LORTON, Va. & ENGLEWOOD, Fla.--(BUSINESS WIRE)--United Air Temp, Air Conditioning and Heating ("UAT”), a portfolio company of Summit Park, is pleased to announce that it has completed a recapitalization of Grande Aire Services, Inc. (“Grande Aire”) and Haines Air Conditioning and Refrigeration (“Haines”) (collectively “Grande Aire” or “the Company”) a provider of heating, ventilation and air conditioning (“HVAC”) services in the Southwest Florida region. The recapitalization was performed in partnership with Grande Aire’s Founder and longstanding owner, Robert Miller.
Founded in 1992, Grande Aire provides HVAC repair, maintenance, and installation services primarily serving residential homeowners and condo-owners throughout the West Coast of Florida. The Company also services a small number of light commercial clients such as restaurants, resorts, and apartment buildings, as well as high-end custom homebuilders.
UAT, headquartered in Lorton, Virginia, is a leading provider of HVAC maintenance and replacement services to residential homeowners. The company operates in five states throughout the Mid-Atlantic and Southeast, including Virginia, Maryland, North Carolina, Georgia, and Florida, as well as the District of Columbia. Grande Aire represents the fourth company in Summit Park’s HVAC industry consolidation plan for the Mid-Atlantic and Southeast markets.
Robert Miller, President and CEO of Grande Aire, said, “I am excited for our companies to be joining forces with UAT and Summit Park. Throughout our 30-year history, Grande Aire has differentiated itself by providing top-notch service to our customers and being a great place to work for our employees. We believe our partnership with UAT and Summit Park will further enhance our ability do those things.”
Stephen Stites, Vice President at Summit Park, added, “Grande Aire is a terrific business that fits squarely in our strategy of partnering with market leading HVAC and plumbing businesses in attractive geographic markets throughout the Southeast and Mid-Atlantic. Grande Aire meaningfully expands our presence in Florida, which has been a key strategic focus for us. We’re excited to partner with Bobby and his team to continue the growth of the Company.”
About United Air Temp, Air Conditioning and Heating
United Air Temp, Air Conditioning and Heating LLC ("UAT") is a leading provider of residential heating, ventilation, and air conditioning (“HVAC”) services. Headquartered in Lorton, Virginia, UAT provides HVAC maintenance and replacement services to residential homeowners. Its primary operations are in Washington D.C, with additional operations in Maryland, Virginia, North Carolina, Georgia, and Florida. UAT has built a large, loyal customer base through its best-in-class service and responsiveness, as well as consistent, high-quality work from its skilled technicians. For more information, visit www.unitedairtemp.com.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including services, consumer and industrial growth. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. Currently, the firm is investing Summit Park III, a $245 million fund that closed in 2018. For more information, visit www.summitparkllc.com.