Interstate AC Service Partners with Anchor Heating & Air Co. to Enter the Atlanta, GA Market
NASHVILLE, Tenn., March 7, 2024 /PRNewswire/ -- Interstate AC Service ("Interstate"), a leading provider of HVAC, plumbing and building automation solutions, today announced a partnership with Anchor Heating & Air Co. ("Anchor" or the "Company"). The Anchor partnership is the first transaction since Interstate received an investment from an affiliate of Point 41 Capital Partners ("Point 41") in December 2023. Terms of the private transaction were not disclosed.
Founded in 1971, Anchor is a leading provider of commercial and residential HVAC services. Like Interstate, the Company specializes in light commercial applications and offers a full range of install, retrofit, replacement and maintenance services to industrial, education, faith, government, retail and other end markets. Anchor is headquartered in Douglasville, GA with approximately 65 employees, including approximately 40 skilled technicians, and has a longstanding reputation as the go-to provider in the Greater Atlanta market.
"We are excited to continue the Anchor legacy and build on our 53-year history in the Atlanta market. By joining forces with Interstate, we expect to accelerate our growth, create new opportunities for our loyal team members, and deliver even more value to our customers," said Barry Tysor, President, Anchor.
"We are thrilled to welcome Barry and the entire Anchor team to the Interstate family," said John Hurst, President, Interstate. "We have prioritized expansion into the Atlanta market for some time and could not have found a better, like-minded partner. We look forward to supporting Anchor with additional expertise, capabilities and resources as we expand our commercial offering in the market."
Interstate is actively seeking partnerships with leading HVAC, plumbing and building automation companies, with the goal of providing best-in-class support to local leadership teams. Founders, owners and managers are encouraged to contact Point 41 to learn more about partnering with Interstate.
Klehr Harrison Harvey Branzburg LLP served as legal advisor to Interstate and Point 41. SF&P Advisors and Greenberg Traurig LLP served as financial and legal advisors to Anchor.
About Interstate AC Service
Founded in 2004, Interstate is a leading provider of commercial HVAC, plumbing and building automation solutions to industrial, education, warehouse, government, healthcare, datacenter and other end markets. The Company specializes in light commercial applications and offers a full range of install, retrofit, replacement and maintenance services. Interstate is headquartered in Nashville, TN with approximately 200 employees, including approximately 150 skilled technicians, and has a longstanding reputation as a market leader.
About Point 41 Capital Partners
Point 41 Capital Partners is a middle-market private equity firm that partners with founders and management teams to drive transformational growth. Point 41 focuses on attractive, well-structured markets within the specialty industrials and services sectors, building market-leading companies by combining deep sector knowledge with tailored resources, systematic processes and operational excellence. Point 41 is based in Greenwich, CT and Los Angeles, CA. For more information, please visit www.point41capital.com.
Media Contacts
John Hurst, Interstate AC Service
[email protected]
+1 615-832-8500
Jeff Feigenbaum, Point 41 Capital Partners
[email protected]
+1 424-465-4988
SOURCE Interstate AC Service
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