Dubin Clark-backed Sila makes two add-on acquisitions

Sila Heating and Air, which is backed by Dubin Clark, has acquired NETR and John S. Parker Home Service.

Sila Heating and Air, which is backed by Dubin Clark, has acquired NETR and John S. Parker Home Service. No financial terms were disclosed. Headquartered in North Andover, Massachusetts, NETR provides HVAC maintenance, repair, and installation services primarily for residential customers throughout New England. And, Kingston, New York-based JSP provides A/C and heating, plumbing, electrical, water and air purification services primarily for residential customers throughout Hudson Valley.

PRESS RELEASE

BOSTON, MA – May 07, 2021 – Dubin Clark, a private equity firm with offices in Boston, Massachusetts and Jacksonville Beach, Florida, announced today that portfolio company Sila Heating and Air (“Sila”) has completed two acquisitions: N.E.T.R. Inc (“NETR”) and John S. Parker Home Service (“JSP”). Financial terms of the transactions were not disclosed.

Sila Heating and Air is a leading provider of HVAC replacement, service, maintenance, plumbing solutions, and water treatment to a diversified base of residential customers. Sila services homeowners in the greater Philadelphia, Boston, D.C., NY/NJ/CT tri-state area and Hudson Valley. The company was founded in 1989 and is headquartered in King of Prussia, Pennsylvania. The NETR and JSP acquisitions are the fifth and sixth acquisitions made by the Sila since Dubin Clark’s investment in the initial platform.

NETR provides HVAC maintenance, repair, and installation services primarily for residential customers throughout New England. Heating services include dustless heating, hyper-heating, gas furnace installation, ductless maintenance, gas maintenance/repair and HVAC maintenance/repair. Cooling services include dustless cooling, AC installation, ductless maintenance, and HVAC maintenance/repair. NETR was founded in 1989 and is headquartered in North Andover, Massachusetts.

JSP provides A/C and heating, plumbing, electrical, water, and air purification services primarily for residential customers throughout Hudson Valley. Service offerings include expert plumbing services, expert HVAC and heating installation and repair, trenchless services, including sewer replacement, water heater services and drain cleaning. JSP was founded in 2006 and is headquartered in Kingston, New York.

Mike Hompesch, Partner at Dubin Clark, said, “We are pleased to complete the NETR and JSP acquisitions. These two excellent companies support our strategy of expanding Sila’s footprint and customer base. We are excited about the development of the Sila platform and management’s ability to on-board and grow new locations, and we look forward to continuing to support them in those efforts.”

Lou Pellegrini, CEO of Sila, commented, “With the addition of NETR and JSP to the Sila platform, we continue to grow as the leader in residential heating, air conditioning, plumbing and electrical services in the Northeast. We look forward to welcoming the teams at NETR and JSP and to help them grow by providing the extra systems and support of the Sila platform. We are very excited to have these quality companies on board.”

About Dubin Clark
Dubin Clark is a private equity firm with offices in Boston, MA and Jacksonville Beach, 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 investments in branded niche manufacturing and specialty services segments with at least $10 million in sales (smaller 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 to 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 Sila Heating and Air
Since 1989, Sila has offered a wide range of residential services for HVAC, plumbing and, indoor air quality. Sila serves the Northeastern and Mid-Atlantic United States, servicing customers from New Hampshire to Virginia. For more information, visit www.sila.com.

About NETR
Founded in 1989 and headquartered in North Andover, MA, NETR is a leading provider of HVAC maintenance, repair, and installation services throughout New England. For more information, visit www.netrinc.com.

About JSP
Founded in 2006 and headquartered in Kingston, NY, JSP is a leading provider of A/C and heating, plumbing, electrical, water, and air purification services throughout Hudson Valley. For more information, visit www.jspplumbingandheating.com.