Detroit — Leading lower-middle-market private equity firm Huron Capital announced today that its HVAC replacement, retrofit and repair services platform, Pueblo Mechanical & Controls (“Pueblo”), has acquired Commercial Air, Inc. (“Commercial Air”).
Commercial Air was founded in 1996 in Phoenix, Arizona. The company designs, installs and maintains air conditioning, refrigeration and heating systems and serves customers across a range of industries including commercial office, hospitality, education, and transportation. Commercial Air’s staff of experienced field technicians will provide the combined company with one of the largest and most highly trained technical service groups in Arizona.
“We are proud to join Pueblo and look forward to growing together with one another,” said Karl Thompson, President of Commercial Air, who will remain with the company. “We believe Pueblo’s management resources and expertise in the HVAC industry are a great fit with our commercial service offerings and will enable us to continue to support our customers at the highest level.”
“Commercial Air is a strong company known for its reliable reputation and excellent service,” Pueblo CEO Dan Bueschel said. “We look forward to uniting our management expertise and sales force with Commercial Air’s capabilities and leveraging our combined resources to support a wide variety of commercial and industrial HVAC services.”
Huron Capital formed Pueblo to pursue a buy-and-build strategy in the commercial HVAC market in the Southwestern United States. In addition to Commercial Air, Pueblo is seeking other add-on acquisition opportunities in Arizona and the surrounding states, including Texas, Colorado, New Mexico and Utah, to fuel growth moving forward.
“We believe Commercial Air’s diverse client base and trusted services represent an excellent cultural and regional fit that will deepen Pueblo’s presence in Arizona and help support our expansion strategy,” Huron Capital Vice President Danielle Lalli said. “We are excited to welcome Commercial Air as the first addition to the Pueblo family and to continue to provide exceptional HVAC services to our customer base.”
