Sunny River Management, a family-backed private investment firm, has partnered with Palmetto Air & Water Balance, a provider of HVAC testing, adjusting and balancing services to commercial clients.
Palmetto operates ten offices serving a customer base of building owners, property managers and contractors including healthcare facilities, educations systems, government institutions and commercial buildings.
The partnership will maintain Palmetto’s customer services while enhancing the firm’s resources in order to expand its accounts. SRM intends to accelerate Palmetto growth through further acquisitions of industry participants.
“The growth opportunities at Palmetto are significant and compelling,” said Jack Partain, vice president at SRM. “We are excited to pair strong industry tailwinds with strategic M&A and de novo expansion to create the best test, adjust, and balance platform in the country.”
Business Acquisition & Merger Associates acted as financial advisor to Palmetto and Merline & Meacham served as legal counsel. SRM was represented by Nelson Mullins Riley & Scarborough. Financing was provided by Deerpath Capital Management.