TAMPA, Fla.--(BUSINESS WIRE)--Crete Mechanical Group (“Crete” or “CMG”), a leading provider of HVAC, electrical, plumbing and building automation services to commercial, industrial, multi-family, government, healthcare, education and other end markets, today announced a partnership with AC Corporation (“AC Corp.”), a Greensboro, NC-based provider of HVAC, electrical, plumbing, metal fabrication, rendering systems, service and system controls solutions across a range of end markets.
“AC Corp. and Crete share the same mission of building strong, lasting relationships with our customers through reliable service of the highest quality,” said Mike Garibay, President of AC Corp. “We are proud of the legacy we’ve built at AC Corp. over the Company’s nearly 90-year history and are excited about the bright future that a partnership with Crete offers to our employees as well as our customers. We believe there is an opportunity to accelerate our growth and increase the scope of services provided to our customers by leveraging Crete’s corporate support and collaborating with other Crete partners in the region.”
“AC Corp. has been serving the Southeast, Mid-Atlantic, and other states across the US since 1935 and has built a strong reputation in the industry synonymous with quality and best-in-class execution,” said Jake Sloane, Co-Founder and Co-CEO of Crete. “We were attracted to AC Corp.’s mix of reoccurring and non-discretionary services and jobs and are fortunate to have found a like-minded partner in AC Corp. with a culture of superior service. We are committed to accelerating our growth together in the North Carolina and adjacent markets, leveraging Crete’s pre-existing footprint of four other partners across the region.”
Crete Mechanical Group is a portfolio company of Ridgemont Equity Partners, a middle market private equity firm based in Charlotte, NC. Crete is actively seeking new partners across the commercial facility and mechanical services landscape that are established leaders in their core markets and that are interested in a recapitalization. AC Corp. is the 11th new partner company to join the Crete platform since the start of 2022.
About Crete Mechanical Group
Crete Mechanical Group is a leading provider of commercial HVAC, electrical, plumbing and building automation services to industrial, multi-family, government, healthcare, education and other end markets. CMG provides a range of corporate, financial and accounting, human resources (including technician recruiting and retention), procurement, sales, best practice sharing and general operational support resources to its national network of regional partners, while still maintaining a degree of local autonomy that promotes cultural continuity and customer responsiveness. Crete is actively seeking new relationships with owner-operators to grow the combined platform across North America. www.cretemechanical.com
About Ridgemont Equity Partners
Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $6 billion. The firm focuses on equity investments up to $500 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. www.ridgemontep.com
