Viking Mergers & Acquisitions announces sale of Aire Care Mechanical to Liberty Service Partners
In a significant move within the HVAC industry, Viking Mergers & Acquisitions disclosed the acquisition of Aire Care Mechanical Heating & Cooling by Liberty Service Partners. This transaction is noteworthy for industry professionals and market observers, marking a pivotal development in the HVAC services sector.
Located in Knoxville, Tennessee, Aire Care Mechanical Heating & Cooling has been a prominent HVAC contractor recognized for its exceptional services in residential and commercial heating, cooling, and indoor air quality systems. The company, founded in 2015 by Jeff and Heather Davis, has established itself as a top-rated service provider in the greater Knoxville area.
Liberty Service Partners, the acquiring company, is a national leader in home upgrades, installations, and services, including HVAC, electrical, and plumbing. It is a part of a home services platform backed by NorthCurrent Partners, a private equity firm with headquarters in New York City. Liberty Service Partners emerged from NorthCurrent’s flagship investment in late 2020, focusing on businesses poised for growth, long-term success, and value creation.
Nick Rossino, the Head of M&A at Liberty Service Partners, highlighted the strategic value of acquiring Aire Care, stating, “Aire Care represents a strategic acquisition for Liberty as we continue to expand in the Southeast. It’s clear that Jeff and his team have a deep knowledge of HVAC and are a respected brand in their marketplace. We are excited to have Jeff continue with Liberty as we help Aire Care achieve their next phase of growth.”
Jeff Davis expressed his optimism about the partnership, remarking on the seamless experience of joining forces with Liberty Service Partners and the anticipated growth and expansion opportunities it brings. Kyle Valentine of Viking M&A, who served as the sell-side advisor, echoed this sentiment, underscoring the promising prospects for the partnership in East Tennessee.
This acquisition is a testament to the dynamic nature of the HVAC services market, reflecting a trend toward consolidation within the industry. It underscores the value of strategic partnerships and investments in enhancing service offerings and expanding market presence.