Corporate Finance Associates Advises in Abacus Plumbing Recap
Corporate Finance Associates (CFA), an international middle-market investment banking services firm providing merger and acquisition, business valuation, capital resources, and financial advisory services, announced it advised in the management recapitalization of Abacus Plumbing by Berkey’s Plumbing and Air Conditioning of Southlake, TX. Berkey’s investors, Alpine Investors and Skylight Capital provided recapitalization financing.
Abacus Plumbing is a provider of residential plumbing and sewer services in Houston. Founded in 2003, Abacus established a solid reputation for superior customer service and expert workmanship. Berkey’s is a provider of plumbing and HVAC services to homeowners in the Dallas/Ft. Worth metropolitan area.
Both Berkey’s and Abacus have experienced rapid growth over each of the last five years and the partnership will lead to additional expansion and growth opportunities for both businesses.
Collin Hathaway of Skylight stated, “After meeting with and evaluating hundreds of plumbing and HVAC service businesses, it is apparent that Abacus and Berkey’s are far and away two of the best managed and best positioned regionally-focused home service businesses in the country. We are very excited to be working with the Abacus and Berkey’s teams.”
The founders of both companies will continue to run their respective businesses. Abacus founder and CEO, Alan O’Neill, added, “Collin, Alpine, and Berkey’s founder, Bill Stevens, represent everything I’d want in partners: they are honest, have a long-term focus, and bring forth years of experience in growing small businesses, which will be critical to Abacus as we enter the next phase of growth. I could not be happier to have them as partners.”
“This is truly a case where the company resulting from this merger is greater than the sum of its parts,” said Eduardo Berdegu