M&A Deal Summary

Trivest Partners and Halmos Capital Partners Acquire Thermal Concepts

On May 31, 2022, private equity firms Trivest Partners and Halmos Capital Partners acquired business services company Thermal Concepts

Acquisition Highlights
  • This is Trivest Partners’ 10th and Halmos Capital Partners’ 2nd transaction in the Business Services sector.
  • This is Trivest Partners’ 67th and Halmos Capital Partners’ 3rd transaction in the United States.
  • This is Trivest Partners’ 18th and Halmos Capital Partners’ 1st transaction in Florida.

M&A Deal Summary

Date 2022-05-31
Target Thermal Concepts
Sector Business Services
Buyer(s) Trivest Partners
Halmos Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Thermal Concepts

Davie, Florida, United States
Thermal Concepts is a provider of maintenance, repair and installation services for commercial HVAC and building control systems. Thermal Concepts was founded in 1983 and is based in Davie, Florida.

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Buyer(S) 2

Buyer

Trivest Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 4.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Trivest's corporate headquarters in Coral Gables, Florida.
Trivest's corporate headquarters in Coral Gables, Florida.

Trivest is a private equity firm that invests in North American middle-market corporate acquisitions, recapitalizations, and growth capital financings. For platform investments, sectors of interest include niche manufacturing, value-added distribution, business services, and consumer products/services. The Firm seeks businesses with at least $4 million of EBITDA and valued between $20 and $250 million. Trivest prefers control-based situations but will also consider minority or co-investment opportunities. For add-on opportunities, Trivest will consider companies globally with valuations starting at $1 million. Trivest Partners was formed in 1981 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 75 of 85
Sector (Business Services) 10 of 15
Type (Buyout (LBO, MBO, MBI)) 31 of 32
State (Florida) 18 of 18
Country (United States) 67 of 75
Year (2022) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-07 Creative Multicare

Atlanta, Georgia, United States

Creative is a provider of maintenance services to multifamily properties and single-family rental units, including plumbing/jetting, carpet cleaning, water mitigation, and resurfacing. The Company employs over 300 technicians performing quick and reliable service carrying out over 165,000 jobs a year. In addition to Atlanta, the Company has operations in Orlando, Jacksonville, and Tampa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-06 OpenRoad

Austin, Texas, United States

OpenRoad partners with and invests in collision repair centers across the United States. OpenRoad believes that quality repairs, excellent technician training, shop culture and a passionate employee base are the gears that create a best-in-class collision center.

Buy -
DESCRIPTION

Halmos Capital Partners is a private equity firm focused on acquiring and investing in growth-oriented lower-middle market companies from founders and owners throughout North America. The Firm supports management buyouts, recapitalizations, and growth capital investments in businesses with EBITDA of $2 to $30 million and revenue between $10 and $100 million. Halmos Capital invests in a variety of industries including business services, manufacturing, and energy services. Halmos Capital Partners was established in 2016 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 3 of 4
Sector (Business Services) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 4
State (Florida) 1 of 1
Country (United States) 3 of 4
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-26 Cedarline Outdoor

Colorado, United States

Cedarline Outdoor is an outdoor hospitality investment platform focused on the RV park industry. Cedarline Outdoor is based in Colorado, United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-15 Northpoint

Woodstock, Georgia, United States

Northpoint is a provider of roof repair and replacement services to single-family and multi-family residential customers in the greater Atlanta metropolitan area. The company also provides roof restoration services to commercial customers as well as solar and gutter installation services. Northpoint was founded 2019 and is based in Woodstock, Georgia.

Buy -