May 16, 2016
MSouth Closes the Acquisition of Southern Air & Heat
Atlanta, GA (May 16, 2016) – MSouth Equity Partners, an Atlanta-based private equity firm, announced the closing of its newest investment. In partnership with management, MSouth completed the acquisition of Southern Air & Heat.
The Company, headquartered in Edgewater, FL, is a leading provider of essential maintenance, repair, replacement and new installation services for the residential and commercial heating, ventilation and air conditioning (“HVAC”) markets. The Company operates under two distinct, market-leading brands in its regional footprint. Advanced Air & Heat of Florida LLC provides maintenance, repair and replacement services to the Edgewater, New Smyrna Beach, Port Orange and Daytona Beach markets. Yellow Dot Heating and Air LLC provides residential and commercial new installation, maintenance, service and repair to customers throughout the Raleigh-Durham, North Carolina market. Currently, the Company serves over 70,000 homeowners across its target markets.
Charles Stubbs, an MSouth Partner, said, “We are very excited about our investment in Southern Air & Heat. The management team has built a scalable platform and has identified a unique opportunity to be an early consolidator in the coastal HVAC market. We look forward to partnering with the Southern Air & Heat team and participating in the Company’s next phase of growth.”
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $150 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of companies in sectors where the firm has significant investment, management and transactional experience. MSouth invests with the objective of increasing operating cash flow through growth initiatives and active ownership. A key element of MSouth's investment strategy is partnering with proven management teams to create value. Founded in 2007, MSouth manages $1.3 billion with three active funds. MSouth is the successor to Cravey, Green & Wahlen, which was formed in 1984.