Affordable Water Heaters, a portfolio company of Dubin Clark, has acquired Valencia, California-based Temperature Control Inc, a provider of water heater and plumbing services. No financial terms were disclosed.
BOSTON, MA & JACKSONVILLE BEACH, FL – June 18, 2021 – Dubin Clark, a private equity firm focused on building niche market leaders in the lower middle market, announced today that portfolio company Affordable Water Heaters and Plumbing, Inc. (“AWHAP”) has completed the acquisition of Temperature Control, Inc. Financial terms of the transaction were not disclosed.
AWHAP, headquartered in Valencia, CA, is a leading in-home provider of water heater and plumbing services, including same-day water heater replacement, repair and installation of gas and electric water heaters, installation of tankless water heaters, and ancillary water heater and plumbing services. AWHAP has established a reputation for expertise, workmanship, and honesty in the water heater installation industry that sets them apart in the market. Dubin Clark initially invested in AWHAP in July 2020.
Temperature Control is a leading provider of HVAC installation and replacement services for high-end residential customers throughout the Los Angeles area. The company installs and replaces entire HVAC systems, as well as replacing individual components in older systems with a focus on maintenance and remodeling activities. In addition, Temperature Control offers a variety of ventilation and air quality products and services that are designed to create healthier indoor spaces and support the current consumer focus on indoor air quality standards. Temperature Control is headquartered in Woodland Hills, CA.
Mike Hompesch, Partner at Dubin Clark, said, “Temperature Control is an excellent fit for AWHAP. The acquisition will allow AWHAP to broaden its service offering and provides access to customers in a niche market. We look forward to working with management to leverage access to these new markets to drive growth and create value across the combined company.”
Alex Stuckey, CEO of AWHAP, commented, “We are excited to add Temperature Control to the AWHAP family as we build a comprehensive home services platform. We look forward to working together to pursue the new growth opportunities afforded by our combined businesses. In addition, we are working hard to integrate our back office and service infrastructure, which will allow us to provide excellent service to our customers.”
About Dubin Clark
Dubin Clark is a private equity firm with offices in Boston, MA and Jacksonville, FL. The Dubin Clark team is led by experienced private equity professionals who bring decades of success in lower middle market investing. Dubin Clark targets lead or control investments in branded niche manufacturing and specialty services segments with at least $8 million in sales (less for add-ons). The firm’s mission is to create value by helping portfolio companies grow through a coordinated approach that includes providing the capital necessary to support internal growth, completing complementary add-on acquisitions to build market position, and helping develop new strategies for the future, while protecting the independence, culture and values that made the company successful. For additional information, visit www.dubinclark.com.
About Affordable Water Heaters and Plumbing, Inc.
Since 1995, Affordable Water Heaters and Plumbing, Inc. has served as a leading, in-home service provider for same-day/emergency water heater replacements, gas and electric water heater repair and installation, tankless water heater installation, as well as a variety of other water heater and plumbing services. For more information, visit www.awhap.com.
About Temperature Control, Inc.
Founded in 1987, Temperature Control, Inc. is a leading provider of HVAC installation and replacement services for residential customers throughout the Los Angeles area. For more information, visit www.temp-control.com.