“Their insight and support allowed our family of companies to expand with strength, adding ten brands and over 800 professionals to our team.” “Sun Capital has been an outstanding partner in Horizon’s growth,” said Mr. Sun Capital acquired Horizon in March 2017 and during its ownership term, the company completed 10 add-on acquisitions that expanded its service territories into northern New Jersey, northern Virginia, Atlanta, and Florida.
HORIZON HEATING AND COOLING FULL
“We look forward to providing additional resources to help the company realize its full potential across organic and acquisition-based strategic initiatives.”
We are excited to partner with Dave, Charlie, and the rest of their team,” said Mathew Lori, managing director at New Mountain Capital. “We have long admired Dave’s leadership, entrepreneurship and success in growing the business over the years. Geiger and other members of the company’s management team will remain invested in Horizon in partnership with New Mountain. “This is an exciting time in Horizon’s history, and we are confident that New Mountain’s proven track record of business building and supporting management teams with close strategic engagement is a real differentiator.” Mr. “New Mountain is the ideal partner for Horizon as we enter our next stage of growth,” said Mr. Geiger and President Charlie Haines and is headquartered near Wilmington in Newark, Delaware. Horizon was founded in 1987 by CEO Dave Geiger and today has more than 900 service vehicles and 1,400 employees. Horizon currently serves tens of thousands of homeowners in seven metropolitan areas throughout the eastern United States including Philadelphia, New York, Atlanta, Baltimore, Washington DC, Hartford, and Jacksonville.
The company also sells and installs heating and cooling systems from a range of manufacturers including Lennox, Trane, Rheem, York, American Standard, and Carrier. Horizon provides a full range of residential services including heating and air conditioning repair, maintenance and tune-ups plumbing and drain cleaning services and trenchless sewer and water line inspection, repair and replacement. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt and Shenzhen.Sun Capital Partners has sold Horizon Group Holdings, a residential provider of plumbing, heating and air conditioning services, to New Mountain Capital. Since 1995, Sun Capital has invested in more than 340 companies worldwide across a broad range of industries and transaction structures. Sun Capital is a trusted partner that is recognized for its investment and operational experience, including particular expertise in the consumer products and services, food and beverage, industrial, packaging, chemicals, building products, automotive, restaurant and retail sectors. Sun Capital Partners is a global private equity firm focused on identifying companies’ untapped potential and leveraging its deep operational and financial resources to transform results.
Horizon Services was advised by STS Capital Partners.
SF&P Advisors served as financial advisor to Sun Capital, and Morgan, Lewis & Bockius LLP provided legal counsel. Sun Capital has strong experience in related home and business services sectors through current and recent affiliated portfolio companies including Spectralink, a leading global provider of on-site enterprise mobile communication solutions, and Bundy Refrigeration, a manufacturer and supplier of fluid carrying cooling system components for the domestic refrigeration industry.
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