M&A Deal Summary

Comfort Systems Acquires Summit Industrial

On January 2, 2024, Comfort Systems acquired construction company Summit Industrial from The Stephens Group

Acquisition Highlights
  • This is Comfort Systems’ 13th transaction in the Construction sector.
  • This is Comfort Systems’ 20th transaction in the United States.
  • This is Comfort Systems’ 4th transaction in Texas.

M&A Deal Summary

Date 2024-01-02
Target Summit Industrial
Sector Construction
Buyer(s) Comfort Systems
Sellers(s) The Stephens Group
Deal Type Add-on Acquisition

Target

Summit Industrial

Houston, Texas, United States
Summit Industrial is a heavy industrial contractor serving customers primarily in the power, chemical, paper, plastics, utilities, minerals and mining, and food/beverage markets. Summit provides customers turn-key solutions including construction, engineering, project planning, fabrication, installation, demolition and maintenance/repair services. Summit Industrial was founded in 1996 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Comfort Systems

Houston, Texas, United States

Category Company
Founded 1917
Sector Business Services
Employees15,800
Revenue 5.2B USD (2023)
DESCRIPTION
Entrance to Comfort Systems USA's corporate headquarters in Houston, Texas.
Entrance to Comfort Systems USA's corporate headquarters in Houston, Texas.

Comfort Systems is a provider of commercial HVAC, mechanical and electrical contracting to customers ranging from small businesses to Fortune 500 companies. Comfort Systems was incorporated in 1917 and is based in Houston, Texas.


DEAL STATS #
Overall 20 of 21
Sector (Construction) 13 of 14
Type (Add-on Acquisition) 18 of 19
State (Texas) 4 of 4
Country (United States) 20 of 21
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-22 Eldeco

Piedmont, South Carolina, United States

Eldeco is an operator of a privately owned company engaged in the electrical design and construction services in the Southeastern region. Eldeco was founded in 1972 and is based in Piedmont, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-02 J & S Mechanical Contractors

West Jordan, Utah, United States

J & S Mechanical Contractors provides mechanical construction services to commercial and industrial sectors across the Mountain West region of the United States. J & S works on many of the largest and most technical construction projects in their region. J & S Mechanical Contractors was formed in 1976 and is based in West Jordan, Utah.

Buy -

Seller(S) 1

SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.


DEAL STATS #
Overall 27 of 28
Sector (Construction) 2 of 2
Type (Add-on Acquisition) 12 of 12
State (Texas) 11 of 11
Country (United States) 24 of 25
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-06 Mitchell Gold + Bob Williams

Taylorsville, North Carolina, United States

Mitchell Gold + Bob Williams is a manufacturer of high-quality furniture in the U.S. The company's innovative and stylish products are sold in many of the country's specialty home furnishings retailers, catalog retailers, and the company's signature stores. Mitchell Gold + Bob Williams was founded in 1989 and is based in Taylorsville, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-09 Plimpton & Hills

Meriden, Connecticut, United States

Plimpton & Hills is focused on the distribution of HVAC and Plumbing products across the Northeast. Plimpton & Hills is based in Meriden, Connecticut.

Buy -