Service Logic.

Service Logic

Service Logic

The largest independent provider of aftermarket maintenance, repair and replacement services for commercial heating, ventilation and air conditioning (“HVAC”) equipment in the United States.  The company delivers its solutions to a diverse customer base of over 8,000 commercial, industrial and institutional clients on a self-perform basis through 34 locations across 25 states.
 

Sterling as Partners

Investment in Sales and Corporate Infrastructure
  • Named Craig Steinke, a Sterling Operating Partner who served on the Board of Directors of Service Logic, as CEO
  • Sterling helped build a world class management team, including the hiring of a CFO and a CMO, and promoting existing executives to COO and Director of Corporate Development
  • Sterling made significant investments in sales infrastructure to focus business model on driving recurring maintenance sales, including the hiring of a new CMO and 24 new maintenance sales representatives
  • Aggregate investment in corporate and sales infrastructure exceeded $7 million 
Acquisition Program
  • The Company completed 12 acquisitions under Sterling’s ownership period:  one acquisition in July 2013, two acquisitions in 2014, three acquisitions in 2015, three acquisitions in 2016 and three acquisitions in 2017
  • Sterling and the management team developed a focused, systematic approach for identifying, reviewing and executing acquisitions, resulting in a robust pipeline of actionable opportunities
Operating and Capital Structure Improvements
  • With Sterling’s financial support, Service Logic established a common corporate platform with industry-leading practices, including a common ERP system, a CRM system and a retirement and health plan
  • The Company developed and rolled out a national MobileTechTM field technology platform as well as a national sales training program
  • In July 2016, the Company completed a $206 million debt refinancing to refinance the Company’s existing debt and provide capital to complete up to four additional acquisitions