June 30, 2017
Sterling Investment Partners' Portfolio Company Service Logic Acquires Three HVAC Providers
Sterling Investment Partners ("Sterling"), a private equity firm that has been investing in and building middle-market companies for over 25 years, announces that its portfolio company, Service Logic, acquired three heating, ventilation and air conditioning (“HVAC”) service companies: Kerney & Associates (“Kerney”), Colorado Climate Maintenance (“CCM”) and Commercial Air Services, Inc. (“CAS”). The acquisitions strategically complement Service Logic’s existing group of companies now totaling 34 markets across the United States.
Headquartered in Charlotte, North Carolina, Service Logic (www.servicelogic.com) is a provider of mission-critical services for HVAC systems, chilled water systems and building automation and controls to commercial, industrial and institutional clients. The Company provides a comprehensive suite of solutions to improve the energy efficiency and sustainability of its clients’ facilities.
Kerney & Associates
Kerney & Associates (www.kerneyandassociates.com) was established in 1992 and serves South Eastern Florida. The company specializes in mechanical retrofit projects for large institutions, hospitals and as a support service for HVAC original equipment manufacturers.
Colorado Climate Maintenance
Colorado Climate Maintenance was founded in 1997 in Englewood, Colorado. The company serves the Denver metropolitan area and provides maintenance and project-oriented HVAC services.
Commercial Air Services
Based in North Branford, Connecticut, Commercial Air Services (www.comairserv.com) provides HVAC maintenance and replacement services to commercial and industrial clients. Its services include the design and installation, service and replacement of HVAC, building automation, geothermal and solar systems to its residential and commercial clients.
Sterling Investment Partners
Sterling Investment Partners is a private equity firm with a highly experienced, cohesive team of senior investment professionals. Sterling acquires businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Sterling has over $1.5 billion in initial fund commitments. Over its history, Sterling has completed platform investments, strategic or add-on acquisitions, recapitalizations and liquidity events with an aggregate transaction value of over $12 billion, representing more than 100 transactions. Key industries Sterling focuses on include business services, consumer, transportation and logistics, specialty manufacturing and value-added distribution. www.sterlinglp.com