SF&P Advisors, one of the country's leading business sales and valuation firms to the heating, air conditioning and plumbing industry, announced today that it has facilitated the successful acquisition of New Brunswick, New Jersey's Gold Medal Service by Wilmington, Delaware-based Horizon Services.
The transaction marks the most recent purchase of a heating and air conditioning firm by Horizon, which was itself acquired in March of this year by an affiliate of Sun Capital Partners, Inc., a private investment firm with a portfolio of market-leading companies with potential for broad expansion. Both before and following the purchase by Sun Capital Partners, Inc., Horizon has been rapidly growing its network of local providers. With the completion of this transaction, Horizon now has a presence in six states and more than 900 employees. Terms of the deal have not been disclosed.
"We've been privileged to support Horizon's growth strategy," said Fred Silberstein, founder and president of SF&P Advisors. "Horizon is quickly making a name for itself as an industry powerhouse, bringing a contemporary, customer-focused approach to comfort services to communities across the East Coast. We're excited to help them find like-minded operators like Gold Medal to join them in their effort to bring customers the highest degree of professionalism in the business."
SF&P Advisors was responsible for stewarding the deal from the beginning. The firm identified a number of potential acquirers for Gold Medal and helped structure a framework that met their distinct expectations. In particular, SF&P worked to ensure that the interests of their principals, their employees and their customers would be properly served through and beyond the completion of the transaction.
"When Fred and the team at SF&P brought Gold Medal to the table, we were excited to see that this was an organization whose vision, ethics and business philosophy really meshed with ours," said Dave Geiger, co-president of Horizon Services. "It's not easy to find an operation that's as committed to a modern, customer-first approach like Gold Medal is. "We are privileged to do a transaction with Gold Medal and look forward to building upon the best practices of each organization as we strive for continuous improvement which ultimately enhances our customer service."
Rob Zadotti, co-owner of Gold Medal, concurred. "SF&P approached us with the idea that it might be a good time for us to consider an acquisition, and we decided to see what our options were. Horizon is a competitor we knew and respected – they had a culture that matched our own, and it was a natural fit. With Horizon, we could be certain that we would be doing right by all of our employees and their families, and our customers would receive the same great service they've counted on from us since we started back in 1994."
Mike Agugliaro, Zadotti's partner at Gold Medal, highlighted the fact that SF&P presented them with a range of potential suitors, giving them greater flexibility in finding a match that met their particular requirements. "When Fred approached me a few months ago about a potential transaction, he showed us a number of different options from both strategic and private equity buyers. That gave us a lot of confidence, knowing that we were in control throughout the process, and we could really determine our own destiny."
More information about SF&P Advisors is available online at www.SFPadvisors.com. Horizon Services can be found online at www.HorizonServicesInc.com, and Gold Medal Service can be found at www.GoldMedalService.com.
About SF&P Advisors
SF&P Advisors is a full-service business valuation, accounting, research, financial analysis and success-strategy firm specializing in advisory, mergers and acquisitions for residential and commercial HVAC and plumbing contractor businesses. More information is available online atwww.SFPadvisors.com.