M&A Deal Summary

Enercare Acquires Service Experts

On March 7, 2016, Enercare acquired consumer services company Service Experts from American Capital for 341M USD

Acquisition Highlights
  • This is Enercare’s 1st transaction in the Consumer Services sector.
  • This is Enercare’s 2nd largest (disclosed) transaction.
  • This is Enercare’s 1st transaction in the United States.
  • This is Enercare’s 1st transaction in Texas.

M&A Deal Summary

Date 2016-03-07
Target Service Experts
Sector Consumer Services
Buyer(s) Enercare
Sellers(s) American Capital
Deal Type Merger
Deal Value 341M USD
Advisor(s) Moelis & Co. (Financial)
Arnold & Porter LLP (Legal)

Target

Service Experts

Richardson, Texas, United States
website
Service Experts LLC is a provider of HVAC services, including inspections, maintenance, sales and equipment installation.

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Buyer(S) 1

Buyer

Enercare

Toronto, Ontario, Canada

website


Category Company
Founded 2002
Sector Electrical Equipment
Employees4,259
Revenue 1.3B CAD (2017)
DESCRIPTION

Enercare, Inc. is a provider of home and commercial services and energy solutions. Enercare provides water heaters, furnaces, air conditioners and other HVAC rental products, plumbing services, protection plans, and related services to more than 1.2 million residential and commercial customers. Enercare Inc. was founded in 2002 and is headquartered in Markham, Canada.


DEAL STATS #
Overall 3 of 4
Sector (Consumer Services) 1 of 1
Type (Merger) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-25 Direct Energy - Home Services Business

Ontario, Canada

Direct Energy - Home Services Business currently has nearly 1.9 million home services contracts in Ontario, to provide a range of plumbing, heating, ventilation, air conditioning and other related services.

Buy CA$550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Syles Mechanical

Tecumseh, Ontario, Canada

Syles Mechanical provides high-quality home comfort services to Windsor and Essex County residents and business owners. The company installs, services, and repairs furnaces, air conditioning units, boilers, and water heaters from all manufacturers in the industry. It also offers a variety of indoor air quality and maintenance services for residential and commercial properties as well as plumbing and electrical services. Syles Mechanical was formed in 1967 and is based in Tecumseh, Ontario.

Buy -

Seller(S) 1

SELLER

American Capital

website


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 173 of 194
Sector (Consumer Services) 1 of 2
Type (Merger) 8 of 10
State (Texas) 15 of 15
Country (United States) 167 of 186
Year (2016) 2 of 9
Size (of disclosed) 22 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-08 Warner Power

Warner, New Hampshire, United States

Warner Power LLC is a designer and manufacturer of electrical transformers and power systems. Warner Power was founded in 1948 and is based in Warner, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-15 Cambridge Major Laboratories

Germantown, Wisconsin, United States

Cambridge Major Laboratories, Inc. is provider of pharmaceutical intermediates and Active Pharmaceutical Ingredients (API) from early preclinical development to commercial manufacture.

Sell -