PE Deals

Investcorp invests in HVAC equipment distributor Shearer Supply

Shearer's management team, the Shearer family and PNC Riverarch Capital, will remain shareholders in the company.

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  • Shearer was founded in 1983
  • The company serves over 5,500 customers from 22 branches across Texas, Oklahoma, Arkansas, Tennessee and Louisiana
  • Investcorp manages $50 billion in assets

Investcorp has made a majority investment in Shearer Supply, a Dallas-based distributor of HVAC equipment for residential and commercial properties in the Southern U.S. No financial terms were disclosed.

Shearer’s management team, the Shearer family and PNC Riverarch Capital, will remain shareholders in the company.

Shearer was founded in 1983. The company serves over 5,500 customers from 22 branches across Texas, Oklahoma, Arkansas, Tennessee and Louisiana.

“Shearer provides a compelling value proposition for both contractors and original equipment manufacturers, acting as a one-stop-shop local partner with a breadth of products, expertise and value-added services,” said Steve Miller, managing director, private equity – North America at Investcorp, in a statement. “This is an impressive family-owned and run business that has differentiated itself in its ability to scale and grow in excess of the market throughout its history and we are thrilled to be partnering with the Company’s highly motivated management team.”

Investcorp manages $50 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.