New State Backs Harrell-Fish Inc. to Accelerate Mechanical Contracting Expansion

NEW ROCHELLE, NY — New State Capital Companions has made a majority funding in Harrell-Fish Inc. (HFI), a Bloomington, Indiana-based mechanical contractor specializing in HVAC and plumbing set up, retrofit, and upkeep providers. The transaction was accomplished in partnership with the corporate’s current homeowners, who retained important possession and can proceed of their present roles. Phrases of the deal weren’t disclosed.

Established Mechanical Contractor With Robust Retrofit and Service Capabilities

Based in 1985, HFI serves industrial and institutional prospects throughout healthcare, schooling and different important constructing markets. The contractor delivers HVAC and plumbing options with a powerful concentrate on retrofit, renovation and ongoing service work—segments that proceed to develop as constructing homeowners put money into system upgrades and operational effectivity.

HFI’s in-house labor, long-standing buyer relationships and market presence place the corporate for continued growth all through the Midwest.

Backers See Robust Platform for Regional Development

“HFI is a longtime regional chief serving essential finish markets, with a powerful basis for progress,” stated Shaun Vasavada, Senior Principal at New State Capital Companions. “Now we have executed the same playbook in prior facility providers investments and look ahead to collaborating with the administration crew to drive continued success. We are also excited in regards to the M&A alternatives on this sector and look ahead to accelerating progress each organically and through strategic acquisitions.”

Management Emphasizes Tradition and Buyer Service

Steve Dawson, Chief Government Officer of HFI, stated, “Partnering with New State will allow us to speed up our progress whereas sustaining the tradition and high quality our purchasers count on. The agency’s collaborative strategy and deep working assets will assist us improve our methods, increase our service capabilities, and pursue new avenues for growth.”

First Platform Funding for New State’s Fund IV

The transaction marks the primary platform funding in New State’s Fund IV. New State partnered with Amethyst Capital Group, LLC, an unbiased sponsor skilled in enterprise and infrastructure service corporations. The deal represents the sixth time New State has teamed with an unbiased sponsor.

“We’re excited to assist New State on this chance. HFI represents the perfect progress platform within the mechanical contracting house and is effectively positioned to capitalize on sturdy market tailwinds,” stated Ross Lipson, Managing Associate at Amethyst.

Advisors on the transaction included Harris Williams LLC and Morgan, Lewis & Bockius LLP for New State, and GLC Advisors & Co. and Holland & Hart LLP for HFI and its homeowners.

To be taught extra about Harrell-Fish Inc., go to harrell-fish.com.

To be taught extra about Amethyst Capital Companions go to amethyst-cap.com.