Posted on: February 14, 2012
By: Alan O'Neill
Posted in: Press Releases
Berkeys Air Conditioning and Plumbing of Southlake, TX announces a partnership with Abacus Plumbing of Houston, TX as part of a management recapitalization and growth equity investment. Berkeys investors, Alpine Investors and Skylight Capital helped finance the investment and partnership.
Abacus Plumbing is a leading provider of residential plumbing and sewer services in Houston, TX. Through a steadfast focus on technician training, a market-leading maintenance program aimed at keeping customers’ plumbing in top shape, and a commitment to delivering great value to homeowners, Abacus has created a distinguished brand reputation in the local market.
Both Berkeys and Abacus have experienced rapid growth over each of the last five years and the partnership will lead to additional expansion and growth opportunities for both businesses.
Collin Hathaway of Skylight stated, “After meeting with and evaluating hundreds of plumbing and HVAC service businesses, it is apparent that Abacus and Berkeys are far and away two of the best managed and best positioned regionally-focused home service businesses in the country. We are very excited to be working with the Abacus and Berkeys teams.”
The founders of both companies will continue to run their respective businesses. Abacus Founder and CEO, Alan O’Neill, added, “Collin, Alpine, and Berkeys founder, Bill Stevens, represent everything I’d want in partners: they are honest, have a long-term focus, and bring forth years of experience in growing small businesses, which will be critical to Abacus as we enter the next phase of growth. I could not be happier to have them as partners.”
The financial terms of the transaction were not disclosed.
Abacus is a leading provider of plumbing services in Houston. Established in 2003, the Company has garnered a reputation for top-notch service and the highest quality workmanship.
Berkeys is a leading provider of plumbing and HVAC services to homeowners in the Dallas/Ft. Worth metropolitan area. Established in 1975, the Company focuses on delivering an unmatched quality of service and continuously seeks ways to offer value to its loyal customers. http://www.berkeys.com
Based in San Francisco, Alpine Investors is a middle-market private equity firm that invests in growing companies in technology, businesses and consumer services. The firm’s $281 million of assets under management are used to provide liquidity to owners and fuel business expansion. http://www.alpine-investors.com
Based in Seattle, Skylight Capital is a small-cap private equity firm focused on investing in or acquiring small, privately-held companies in the Western and Central U.S. The firm strives to help business owners to create and capture value. http://www.skylight-capital.com