Harris Williams Advises Crete Mechanical Group on its Partnership with Ridgemont Equity Partners
June 02 2022 - 5:27PM
Business Wire
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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For media inquiries, please contact Katie Langemeier at
media@harriswilliams.com.
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