TORONTO, ON / ACCESSWIRE / August 2, 2022 / The Chill Brothers ("Chill Brothers") is pleased to announce the acquisition of Texas Central Air, an installer and service provider for commercial and industrial HVAC equipment. Terms of the transaction were not disclosed. Chill Brothers is majority owned by Forum Asset Management ("Forum").
"We are very pleased to complete our first acquisition and enter the commercial HVAC space," says Brennan Mulcahy, CEO of Chill Brothers. "Since starting our business less than 2 years ago in 2020, we have become one of the largest residential HVAC dealers in Houston. We have accomplished this through excellence in service and customer experience. Texas Central Air shares in these values and has built an exceptional business with a great reputation."
"I am proud of the business and relationships we've built by delivering quality commercial HVAC services since 2008," says David Kagan, CEO and Founder of Texas Central Air. "We are very excited to join the Chill Brothers organization and work with the management team to achieve our next stage of growth."
Management and employees of Texas Central Air will remain with the company and continue to serve their customers and community by operating as a separate business, under the continued management of David Kagan as well as newly hired General Manager Jonathan "Bailey" Hanna.
"We are excited to support the Chill Brothers team in their continued growth and expansion," says Duncan Ramage, Managing Partner - Private Equity at Forum. "This marks the first acquisition under the Chill Brothers' recently launched acquisition program. We are pleased with the early momentum of the program and the company's pipeline of acquisition, partnership and other growth opportunities."
Chill Brothers is continuously looking to add new residential and commercial HVAC service locations to its growing platform. Interested owners are encouraged to visit the Chill Brothers website at thechillbrothers.com/for-owners.
About Chill Brothers
Chill Brothers is on a mission to provide American families with the most reliable and affordable HVAC and air purification services available. Our customer-first approach means that our fully trained and certified professional staff provide homeowners with a thorough in-home consultation, and support through their whole home air quality and energy efficiency journey. Chill Brothers was founded in 2020 with an experienced leadership team that has over 70 years of experience in building and scaling large home services businesses. Chill Brothers is proudly recognized as a Lennox Premier Dealer and were recipients of the prestigious Lennox Centurion Award. For more information on Chill Brothers, visit thechillbrothers.com.
About Forum
Forum is an investor, developer and asset manager operating across North America for over 25 years. Our core purpose is to deliver Extraordinary OutcomesTM to our stakeholders. Our adaptable, agile and dynamic team is committed to sustainability and responsible investing, creating value that benefits the communities in which we invest. Our investment focus includes real estate, private equity and infrastructure. The enterprise value of our assets under management currently exceeds C$1.7 billion.
Forum's private equity investment strategy is to provide growth, buyout and succession equity to sustainable infrastructure and essential service platforms in the middle market. We target investments that offer opportunities for positive impact, value creation and growth. For more information about Forum's private equity investment strategy, visit forumam.com/private-equity.
For further information or for interviews, please contact:
Burstyn Inc.
Amy Burstyn Fritz
[email protected]
416-671-0710
SOURCE: Forum Asset Management