Capitala Group Announces Recapitalization of United Air Temp
Capitala Group has successfully recapitalized United Air Temp, a prominent HVAC services provider, in collaboration with Summit Park and Pareto & Company.
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Rhea-AI Summary
Capitala Group has successfully recapitalized United Air Temp, a prominent HVAC services provider, in collaboration with Summit Park and Pareto & Company. Operating in 32 locations, primarily in Washington, D.C. and Northern Virginia, UAT focuses on HVAC maintenance and replacement for residential clients. Capitala's Managing Director hailed the deal as a step towards UAT's future growth, reflecting Capitala's commitment to partnering with skilled management teams for enhanced value creation. With over $2 billion invested across 170 companies since 1998, Capitala continues to strengthen its position in the lower middle market.
Positive
- Successful recapitalization of United Air Temp, enhancing growth prospects.
- Strong partnership with experienced firms like Summit Park and Pareto & Company.
- Established customer base with 32 operational locations in multiple states.
Negative
- None.
Details
News Market Reaction – CPTA
The recorded move for CPTA in the trading session of this news was -1.59%.
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CHARLOTTE, N.C., April 29, 2021 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, is pleased to announce the recapitalization of United Air Temp, Air Conditioning and Heating LLC (“UAT”), a leading provider of residential heating, ventilation, and air condition services, in partnership with Summit Park, Pareto & Company, and the UAT management team.
Headquartered in Lorton, Virginia, UAT provides HVAC maintenance and replacement services to residential homeowners. UAT has built a large, loyal customer base through its best-in-class service and responsiveness, as well as consistent, high-quality work from its skilled technicians. With 32 locations, its primary operations are in Washington, D.C. and the surrounding area in Northern Virginia and Maryland, with additional operations in North Carolina, Georgia, and Florida.
Managing Director at Capitala Group Adam Richeson states, “We are proud to be a part of this recapitalization while partnering with Summit Park, Pareto, and the UAT management team. This sets UAT up for the next phase of growth and we look forward to being a part of the Company’s future success.”
About Capitala Group
Capitala Group is an asset management firm that has been providing capital to lower middle market companies throughout North America for over twenty years. Since our inception in 1998, Capitala has invested over
Contacts:
Steve Arnall
CFO | Investor Relations
sarnall@capitalagroup.com
Katina Cole Jakubowski
Marketing | Communications
kjakubowski@capitalagroup.com
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