BOCA RATON, Fla., July 27, 2016 /PRNewswire/ -- Pulte Capital Partners ("Pulte Capital") announced today that it has sold portfolio company Southern Air & Heat to MSouth Equity Partners, a private equity fund with $1.3 billion under management across three funds based in Atlanta.
Southern Air & Heat, based in the Southeastern U.S., provides heating & air conditioning installation to the nation's largest homebuilders and is also a leading servicer and installer for over 70,000 homeowners across its southeastern target markets.
"Our team built Southern Air & Heat from just an idea to one of the largest heating and air conditioning platforms in the United States. Southern Air was a highly successful investment for us, and we are thrilled to have selected MSouth Equity Partners as the company's partner going forward," said Bill Pulte, CEO of Pulte Capital Partners and grandson of PulteGroup (NYSE: PHM) founder William Pulte.
Charles Stubbs, an MSouth Partner, said, "We are very excited about our investment in Southern Air & Heat, and appreciate that the Pulte organization has built such a strong and scalable platform. The Southern Air & Heat platform is an early consolidator in the coastal HVAC market, and we look forward to partnering with the management team in the Company's next phase of growth."
Pulte furthered, "We are going to continue our investment activity in the homebuilding and homebuilding supply industries, and we look forward to partnering with management teams in building more successful investments like Southern Air & Heat."
About Pulte Capital:
Pulte Capital Partners LLC is a leading private equity firm specializing in homebuilding and building products investments in middle market and lower-priority divisions of public companies. Pulte Capital seeks to invest in homebuilding and building products businesses with a focus on homebuilders, specialty building products companies; countertops, tile, and cabinets; HVAC; roofing and siding; green, energy efficient, and sustainable material; specialty drywall; flooring distribution; windows and doors; and specialty truss manufacturing.
About MSouth Equity Partners:
MSouth Equity Partners is a private equity investment firm that provides equity capital and expertise to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued between $25 and $150 million. Based in Atlanta, Georgia, MSouth invests primarily in the South with a consistent focus on management buyouts of companies in sectors where the firm has significant investment, management and transactional experience. MSouth invests with the objective of increasing operating cash flow through growth initiatives and active ownership. A key element of MSouth's investment strategy is partnering with proven management teams to create value. Founded in 2007, MSouth manages $1.3 billion with three active funds. MSouth is the successor to Cravey, Green & Wahlen, which was formed in 1984.
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SOURCE Pulte Capital Partners LLC