Halmos Capital Announces Partnership with Thermal Concepts
MIAMI, May 31, 2022 — Halmos Capital Partners (“Halmos Capital”), a private equity firm focused on lower middle-market companies, and Trivest Partners (“Trivest”) announced they have partnered with Thermal Concepts, one of the largest providers of maintenance, repair and installation services for commercial HVAC and building control systems in South Florida.
Thermal Concepts, founded in 1983, has dedicated its efforts to building unique local service delivery infrastructure focused on helping customers maintain the long-term integrity and performance of an existing building’s HVAC and controls system through properly scheduled maintenance.
The partnership serves as the initiation of a platform in the commercial HVAC services industry which will be led by its existing management team. Larry Maurer, the founder of Thermal Concepts, who brings four decades of commercial HVAC experience, will continue to serve as CEO of Thermal Concepts.
“Thermal Concepts has been a leader in commercial HVAC services in South Florida for over 39 years. I am excited to enter into a partnership with Halmos and Trivest that I believe will accelerate our growth throughout the state of Florida and the Southeast. Access to their resources and experience scaling founder-owned businesses will allow us to capitalize on opportunities we see in the market. I am confident that with their support Thermal Concepts will continue to provide exceptional service for its employees, customers and the community.”
“Larry and his team have built a best-in-class company with a well-recognized local brand due to their unique emphasis on customer service and ability to consistently deliver high quality results for customers,” said Daniel Adan, Partner at Halmos Capital. “We are excited to support this transaction that positions Thermal Concepts to expand its unique service approach into attractive and new high-growth markets.”
Trivest Partners, with offices in Miami, Charlotte, Chicago, Los Angeles, Philadelphia, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the U.S. and Canada, in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4 billion in assets under management, with a growing team of over 60 professionals. Trivest is one of only 15 firms recognized by Inc. Magazine as one of the top founder-friendly private equity firms in three consecutive years.
About Thermal Concepts
Founded in 1983 and headquartered in Davie, FL, Thermal is a leading provider of maintenance, repair and installation services for commercial HVAC and building control systems in South Florida. The company’s leadership team oversees a unique local service delivery infrastructure focused on helping customers maintain the long-term integrity and performance of an existing building’s HVAC and controls system through properly scheduled maintenance. Thermal has grown over its 40-year history due to its singular focus on providing exceptional quality customer service.