Capitala Group Announces Recapitalization of United Air Temp

Rhea-AI Summary

Capitala Group has successfully recapitalized United Air Temp, a prominent HVAC services provider, in collaboration with Summit Park and Pareto & Company. Operating in 32 locations, primarily in Washington, D.C. and Northern Virginia, UAT focuses on HVAC maintenance and replacement for residential clients. Capitala's Managing Director hailed the deal as a step towards UAT's future growth, reflecting Capitala's commitment to partnering with skilled management teams for enhanced value creation. With over $2 billion invested across 170 companies since 1998, Capitala continues to strengthen its position in the lower middle market.

Positive

• Successful recapitalization of United Air Temp, enhancing growth prospects.
• Strong partnership with experienced firms like Summit Park and Pareto & Company.
• Established customer base with 32 operational locations in multiple states.

Negative

• None.

CHARLOTTE, N.C., April 29, 2021 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala”), a leading provider of capital to lower middle market companies, is pleased to announce the recapitalization of United Air Temp, Air Conditioning and Heating LLC (“UAT”), a leading provider of residential heating, ventilation, and air condition services, in partnership with Summit Park, Pareto & Company, and the UAT management team.

Headquartered in Lorton, Virginia, UAT provides HVAC maintenance and replacement services to residential homeowners. UAT has built a large, loyal customer base through its best-in-class service and responsiveness, as well as consistent, high-quality work from its skilled technicians. With 32 locations, its primary operations are in Washington, D.C. and the surrounding area in Northern Virginia and Maryland, with additional operations in North Carolina, Georgia, and Florida.

Managing Director at Capitala Group Adam Richeson states, “We are proud to be a part of this recapitalization while partnering with Summit Park, Pareto, and the UAT management team. This sets UAT up for the next phase of growth and we look forward to being a part of the Company’s future success.”

About Capitala Group
Capitala Group is an asset management firm that has been providing capital to lower middle market companies throughout North America for over twenty years. Since our inception in 1998, Capitala has invested over $2.0 billion in approximately 170 companies and seeks to partner with strong management teams to create value and aims to generate superior risk-adjusted returns for our individual and institutional investors. For more information, definitions and details visit our website at www.CapitalaGroup.com.

Contacts:

Steve Arnall
CFO | Investor Relations
sarnall@capitalagroup.com

Katina Cole Jakubowski
Marketing | Communications
kjakubowski@capitalagroup.com

FAQ

What is the significance of Capitala Group's recapitalization of UAT?

The recapitalization positions UAT for future growth, enhancing its operational capacity and service delivery.

How many locations does United Air Temp operate?

United Air Temp operates 32 locations primarily in Washington, D.C. and Northern Virginia, with additional sites in North Carolina, Georgia, and Florida.

Who are the partners involved in the recapitalization of United Air Temp?

The recapitalization involves Capitala Group, Summit Park, Pareto & Company, and the UAT management team.

What does United Air Temp specialize in?

United Air Temp specializes in residential heating, ventilation, and air conditioning (HVAC) maintenance and replacement services.

What is Capitala Group's investment history?

Since its inception in 1998, Capitala Group has invested over $2 billion in approximately 170 companies within the lower middle market.