Service Experts Heating & Air Conditioning
Plano, TX
How it operates
One of the largest residential HVAC service networks in North America, owned by Lennox International until 2013 and then by American Capital before a 2016 exit. It acquires established local contractors to add density and, in the 2018 round, specifically to add residential plumbing capability to existing HVAC branches. VP of business development Todd Berkland described the Florida, Georgia and Texas round as expanding its footprint 'to offer plumbing services to our valued customers.' After that round it had 94 US and Canadian locations.
Tampa Bay brands (2)
Deal history in the region
Capital events
Recapitalizations, sponsor changes, debt raises, bankruptcies and exits at the platform level. These set the clock that local brands live on.
- new sponsor — Lennox International completed the all-cash sale of Service Experts to a majority-owned entity of American Capital Ltd., together with a two-year equipment supply agreement; terms not disclosed. [source]
- exit — Lennox sells the Service Experts residential network to an American Capital entity. Lennox International announced it had closed an all-cash sale of its Service Experts residential HVAC and plumbing service business to a majority-owned entity of American Capital, Ltd., alongside a two-year equipment supply agreement. Terms of both the sale and the supply agreement were undisclosed. Service Experts had been part of Lennox since its 1999 purchase of the Service Experts consolidator. The deal matters to Tampa Bay retrospectively: in September 2018 Service Experts acquired two established local companies, Midway Services of Seminole/Clearwater and The Pink Plumber of Tampa, both of which are already in this dataset. [source]
- exit — American Capital exited its ownership of Service Experts [source]
Frequently asked
Who owns Service Experts Heating & Air Conditioning?
We have not confirmed an outside investor behind Service Experts Heating & Air Conditioning; see sources.
Which Tampa Bay companies does Service Experts Heating & Air Conditioning own?
Does Service Experts Heating & Air Conditioning keep the local brand names?
2 of 2 Tampa Bay brands we track still operate under their original names.
Is Service Experts Heating & Air Conditioning private equity?
We classify Service Experts Heating & Air Conditioning as strategic contractor.
Sources Verified — primary document
- ACHR News (2018-09-13) — trade press. Midway Services and The Pink Plumber acquisitions, 94 locations, Berkland quote
- PE Professional (2016-03-01) — news. American Capital exit
- Contracting Business — trade press. American Capital acquisition of Service Experts from Lennox
- PR Newswire / Lennox International (2013-03-22) — press release. Lennox announcement that the sale closed March 22, 2013, all cash, terms undisclosed.
- ACHR News (2013-03-26) — trade press. Trade confirmation that American Capital completed the buyout.
- ACHR News (2021-01-01) — trade press. Directory entry under Lennox: 'In 2013, sold Service Experts to a majority-owned entity of American Capital Ltd., Bethesda, Md.'
Researcher notes: Ownership in September 2018 was not established by a source read directly; investor_slugs left empty rather than guessed. CEO not sourced. | Included for the 2013 platform ownership change only. No source read here shows Service Experts operating a Tampa Bay location in 2013; its Tampa Bay brands were acquired in 2018. Treat the local relevance as retrospective.
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