Detroit-based private equity firm Huron Capital Partners announced that its HVAC and plumbing installation, retrofit, and repair services platform in Texas, Pueblo Mechanical and Controls, has acquired Central Air and Heating Service Inc., also in the Lone Star State.
The transaction, for which financial details weren’t disclosed, expands Pueblo’s presence into south Texas.
Family owned and operated since 1972, CAHS provides schools, businesses, and other institutions with the installation, repair, and replacement of air conditioning and heating systems throughout the Rio Grande Valley.
“With the addition of CAHS, we will significantly expand our presence in Texas, providing us with the ability to serve the entire the state,” says Dan Bueschel, CEO of Pueblo. “We are excited to welcome another strong team of industry experts into our growing company.”
Over the past 49 years, CAHS has developed many long-term relationships with commercial and industrial customers, school districts, and colleges.
“Now, by joining forces with Pueblo, we will be able to expand our range of services and have access to greater resources,” says Frank Matz, the owner and president of CAHS who will remain with the company and continue to oversee CAHS. “This transaction will benefit our customers and will provide exciting new opportunities for our employees to advance in their field.”
The acquisition of CAHS is the second transaction in Texas this summer for Pueblo and is the eighth overall for the company. Huron Capital acquired Pueblo in 2017 in a partnership with Bueschel to pursue an ExecFactor buy-and-build strategy in the commercial HVAC and plumbing market in the Sun Belt region of the United States. ExecFactor combines a CEO’s industry expertise with Huron Capital’s investment experience and committed capital.
“We continue to see growing demand — especially across the Sun Belt — for HVAC services and Pueblo, with Dan’s leadership, has been growing rapidly to meet those needs,” says Scott Hauncher, a partner at Huron Capital Partner. “With the addition of Fort Worth-based Infinity Contractors in June and CAHS this month, Pueblo has quickly moved into Texas and will continue to explore a number of additional opportunities there and in other southern states.”