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Marcone is pleased to announce that its industry leading heating, ventilation, and air conditioning (HVAC) division, Munch's Supply (the Company) has acquired BellSimons, including its 29 branches and three distribution centers in seven states servicing the New England area. This will expand the Company's geographic footprint to 103 locations serving 18 states and the province of Ontario, Canada.
Marcone is a leading technology enabled national distributor of quality home appliance, HVAC, and plumbing parts and equipment to technicians servicing the home. This acquisition demonstrates Marcone's ongoing dedication to the HVAC marketplace and reinforces its commitment to partnering with family- and customer service-focused businesses looking for either a long-term partnership or an exit strategy.
With help from Genstar Capital, Munch's Supply joined the Marcone family of brands in 2021. Munch's Supply has been operating in the Chicagoland area for more than 65 years and is consistently ranked as a top 10 HVAC distributor in the United States that continues to pursue organic and M&A growth opportunities.
"We are excited to expand upon our Company's presence in the Northeast," said Jim Souers, Marcone's CEO. "As we got to know the BellSimons team, led by Floran Boland, president, and Katie Zodda, controller and chief financial officer, it was clear they have built a great business and possess a culture that aligns with our laser-like focus on taking great care of our people so they can deliver exceptional service to customers. We are happy to welcome both the customers and employees of BellSimons into our family of brands."
"We have found a great partner in Marcone that shares our commitment to culture, values and philosophy of customer-centered service. Through the combination of two premier organizations, we are excited to accelerate our growth together," said BellSimons President Floran Boland. "I am also pleased to announce that Bob Casamento will lead the business moving forward along with our talented management team. We look forward to working with our new partners to grow the business."
"For more than seven decades, the entire BellSimons organization has demonstrated an ongoing commitment to its employees, customers and vendors resulting in enduring success. They have a very talented team and we look forward to working with them to grow the business," Souers added. "We will continue to build and invest in their strong customer and vendor relationships."
TM Capital served as financial advisor to BellSimons in connection with the transaction. BMO Capital Markets served as financial advisor to Marcone. Weil, Gotshal and Manges LLP served as legal advisor to Marcone.