Bundy Group advises United Air Temp in its acquisition of Albemarle Heating & Air

July 29, 2021

Bundy Group announces that is has advised United Air Temp, Air Conditioning and Heating ("UAT") and its private equity owner Summit Park in an acquisition of Albemarle Heating & Air.

Headquartered in Charlottesville, Virginia, Albemarle provides heating, ventilation and air conditioning (“HVAC”) services, including installation, repair and maintenance to residential and commercial customers. Headquartered in Lorton, Virginia, UAT provides HVAC maintenance and replacement services to residential homeowners.

Michael Giordano, CEO of UAT, said, “We are excited to partner with the management team and employees of Albemarle and look forward to building upon the excellent reputation they’ve built in the Charlottesville market. Albemarle is a natural extension of our operations in Virginia and consistent with our strategy of building a business of leading brands in attractive markets.”

Ralph Sachs, General Manager of Albemarle, added, “We look forward to our partnership with UAT and Summit Park. We have always prided ourselves on our culture of integrity and customer service and we are thrilled to have found partners that share our values.”

Bundy Group advised Summit Park and United Air Temp in the transaction.

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 and the surrounding area in Northern Virginia and Maryland, with additional operations in 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.

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 business and consumer services, light manufacturing, and value-added distribution in the Eastern half of the United States. 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. For more information, visit www.summitparkllc.com.

Bundy Group is an industry-focused investment bank that specializes in representing business owners and management teams in business sales, acquisitions, and capital raises. The 32-year-old firm has closed more than 250 transactions, specializing in several industries, including energy and infrastructure, healthcare and life sciences, industrials and manufacturing, and controls and automation.  For more information about our industry expertise and other recent transactions, visit https://bundygroup.com/industry-expertise/.

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