Airmax Heating and Cooling, a leading residential HVAC contractor in Wilmington, NC, has finalized a strategic partnership facilitated byMidStreet Mergers & Acquisitions with Columbia Home Services (CHS), a residential and light commercial home services platform based in Dallas, Texas.
https://mma.prnewswire.com/media/2531306/MidStreet_Mergers_and_Acquisitions_Stephen_Beacham.jpg
Founded in 2001, Airmax has built a reputation for delivering high-quality HVAC services to homeowners throughout the region.
“Joining Columbia Home Services allows us to continue delivering top-tier solutions while expanding our capabilities,” said Stephen Beacham, founder and president of Airmax. “Columbia’s commitment to retaining our employees and improving operations means we can better serve our customers and expand the business.”
Beacham will remain as president of Airmax, continuing to lead the company with the support of Columbia Home Services.
“We’re excited to bring Airmax into the Columbia Home Services family,”said Paul Adams, CEO of CHS. “Airmax’s strong reputation and dedication to quality align perfectly with our vision. By combining forces with Anderson Air and Hodges Electric, we’re strengthening our presence in Wilmington and ensuring long-term success.”
For Beacham, finding the right partner was key to creating growth opportunities for his employees and transitioning out of daily operations.
“It was a privilege to help Stephen achieve a successful outcome for Airmax,” said Jonah Pollone, M&A advisor at MidStreet. “Columbia Home Services is an ideal partner, bringing the resources needed to take Airmax to the next level.”
MidStreet’s president, Jeff Baxter, also commented on the HVAC industry trends influencing the deal:
“This is one of several HVAC transactions we’ve recently completed. We’re seeing unprecedented interest in the sector from strategic buyers and private equity.” said Baxter. “For the right companies, now is a great time to consider an exit. For lower-middle market HVAC contractors with less than 30 percent new construction exposure, we’re seeing EBITDA multiples ranging from 7 to 10X. Private equity’s growing interest in blue-collar industries, especially home services, continues to drive these trends.”
Private equity firms are increasingly targeting blue-collar sectors like HVAC, plumbing, and pest control, as these essential services have proven resilient and offer strong growth potential. Recent years have seen a surge in private equity-backed platforms in the home services industry, reflecting the growing demand for consolidation and expansion in this space.
MidStreet Mergers & Acquisitions, a leader in lower-middle-market transactions, represented Airmax Heating and Cooling in the sale. MidStreet specializes in helping blue-collar businesses find strategic partners for long-term success.
https://mma.prnewswire.com/media/2531307/MidStreet_Mergers_and_Acquisitions_Logo.jpg
https://c212.net/c/img/favicon.png?sn=CL31643&sd=2024-10-15
View original content to download multimedia:https://www.prnewswire.com/news-releases/airmax-heating-and-cooling-partners-with-columbia-home-services-to-expand-hvac-presence-in-north-carolina-302276880.html
SOURCE MidStreet Mergers & Acquisitions
https://rt.newswire.ca/rt.gif?NewsItemId=CL31643&Transmission_Id=202410151433PR_NEWS_USPR_____CL31643&DateId=20241015
COMTEX_458830012/1005/2024-10-15T14:33:59