Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Crete Mechanical Group (CMG), a leading provider of HVAC, electrical, plumbing, and building automation services to commercial, industrial, multi-family, government, healthcare, education, and other end markets, on its partnership with Ridgemont Equity Partners (Ridgemont). Alongside the founders and management team of CMG, Ridgemont has provided significant growth capital to enable the continued build-out of a leading network of mechanical services providers across North America. The transaction was led by Brian Lucas, Bill Greven and Sam Funkhouser of the Harris Williams Business Services Group and Luke Semple of the firm’s Energy, Power & Infrastructure Group.
“This transaction strengthens the firm’s experience in the commercial services sector and reaffirms continued investor interest in platforms that provide mission-critical outsourced services,” said Brian Lucas, a managing director at Harris Williams. “Ridgemont will be a tremendous partner for CMG, and we are excited to see the accelerated organic and inorganic growth that the company will achieve through the partnership.”
“CMG delivers best-in-class HVAC and mechanical services expertise to a diverse customer base,” said Luke Semple, a managing director at Harris Williams. “We look forward to seeing founders Jake Sloane and Frank Zhang continue to deliver on their strategic vision and grow the company’s national platform alongside Ridgemont.”
CMG is a leading provider of commercial HVAC, electrical, plumbing, and building automation services to industrial, multi-family, government, healthcare, education, and other end markets. CMG provides a range of corporate, financial and accounting, human resources (including technician recruiting and retention), procurement, sales, best practice sharing, and general operational support resources to its national network of regional partners, while still maintaining a degree of local autonomy that promotes cultural continuity and customer responsiveness. CMG is actively seeking new relationships with owner-operators to grow the combined platform across North America.
Ridgemont is a Charlotte, North Carolina-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $6 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams Business Services Group has experience advising companies that provide a range of commercial, industrial and professional services. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams website.
The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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