`Sun Capital Partners, Inc., a private investment firm based in Boca Raton, Fla., announced that an affiliate has completed the acquisition of Horizon Services, Inc., Wilmington, Del., a residential provider of plumbing, heating and air conditioning services for Delaware, Pennsylvania, New Jersey, Connecticut, and Maryland.
Terms of the private transaction were not disclosed.
Founded in 1987, Horizon is the region’s largest and most-referred home services company, specializing in heating, air conditioning, plumbing, drain cleaning, and sewer and water line replacement and repair. Horizon is also a leading seller and installer of energy-efficient heating and cooling systems in the mid-Atlantic.
“We’re eager to leverage our knowledge of the home and business services industry to help grow Horizon Services even further,” said Marc Leder, co-CEO of Sun Capital. “Horizon’s founders and management team have built a great company, and we look forward to working with them to maximize the business’s potential.”
Horizon currently operates six locations between Connecticut and Maryland, and manages more than 500 HVAC professionals. The company has expanded rapidly in recent years, entering new markets organically and through acquisitions, including the acquisition of Hartford, Connecticut-based HARP in May 2016.
Horizon has differentiated itself from other HVAC and plumbing businesses through a growth strategy of acquisitions and integrations that have allowed the company to build its client base across the region.
“My partner Mark Aitken and I believe our company is primed for growth with the right partner and resources,” said David Geiger, co-president of Horizon. “We spent 18 months going through an exhaustive process to find that partner in Sun Capital.”
Sun Capital has more than $9 billion of capital under management. Its portfolio includes Boston Market, The Limited and Shopko.