“After meeting with and evaluating hundreds of plumbing & HVAC service businesses, it is apparent that Abacus is one of the best managed and best positioned regionally-focused home service businesses in the country."
Houston, TX (PRWEB) February 14, 2012
Southlake, TX | Alpine Investors (Alpine) and Skylight Capital (Skylight) announced the completion of a management recapitalization of Abacus Plumbing, a leading provider of residential plumbing and sewer services in Houston, TX. Through a steadfast focus on technician training, a market-leading maintenance program aimed at keeping customers’ plumbing in top shape, and a commitment to delivering great value to homeowners, Abacus has created a distinguished brand reputation in the local market. Abacus will partner with Alpine/Skylight portfolio company, Berkeys Air Conditioning and Plumbing in Southlake, TX.
Alpine partnered with Collin Hathaway of Skylight Capital to complete and help actively manage the investment. Collin brings to bear extensive experience in the plumbing and HVAC services industry through his involvement with several successful plumbing and HVAC service companies. Alpine is excited to leverage Collin’s industry and investment management expertise in order to build Abacus into a leading home services company.
Of Abacus, Collin said, “After meeting with and evaluating hundreds of plumbing & HVAC service businesses, it is apparent that Abacus is one of the best managed and best positioned regionally-focused home service businesses in the country. I am very excited to be working with the Abacus team.”
Abacus’ Founder and CEO, Alan O’Neill, will continue to run the business. Alan added, “Collin, Alpine, and Berkeys’ founder, Bill Stevens, represent everything I’d want in partners: they are honest, have a long-term focus, and bring forth years of experience in growing small businesses, which will be critical to Abacus as we enter the next phase of growth. I could not be happier to have them as partners.”
The financial terms of the transaction were not disclosed.
About Abacus Plumbing
Abacus is a leading provider of plumbing services in Houston. Established in 2003, the Company has garnered a reputation for top-notch service and the highest quality workmanship. http://www.abacusplumbing.net
About Berkeys Air Conditioning and Plumbing
Berkeys is a leading provider of plumbing and HVAC services to homeowners in the Dallas/Ft. Worth metropolitan area. Established in 1975, the Company focuses on delivering an unmatched quality of service and continuously seeks ways to offer value to its loyal customers. http://www.berkeys.com
About Alpine Investors
Based in San Francisco, Alpine Investors is a middle-market private equity firm that invests in growing companies in technology, businesses services and consumer. The firm's $281 million of assets under management are used to provide liquidity to owners and fuel business expansion. http://www.alpine-investors.com
About Skylight Capital
Based in Seattle, Skylight Capital is a small-cap private equity firm focused on investing in or acquiring small, privately-held companies in the Western and Central U.S. The firm strives to help business owners to create and capture value. http://www.skylight-capital.com
This material has been prepared or is distributed solely for informational purposes only within the institutional and broker community. An investment is subject to market fluctuations and economic conditions. An investment may lose value. Every investment has the potential for loss as well as profit. Past performance is no guarantee of future results and investment results. The information contained herein is the opinion of third-parties. There is no guarantee that these objectives will be met.