Bensenville-based Comfort Indoor Solutions, opening its first Chicago-area branch
SkyKnight Capital-backed commercial mechanical services platform FirstCall Group has acquired Comfort Indoor Solutions (CIS), a 48-year-old Bensenville, Illinois-based commercial…
Flint Group adds Indianapolis-based Jake's Heating, Air & Plumbing to its national home services platform.
General Atlantic-backed Flint Group expands into Central Indiana with the acquisition of Jake's Heating, Air & Plumbing — a founder-led HVAC and plumbing operator known for…
Gemspring-backed AMPAM Parks Mechanical acquires Coastal Fire & Integration Systems, adding fire protection and low-voltage to its California MEP platform
AMPAM Parks Mechanical — one of California's largest integrated mechanical, electrical, and plumbing contractors and a portfolio company of Gemspring Capital — announced on June…
Partners Group-backed PremiStar acquires Salt Lake City's MSS, enters Utah and Kelso Industries' home market
PremiStar — the Partners Group-backed commercial HVAC, plumbing, and building automation platform formerly known as Reedy Industries — has acquired Mechanical Service & Systems of…
EMCOR-owned Miller Electric to acquire Daytona's Giles Electric — first add-on since EMCOR's $865M deal
Jacksonville-based Miller Electric Co. has agreed to acquire the assets of Daytona Beach-based Giles Electric Co., its first regional add-on since EMCOR Group acquired Miller for…
Advantage Services Group acquires Priority One Heating & AC, extends Pacific Northwest footprint
Advantage Services Group, the residential HVAC, plumbing, and electrical platform built by David Williams and backed by his family office MRE Capital, has acquired Priority One…
Two Parks Capital-backed Fix-It Group enters Florida with Sergeant's Electric acquisition
Founded in 2017 by CEO George Donaldson, Fix-It Group has scaled from a single Denver HVAC business into a multi-state residential service platform spanning Denver, Dallas…
Liberty Service Partners: 19 brands, one platform, and a Sun Belt-heavy bet on home services consolidation
Liberty Service Partners has assembled a multi-trade residential and commercial services platform spanning HVAC, electrical, plumbing, and generators — concentrated heavily in…
Grizzly MEP: five partners, one year, and a blueprint for commercial MEP consolidation
Backed by Garnett Station Partners, Grizzly MEP launched in May 2025 and has since built a multi-state commercial mechanical, electrical, and plumbing platform through five…
New HVAC & plumbing company launches in Southern California, uniting three Inland Empire brands.
Family Ties Air, Plumbing & Drain brings together AAVCO, MB Air & Plumbing, and First Choice Air & Plumbing under one family-focused brand — retaining local leadership while…
Heartwood-backed Norlee Group acquires Ireland Electric in Georgia.
Norlee Group completes its sixth add-on under Heartwood Partners, adding Ireland Electric Corp. — a full-service commercial and industrial electrical contractor serving the…
PE-backed NexCore announces acquisition of Air Comfort Systems in Connecticut.
Action Air, a NexCore partner company, has completed a tuck-in of Wallingford-based Air Comfort Systems — deepening density in southern Connecticut and adding a recurring…
Flint Group expands its HVAC platform with the acquisition of Air Around the Clock in Florida.
General Atlantic-backed Flint Group adds a nearly 40-year-old South Florida HVAC, refrigeration, and plumbing provider — deepening its position in one of the country's…
Apex Service Partners is taking a $10 billion minority investment from Apollo at ~20× EBITDA.
One of the highest comps residential HVAC has ever produced. A landmark deal that resets the multiple ceiling for the entire category — and validates the buy-side thesis. The…
Foundral acquires A. Hattersley & Sons, a 170-year-old mechanical contractor.
McNally Capital-backed Foundral adds Fort Wayne's oldest mechanical contractor to a fast-growing, union-backed platform. The deal is less about revenue than about something far…
Southern Home Services expands into Richmond with Blazer Heating, Air & Plumbing.
Gryphon-backed Southern Home Services makes its first acquisition in the Richmond region — its second in Virginia — picking up a 37-year-old residential HVAC and plumbing brand…
ARS / Rescue Rooter enters Denver with Tipping Hat Plumbing, Heating & Electric.
One of the country's largest residential service networks adds a roughly 80-person Denver operator — notable not just for the geography, but for the timing: ARS is reportedly…