Capstone Partners advised South Coast Facility Services, Inc. on its sale to Service Logic, a portfolio company of Leonard Green & Partners, L.P.
South Coast Facility Services (SCFS), operating out of Anaheim California, is a full-service contractor that designs and installs HVAC equipment, delivers energy services, and provides process piping and direct digital control systems. SCFS delivers turnkey solutions to a longstanding customer base of property managers, businesses, building owners, and developers across the western U.S. Trusted by names like Johnson & Johnson, 3M, and Tesla, South Coast’s focus on innovation, collaboration, and continual improvement has helped them record double-digit revenue growth in the past several years and primed them to pursue further growth with the Service Logic team.
Over the past 15+ years, we have enjoyed significant success and are thrilled to now be part of Service Logic. Capstone helped us successfully navigate a very complex undertaking and we are very appreciative of their support. They helped drive a successful outcome for both parties.
“With the availability of high-quality independent players like SCFS in the HVAC Services market, sector consolidation remains steady. We think Service Logic could not have picked a better partner for its expansion into Southern California and we look forward to witnessing its growth in this market” notes Ted Polk, Managing Director at Capstone Partners.
Service Logic, Headquartered in Charlotte, North Carolina, is one of the largest independent providers of aftermarket maintenance, repair, and replacement services for commercial HVAC equipment and operates on a national platform. Their fully integrated services optimize energy efficiency, comfort, health, and safety for more than 25,000 clients nationwide and over 500 million square feet of commercial, industrial, and institutional real estate. The acquisition of South Coast represents Service Logic’s first foray into southern California and the business is expected to be their platform of operation throughout the greater Los Angeles area.
Leonard Green & Partners, L.P. is a leading private equity investment firm founded in 1989 and based in Los Angeles. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since its inception, LGP has invested in over 100 companies via traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. LGP primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials.