Custom Air Conditioning Ltd has acquired Mavco Plumbing and Heating Ltd, a Penticton, British Columbia-based provider of heating, ventilation, air conditioning, refrigeration and plumbing services.
Terms weren’t disclosed.
Founded in 1994, Mavco provides its services to local residential and commercial customers, stratas, care homes, hospitals, government facilities, restaurants and wineries.
Custom Air, a Port Coquitlam, British Columbia-based mechanical services provider, said the deal significantly expands its presence in the B.C. Interior.
Last year, Custom Air secured an investment from Canadian private equity firm CAI Capital Partners to support its Western Canada-focused growth strategy.
Custom Air Conditioning Ltd. Announces Acquisition of Mavco Plumbing and Heating Ltd.
Vancouver, BC – May 28, 2019 – CAI Capital Partners (“CAI”) is pleased to announce that its portfolio company, Custom Air Conditioning Ltd. (“CustomAir” or the “Company”), has acquired Mavco Plumbing and Heating Ltd. (“Mavco”). Based in Penticton, British Columbia, Mavco is a leading provider of heating, ventilation, air conditioning, refrigeration and plumbing services in the South Okanagan.
The partnership brings together two companies with similar cultures and a shared goal of providing an exceptional level of service to their customers. The partnership also significantly expands CustomAir’s presence in the Interior of British Columbia and will allow Mavco to provide its customers with an expanded service offering and access to a greater number of highly skilled technicians.
“We are excited to be partnering with Mavco,” said Peter Harteveld, CustomAir’s founder and CEO. “Lance Maveety has built a strong business with a great reputation in the South Okanagan for performing quality work and providing exceptional service to its customers. It was important for us to partner with an organization that shares our values and invests in its employees and we believe we found a great fit in Mavco.”
CustomAir’s investment in Mavco aligns with the Company’s long-term strategy of growing its presence in British Columbia and building the leading mechanical services provider in the province.
About Custom Air Conditioning Ltd.
Founded in 1991, CustomAir is a leading mechanical services provider in British Columbia, Canada. The Company offers repair, planned maintenance, and installation services for a variety of equipment including heating, ventilation, air conditioning, refrigeration, plumbing, and boilers. The Company is headquartered in Port Coquitlam and has locations throughout the province. For additional information, please visit www.customair.ca.
About Mavco Plumbing and Heating Ltd.
Mavco has been providing heating, ventilation, air conditioning, refrigeration and plumbing services to customers in the South Okanagan for more than 20 years. The company provides maintenance and repair services to residential and commercial customers, stratas, care homes, hospitals, government facilities, restaurants, and wineries. The company is headquartered in Penticton, British Columbia. For additional information, please visit www.mavco.ca.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian lower middle market. Over three decades, CAI has invested C$1.5 billion into companies across North America. For additional information, please visit www.caifunds.com.