LightBay Capital Announces Partnership with Burton, A Leading Midwestern Provider of HVAC, Plumbing, and Electrical Services | News
OMAHA, Neb .– (BUSINESS WIRE) – Nov. Dec. 2021–
LightBay Capital (“LightBay”), a private equity firm focused on partnering with quality service-based companies, announced today that it has made a growth investment in Burton (the “Company”), a leading provider of HVAC – Residential plumbing, and electrical services in the Midwest and Central US regions. LightBay’s investment will enable Burton to accelerate its organic growth, add other market leaders through acquisitions, and invest in additional platform capacity.
Founded in 1989 and headquartered in Omaha, Nebraska, Burton provides replacement, repair, and maintenance services to a large and growing customer base. The company is a multi-brand platform that has completed six additional acquisitions since its inception and expanded operations in Nebraska, Colorado, Wisconsin and Kansas. Burton is working with regional HVAC, plumbing, and electrical service providers to help them grow their businesses through subsequent M&A and additional organic growth tools and capacity.
“We are excited to be working with the LightBay team,” said Mark Evans, President of Burton. “Burton has a long track record of providing our local communities with their home comfort needs. We strive to do the right thing from our people while maintaining our people-centric culture. At Burton, we are all very excited to have LightBay as our partner as we are focused on human capital and culture, and we look forward to our next phase of growth. “
Adam Stein, Co-Founder and Partner at LightBay Capital, said: “Mark and his team have built a successful business model in a highly attractive market segment. The company’s track record of growth, customer service and tech retention is testament to its people-first culture and focus on delivering value to homeowners. We share management’s vision for the future and we look forward to supporting their efforts to accelerate growth as long-term investors in the company. “
David Burcham, Partner at LightBay Capital, added, “Our investment in Burton is in line with our focus on supporting talented management teams and high-growth business models. The company has an excellent reputation as a partner to business owners and will continue to prioritize growth through acquisitions. We look forward to working with Mark and the rest of management to support Burton’s growth in the years to come. “
Cowen Inc. acted as financial advisor and Ballard and Spahr, LLP acted as legal counsel to Burton in connection with the transaction. William Blair & Company acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal counsel to LightBay Capital.
About LightBay Capital
LightBay Capital is a growth-oriented private equity firm based in Los Angeles that uses a flexible capital approach for medium-sized investments. Primarily focused in the healthcare, consumer and corporate services industries, LightBay invests in all capital structure and in all market environments to accelerate the growth of high quality companies. More information is available at www.lightbay.com.
To discuss investment opportunities, please contact David Leeney at [email protected].
Burton is a leading HVAC, plumbing, and electrical services company serving residential customers in growing markets in the Midwest and central United States. The company has a portfolio of seven long-standing local brands with presence in Nebraska, Wisconsin, Colorado and Kansas. Burton is headquartered in Omaha, NE and is headed by Mark Evans, who has been with the company since 1995. More information is available at www.justcallburton.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211214005556/en/
CONTACT: Stella Ho
Capital of LightBay
KEYWORD: NEBRASKA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CONSTRUCTION & REAL ESTATE SYSTEMS
SOURCE: LightBay Capital
Copyright Business Wire 2021.
PUB: 12/14/2021 9:00 AM / DISC: 12/14/2021 9:02 AM
Copyright Business Wire 2021.