On October 23, 2026, The Chill Brothers announced its acquisition of Bowles Heating and Cooling, a second-generation HVAC company in San Angelo, Texas. The company says Bowles is its 10th acquisition. Bowles keeps its name, and Nathan Bowles, son of founder Guy Bowles, stays on to run it as general manager.
The asset.
Guy Bowles founded Bowles Heating and Cooling in 1980. The company provides residential and light commercial HVAC service in San Angelo and the surrounding Concho Valley. It serves more than 14,000 customers and has an established base of recurring maintenance customers.
Nathan Bowles has spent 18 years at the company and became its second-generation owner in 2021. He and the existing leadership team will continue to manage the business under Chill Brothers’ ownership. “When your family’s name is on the business, choosing who comes next is about much more than a transaction,” he said in the release.
The buyer.
The Chill Brothers was founded in 2020 and runs residential and commercial HVAC and home services businesses in Texas, North Carolina and Arizona under established local brands. It is a Lennox Premier Dealer and is majority-owned by Forum Asset Management, a North American investor and asset manager active in real estate, private equity and infrastructure. Brennan Mulcahy is CEO, and Neil Bhapkar leads corporate development.
The platform entered Arizona in February 2026 with Tucker Hill Air, Plumbing & Electrical in Phoenix, which it called its ninth acquisition. Bowles follows eight months later.
A base in West Texas.
Chill Brothers says Bowles gives it a base for further expansion across West Texas, through both organic growth and more acquisitions in the region. Bowles gets access to the platform’s technology, operating resources, marketing, training and capital.
San Angelo is a smaller market than the metros where platforms usually start. A 45-year-old brand with a large customer list and a maintenance base gives a buyer an established position from day one, and makes nearby add-ons easier to bolt on.
What it means.
For HVAC owners in West Texas, a PE-backed buyer has now said publicly that it wants more deals in the region. The Bowles terms show what this buyer values: the family name kept on the business, the owner kept in charge, and a recurring maintenance base. Owners in San Angelo, Abilene, Midland–Odessa and the surrounding towns can expect Chill Brothers to call.
Frequently asked questions
What did The Chill Brothers announce?
On October 23, 2026, The Chill Brothers announced the acquisition of Bowles Heating and Cooling in San Angelo, Texas, its 10th acquisition.
Who owns The Chill Brothers?
The Chill Brothers is majority-owned by Forum Asset Management, which invests in real estate, private equity and infrastructure. Brennan Mulcahy is CEO.
Will Bowles Heating and Cooling change its name?
No. Bowles keeps its name, and Nathan Bowles, who has owned the company since 2021, continues to lead it as general manager.
Running an established HVAC business in West Texas?
When a buyer says out loud that it wants more deals in your region, it pays to know where you stand before the call comes. Schryver & Co. helps HVAC owners weigh what their name, customer list and maintenance base are worth to a platform. Reach me at will@schryverco.com.
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