CAI Capital-backed Custom Air acquires Britech HVAC

Custom Air Conditioning has acquired Britech HVAC, a Kelowna, British Columbia-based provider of heating, ventilation, air conditioning and mechanical services.

Custom Air Conditioning has acquired Britech HVAC, a Kelowna, British Columbia-based provider of heating, ventilation, air conditioning and mechanical services. No financial terms were disclosed. Custom Air, a Port Coquitlam, British Columbia-based mechanical services company, has been backed since 2018 by Canadian private equity firm CAI Capital Partners.

PRESS RELEASE

Custom Air Conditioning Ltd. Announces Acquisition of Britech HVAC Ltd.

Vancouver, BC – November 25, 2021 – CAI Capital Partners (“CAI”) is pleased to announce that its portfolio company, Custom Air Conditioning Ltd. (“CustomAir” or the “Company”), has acquired Britech HVAC Ltd. (“Britech”). Based in Kelowna, British Columbia, Britech is a leading provider of heating, ventilation, air conditioning, and mechanical services in the 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 Britech to provide its customers with an expanded service offering and access to a greater number of highly skilled technicians.

“Blaine Michaud and Blaine Carver have built a great business and we are excited to be partnering with them and the rest of the Britech team,” said Peter Harteveld, CustomAir’s founder and CEO. “Britech has a high performing team that has developed a strong reputation in the Okanagan. We look forward to building on Britech’s strong reputation and continuing to provide an exceptional level of service to its customers.”

CustomAir’s investment in Britech marks the Company’s second acquisition in the Okanagan and 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. CustomAir is actively seeking new HVAC and plumbing acquisition opportunities in Western Canada.

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 Britech HVAC Ltd.

Britech has been providing heating, ventilation, air conditioning, and mechanical services to customers in the Okanagan for more than 15 years. The company is headquartered in Kelowna, British Columbia. For additional information, please visit www.britechhvac.com.

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 over C$1.5 billion of equity capital into companies across North America. For additional information, please visit www.caifunds.com.