Published in Economic Development

First Call Plumbing acquired by PE-backed home services platform company

BY MIBIZ STAFF Sunday, June 28, 2020 08:44pm

JENISON — Private equity-backed Heartland Home Services has acquired First Call Plumbing Inc., its second acquisition in the West Michigan area in the last nine months. 

A family-owned Jenison-based provider of residential plumbing services with a 20-year market history, First Call Plumbing joins the Heartland Home Services platform, which has completed four strategic acquisitions since forming in November 2017. 

COURTESY PHOTO

Macomb-based Heartland Home Services is a portfolio company of North Branch Capital LLC, an Oak Brook, Ill.-based private equity firm. Heartland employs more than 350 people and services homeowners in Michigan, Indiana and Kentucky. 

Terms of the First Call Plumbing deal, which closed June 15, were not disclosed. 

Chicago-based Katten Muchin Rosenman LLP represented Heartland and North Branch Capital in the deal. 

Heartland serves as a platform for North Branch Capital’s investments in the residential HVAC, plumbing and electrical services companies in the Midwest. The platform also includes Grand Rapids-based Vredevoogd Heating & Cooling, a provider of residential heating, ventilation and air conditioning replacement and maintenance services. Heartland acquired Vredevoogd Heating & Cooling in September 2019. 

“The partnership with First Call is very strategic for the Heartland organization because it brings a plumbing capability and expertise to our service offering,” Mike Vredevoogd, CEO of Vredevoogd Heating & Cooling, said in a statement. “We can leverage the strong and trusted brand name of Vredevoogd and our sister companies to bring a plumbing capability to homeowners throughout the Midwest.”

At the time of his company’s deal, Vredevoogd cited the platform’s “significant momentum and growth” as well as its “long-term opportunity and cultural fit for our employees” in pursuing a partnership with North Branch Capital. 

Heartland’s other acquisitions include Lansing-based Hager Fox Heating and Air Conditioning LLC and Macomb-based Randazzo Heating & Cooling Inc. 

Most recently, North Branch Capital inked a deal in January to acquire Newburgh, Ind.-based A+ Derr, a residential HVAC replacement and maintenance provider serving southern Indiana and Louisville, Ky. With that deal, the company created the Heartland Home Services platform to house the home service brands, according to a statement. 

North Branch Capital, which formed in 2014, focuses its investment strategy on lower middle market companies and frequently partners and invests with management teams in industrial businesses focused on engineering or value-added services. 

Read 1923 times Last modified on Sunday, 28 June 2020 21:10
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >