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