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Jason Rabbino Named Chief Executive Officer of Sila Heating & Air Conditioning
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Sila Heating & Air Conditioning has appointed Jason Rabbino as the new Chief Executive Officer. With over 30 years of leadership experience, including his role at Towne Park, Rabbino aims to drive organic growth and further acquisitions for Sila. The company has established a strong presence in the HVAC industry, completing four acquisitions since being acquired by Morgan Stanley Capital Partners in May 2021. This leadership change is expected to enhance Sila's operational strategy and accelerate market growth.
Positive
Appointment of Jason Rabbino as CEO to lead growth and acquisition strategies.
Sila has completed four acquisitions since May 2021, enhancing its market position.
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PHILADELPHIA--(BUSINESS WIRE)--
Sila Heating & Air Conditioning’s Board of Directors announced today that Jason Rabbino will be joining the company as Chief Executive Officer effective immediately. During his 30-year career, Jason has held numerous leadership roles in the Industrial, Business and Consumer Services sectors, most recently as EVP and Chief Commercial Officer of Towne Park.
“I am thrilled to be joining the exceptional team at Sila, an organization that shares my strong focus on doing the right thing for customers, employees, and shareholders,” said Rabbino. “The Sila founders and leadership team have built a dynamic, high-performing company with a long history of successful growth and exceptional future potential. I am excited to partner with them to lead the next chapter of organic expansion and continue building our distinctive platform through further acquisitions.”
Sila has built a strong reputation in the industry for its distinctive level of service and quality across many geographic regions. Sila is also widely recognized as a leading consolidator in the fragmented HVAC industry, and has completed four acquisitions since being acquired by Morgan Stanley Capital Partners in May 2021.
“Jason’s strong track record, expertise with distributed businesses, and team-oriented leadership style will be an excellent fit with the Sila team,” said Adam Shaw, Managing Director of Morgan Stanley Capital Partners. “His background in Commercial and Operational leadership uniquely qualifies him to drive the strategy and execute on the next chapter of growth for Sila. Jason’s ability to identify, acquire, and integrate complementary businesses will help us further accelerate the pace and value creation that Sila has already achieved through M&A.”
Jack Rothacker, Founder of Sila, said “Jason joins us at an exciting time for the business and will be a great partner to the Sila team. We continue to drive market-leading organic growth, expand our service offerings to match customer needs, and enter new markets through strategic, value-added M&A. We are thrilled to have Jason help drive this growth and continue Sila’s legacy of providing value and service to all our customers.”
About Sila Heating & Air Conditioning
Founded in 1989, Sila offers a wide range of residential services for HVAC, plumbing, electrical, and indoor air quality. Sila serves the North-eastern and Mid-Atlantic United States, servicing customers from New Hampshire to Virginia. For more information, please visit the Company’s website https://sila.com/.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades. Morgan Stanley Capital Partners focuses on privately negotiated equity and equity-related investments primarily in North America and seeks to create value in portfolio companies primarily in a series of subsectors in the business services, consumer, healthcare, education and industrials markets with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For further information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
