Empowering Growth and Success: The Acquisition of Summit Industrial Construction by Comfort Systems USA
Gracie Gottlieb | 2 January, 2024
In an exciting development, The Stephens Group, LLC ("The Stephens Group") has announced the sale of Summit Industrial Construction, LLC ("Summit") to Comfort Systems USA, Inc. This definitive agreement marks a significant milestone for both companies and sets the stage for continued growth and success in the industrial construction sector.
Summit, based in Houston, Texas, is a specialty industrial mechanical contractor that offers engineering, design-assist, and turnkey construction services to the advanced technology, power, and industrial sectors. With a focus on modular systems, Summit excels in process piping, equipment setting, large pipe rack trestles, steel erection, and specialty concrete work. Their expertise has made them a trusted supplier to leading companies in the advanced technology and industrial domains, and they are currently involved in several major chip fabrication projects.
Under the guidance of The Stephens Group, Summit has experienced remarkable growth and development over the last twelve years. A trusted partner, The Stephens Group has provided invaluable support, enabling Summit to expand its team, evaluate acquisition opportunities, and strategically shift its market focus. This partnership has positioned Summit for an exciting future as it joins forces with Comfort Systems.
Witt Stephens, CEO and Co-Chairman of The Stephens Group, expressed his excitement about the transaction, stating, "It's been a pleasure to partner with Jeff since the founding of Summit Industrial. He and the talented team at Summit have done a remarkable job building their capabilities to become a leading industrial contractor. We are excited about this transaction for them and the future for the company under Comfort Systems."
Jeff Johnson, CEO of Summit, also shared his enthusiasm for the acquisition, highlighting The Stephens Group's support throughout the years. Johnson stated, "The Stephens Group has been a wonderful and patient partner the last twelve years. With their support, we added key personnel to our team, evaluated several acquisition targets, and strategically shifted our end markets of focus. We are excited to continue our growth with Comfort Systems."
Johnson further emphasized the strategic synergies between Summit and Comfort Systems. He believes that the complementary capabilities and assets of both companies will enable them to better serve their customers and provide even more value. Johnson also noted the strong cultural alignment and shared commitment to team members at all levels, which will undoubtedly contribute to a successful partnership.
The acquisition of Summit by Comfort Systems represents a bright future for both entities. Comfort Systems, a leading provider of commercial, industrial, and institutional heating, ventilation, air conditioning, and electrical services, brings additional resources and capabilities to the table. Together, Summit and Comfort Systems can continue their strategic focus, capitalize on new opportunities, and deliver exceptional results to their clients.
As a private investment firm, The Stephens Group partners with talented management teams to build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, The Stephens Group combines the operational expertise of a private equity firm with long-term capital. With over $2 billion of private equity assets under management, the firm has a successful track record of providing informed, sophisticated expertise and working closely with owners and managers to achieve strategic visions and long-term value.
Since its inception in 2006, The Stephens Group has invested in over 50 companies across various industries in the United States, including industrial and commercial products and services, specialty distribution, technology infrastructure, and vertical software. Their extensive experience and strategic approach make them an ideal partner for companies seeking growth, innovation, and long-term success.
In conclusion, the sale of Summit Industrial Construction to Comfort Systems USA marks an exciting chapter in the growth and success of both companies. With The Stephens Group's support and the strategic synergies between Summit and Comfort Systems, the future looks promising. This acquisition will enable them to enhance their capabilities, expand their reach, and continue delivering exceptional services to their clients. Together, they are poised to shape the industrial construction landscape and provide value to their stakeholders for years to come.
Other Posts
- From Meats to Millions: How a Prime Partnership is Sizzling Up the Protein Sector
- Sanders Morris Harris LLC Q3 2023 vs. Q4 2023: A Comparative Analysis of Fund Holdings
- Bridge Growth Partners Appoints Garrett Walls as Senior Advisor
- Analyzing Van Den Berg Management I, Inc's Q4 2022 Holdings: Key Changes in Equity Holdings and Shares Held
- Navigating the Shifts: Unveiling Q4 2023 to Q1 2024 Fund Allocation Trends
- Macquarie Capital Principal Finance: Advancing the Energy Industry with Camin Cargo Acquisition
- Analyzing Maryland Capital Management's Q2 2022 vs. Q3 2022 Holdings: Winners and Losers
- Day & Ennis, LLC Q1 2023 vs. Q2 2023 13F Holdings Comparison
- Carlisle Fluid Technologies Sold to Lone Star Funds: A New Era of Growth and Innovation
- Navigating the Corporate Ladder with Grace: The Stephens Group's Latest Ascensions