PE-backed Thermal Concepts buys HVAC firm Irvine Mechanical

Thermal is a provider of maintenance, repair and installation services for commercial HVAC and building control systems in Florida.

  • The Irvine Mechanical purchase represents Thermal Concept’s first acquisition as a Trivest and Halmos Capital portfolio company
  • Halmos Capital Partners invests in lower middle market businesses
  • Trivest has roughly $4 billion in assets under management

Thermal Concepts, a portfolio company of Trivest Partners LP and Halmos Capital Partners, has acquired Orlando, Florida-based Irvine Mechanical, Inc, a provider of HVAC maintenance and installation services.

Irvine Mechanical was founded in 1990.

Larry Maurer, a founder and CEO of Thermal Concepts, said in a statement, “We are very excited about our partnership with Irvine Mechanical. It fits with our long-term strategy to execute add-on acquisitions, add scale and build one of the leading commercial HVAC services companies in the U.S. As importantly, Irvine and its employees are a cultural fit with our commitment to service and an attractive workplace for employees.”

The Irvine Mechanical purchase represents Thermal Concept’s first acquisition as a Trivest and Halmos Capital portfolio company.

Founded in 1983 and headquartered in Davie, Florida, Thermal is a provider of maintenance, repair and installation services for commercial HVAC and building control systems in Florida.

Halmos Capital Partners invests in leading lower middle market businesses.

Since its founding in 1981, Trivest has completed more than 400 investments, totaling approximately $7 billion in value. The firm has roughly $4 billion in assets under management.