Thermal Concepts Announces the Acquisition of Irvine Mechanical Inc.
MIAMI, August 30, 2022 — Thermal Concepts, a portfolio company of Trivest Partners LP (“Trivest”) and Halmos Capital Partners (“Halmos Capital”), announces it has acquired Irvine Mechanical, Inc. (“Irvine Mechanical” or the “Company”). Founded in 1990 and headquartered in Orlando, Florida, Irvine Mechanical provides HVAC maintenance and installation services to commercial and industrial customers throughout the state. Over the Company’s greater than 30-year history, it has developed a reputation for outstanding quality and reliability with its customers, becoming a leader in the Central Florida market. Irvine Mechanical’s capabilities include servicing air-conditioning equipment with preventative maintenance service programs, equipment replacement or retrofit service, and controls system installation and retrofits.
Larry Maurer, Founder and CEO of Thermal Concepts, said, “We are very excited about our partnership with Irvine Mechanical. It fits with our long-term strategy to execute add-on acquisitions, add scale and build one of the leading commercial HVAC services companies in the U.S. As importantly, Irvine and its employees are a cultural fit with our commitment to service and an attractive workplace for employees.”
The Irvine Mechanical purchase represents Thermal Concept’s first acquisition as a Trivest and Halmos Capital portfolio company, and it intends to continue to pursue additional add-on opportunities to build scale and expand throughout the Southeast and additional geographies. We seek to partner with founders whose companies are leaders in their local commercial HVAC markets, have earned a reputation of excellence in mechanical service and are constructive stewards of all stakeholders.
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 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 and expertise with the most complex HVAC and controls systems. Visit www.thermalconcepts.com for more information.
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. Visit www.trivest.com for more information.