The transaction further highlights PKF Investment Banking’s strong track record in advising business owners in the HVAC and mechanical contracting sectors
PKF Investment Banking, the investment banking affiliate and subsidiary of PKF O’Connor Davies, one of the nation’s largest accounting, tax and advisory practices, announced today the successful close of the sale of Armistead Mechanical, Inc. (“Armistead Mechanical” or the “Company”) to PremiStar, LLC, (“PremiStar”) a portfolio company of private equity firm Partners Group USA Corporation.
“This transaction illustrates the strategic value that can be created through a comprehensive and thoughtfully managed process,” said Alberto Sinesi, Partner at PKF Investment Banking. “Our team was honored to work with the shareholders and management of Armistead Mechanical to find the strongest strategic fit in PremiStar, whose commitment to preserving Armistead Mechanical’s legacy while supporting its future growth made them the ideal partner for this transaction.”
Founded in 1917, Armistead Mechanical provides mechanical construction and contracting services to industrial and commercial clients throughout the New Jersey/New York area. With offices in Waldwick, NJ and Newburgh, NY, the Company specializes in industrial and process piping, fabrication and installation, plumbing, HVAC design and installation, temperature controls and preventive maintenance services for projects of all sizes.
PremiStar, formerly Reedy Industries, operates 61 commercial HVAC, building automation and plumbing branches across 18 states. With over 3,000 employees, PremiStar supports owners and managers of critical facilities in the commercial, municipal, educational and industrial markets by helping them create healthier, more cost-effective and more energy-efficient environments.
“The PKF Investment Banking team provided invaluable guidance throughout our entire engagement and their collaboration proved indispensable to the ultimate success of this transaction,” said Kevin Armistead, Chief Executive Officer and President of Armistead Mechanical. “We are excited to partner with PremiStar and continue to foster Armistead Mechanical’s long-term growth. This partnership brings together complementary strengths, expands our market reach and positions us to deliver enhanced value to our customers and employee base.”