M&A Deal Summary

LightBay Capital Acquires Burton A/C Heating Plumbing & More

On December 14, 2021, private equity firm LightBay Capital acquired business services company Burton A/C Heating Plumbing & More from ShoreView Industries

Acquisition Highlights
  • This is LightBay Capital’s 3rd transaction in the Business Services sector.
  • This is LightBay Capital’s 7th transaction in the United States.
  • This is LightBay Capital’s 1st transaction in Nebraska.

M&A Deal Summary

Date 2021-12-14
Target Burton A/C Heating Plumbing & More
Sector Business Services
Buyer(s) LightBay Capital
Sellers(s) ShoreView Industries
Deal Type Secondary Buyout
Advisor(s) Cowen Group, Inc. (Financial)
Ballard Spahr LLP (Legal)

Target

Burton A/C Heating Plumbing & More

Omaha, Nebraska, United States
website
Burton A/C Heating Plumbing & More offers replacement, repair, and maintenance services to a large and growing customer base. The Company is a multi-brand platform that has completed six add-on acquisitions since inception, expanding its operations in Nebraska, Colorado, Wisconsin, and Kansas. Burton partners with regional HVAC, plumbing, and electrical services providers to help them grow their businesses through follow-on M&A along with additional organic growth tools and capabilities. Burton A/C Heating Plumbing & More is based in Omaha, Nebraska.

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Buyer(S) 1

Buyer
DESCRIPTION

LightBay Capital is a private equity firm focused on middle-market buyouts and distressed debt opportunities. The Firm will consider investing in the range of $50 to $250 million. LightBay Capital was formed in 2016 and is based in Los Angeles, California.


DEAL STATS #
Overall 7 of 8
Sector (Business Services) 3 of 3
Type (Secondary Buyout) 2 of 3
State (Nebraska) 1 of 1
Country (United States) 7 of 8
Year (2021) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Foundry

Austin, Texas, United States

Foundry has launched, scaled, and successfully exited brands that generated over $2B in revenue. The company uses its experience, industry expertise, and technology platform to acquire, build and grow enduring brands. Foundry was formed in 2021 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-11 Infinity Home Services

New Berlin, Wisconsin, United States

Infinity Home Services is a provider of residential roofing, siding, window, and gutter replacement in primarily the non-insurance, retail market. Infinity Home Services was founded in 1997 and is based in New Berlin, Wisconsin.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

ShoreView Industries is a middle-market private investment principally focused on partnering with family or entrepreneurial-owned companies. ShoreView will consider a variety of investment situations, including buyouts, leveraged recapitalizations, minority investments, and industry consolidations. Areas of interest include engineered products, distribution, industrial services, business services, and niche consumer products. ShoreView industries was established in 2002 and is headquartered in Minneapolis, Minnesota.


DEAL STATS #
Overall 26 of 27
Sector (Business Services) 1 of 1
Type (Secondary Buyout) 10 of 10
State (Nebraska) 1 of 1
Country (United States) 25 of 26
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-1 Monroe Engineering

Rochester Hills, Michigan, United States

Monroe Engineering is a distributor of a broad portfolio of custom and standard hardware and component products for original equipment manufacturers, as well as maintenance, repair and operations applications. Monroe Engineering serves customers across a wide range of end markets including aerospace, defense, medical, transportation, consumer goods, building products, and other diversified industrial markets. Monroe Engineering was established in 1968 and is headquartered in Rochester Hills, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 Crown

Bloomington, Minnesota, United States

Crown is a holding company comprised of Cartwright Distributing and Walcro, LLC. Crown Products was founded in 2019 and is based in Bloomington, Minnesota.

Buy -