September, 30 2016
Sterling Investment Partners' Portfolio Company Service Logic Acquires Three More 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: Environmental Control, Inc. (“Encon”), Thornton Service, Inc. (“Thornton”) and Webster Energy and Building Solutions, LLC (“Webster”). The acquisitions strategically complement Service Logic’s existing group of companies now totaling 31 locations across the United States, serving 25 states.
According to M. William Macey, Jr., Managing Partner and Co-Founder of Sterling, “These companies are leaders in their markets with excellent management. The acquisitions allow Service Logic to expand its presence in the Mid-Atlantic and Southwest regions, and into New York and Connecticut. Sterling is excited about the growth Service Logic has experienced through its nine acquisitions since Sterling's initial investment and its continued organic growth.”
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. Through its 1,400 dedicated employees, the Company provides a comprehensive suite of solutions to improve the energy efficiency and sustainability of its clients’ facilities.
Based in Stratford, Connecticut, Encon (www.goencon.com) is a market leader in commercial mechanical and high end residential HVAC maintenance and replacement services. Its wide array of services include the design and installation, service and replacement of HVAC, building automation, geothermal and solar systems to its residential and commercial clients.
Based in Rockville, Maryland, Thornton (www.thorntonservice.com) is a leading provider of commercial HVAC service solutions to organizations in the Washington, D.C. metropolitan area. Specializing in preventive maintenance and repair of commercial heating and cooling systems, Thornton supports a wide range of vertical markets, providing both full service and preventive, maintenance-only HVAC contracts to owner-occupied and managed buildings.
Based in Tucson, Arizona, Webster is a full service commercial mechanical provider specializing in the preventive maintenance, engineering design and installation of HVAC andcontrol systems in industrial and commercial facilities in Southern Arizona. Webster services a broad range of vertical markets with expertise in the industrial manufacturing and mining sectors.
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, industrial and consumer value-added distribution, niche manufacturing, and transportation and logistics. www.sterlinglp.com