McNally Capital Announces New President of Portfolio Company Smith & Oby

The Smith & Oby Company, a Midwest-based HVAC and Plumbing Mechanical Contractor and Services Provider, Appoints New President and General Manager

CHICAGO--(BUSINESS WIRE)--McNally Capital (“McNally”), a private equity firm, is pleased to announce that The Smith & Oby Company (“Smith & Oby”), a portfolio company of the firm, has appointed Jake Wattenbarger as its new President and General Manager. Smith & Oby is a leading Midwest HVAC and plumbing mechanical contractor and services provider primarily serving the healthcare, education, commercial & industrial, and civic end markets.

McNally worked alongside the management team and board to conduct a thorough and successful search process. “We are thrilled to have found Jake for this role,” said Ravi P. Shah, Principal at McNally Capital. “As a northeast Ohio native with over 24 years of engineering, project management, and commercial construction experience spanning many leadership roles, Jake was the perfect fit for Smith & Oby. His wealth of industry knowledge, local relationships, and natural leadership will further strengthen the company’s strategic capabilities and growth trajectory.”

Jake is a seasoned professional recognized for demonstrating a natural aptitude for guiding multi-million-dollar construction projects from planning to delivery, as well as for efficiently addressing complex issues and engaging with cross-functional stakeholders. His industry acumen and strategic leadership will be essential in fostering the company’s business development and long-term vision while ensuring optimal day-to-day operational and financial management.

“It is an honor to join the Smith & Oby team and to lead such a deeply historied company that has established itself as a highly reputable brand name in the industry. I look forward to helping them expand upon the exceptional growth they have already achieved over the past 125 years,” stated Jake Wattenbarger, President and General Manager of Smith & Oby.

About McNally Capital

McNally Capital is a lower middle market private equity firm targeting thesis-driven investments in the U.S., specifically focused on acquiring founder and management-owned companies. Formed by the McNally family, who owned and operated Rand McNally & Company, McNally Capital is dedicated to upholding a 160+ year legacy as a family-owned and operated company. We look for businesses where we believe we can apply our hands-on experience, institutional capabilities, and proprietary value creation framework to benefit management teams in their next phase of growth and build value for our investors. For more information, please visit www.mcnallycapital.com.

About Smith & Oby

Smith & Oby is a 125 year old privately owned and operated mechanical contracting firm delivering services including, but not limited to: HVAC, plumbing, process piping, project budgeting and estimating, 3D-BIM, design/build, engineering, service & maintenance, and 24/7 emergency service. Throughout its storied history, the Company’s expanding services and capabilities have made it a benchmark for quality and professionalism in the construction industry. Dedicated to expert craftsmanship and customer satisfaction, Smith & Oby has a reputation for overall performance excellence that has led to major industrial, institutional, commercial and civic projects. By staying on the leading edge of technology and maintaining our focus on the customer’s expectations, Smith & Oby is poised to continue our craft well into its second century. Smith & Oby operates efficiently and expeditiously to maintain its goal of being one of the finest turn-key mechanical services the region has to offer. Smith & Oby was recognized as the Mechanical Contractor of the Year by Plumbing & Mechanical Magazine in 2019. For more information, please visit www.smithandoby.com.