SPX Technologies plans to “significantly expand” its electric heating business by purchasing ASPEQ Heating Group for $418 million.

The Charlotte-based company has entered into an agreement to purchase ASPEQ with Industrial Growth Partners, a San Francisco-based private equity firm, SPX said in a press release Monday.

This is SPX Technologies' 13th and largest acquisition since 2018, said Gene Lowe, CEO of SPX Technologies, in a statement.

ASPEQ, based in St. Louis, offers industrial and commercial brands such as INDEECO, Heatrex and AccuTherm. ASPEQ's annual revenue is about $120 million, according to SPX.

Subject to regulatory approval, the transaction is expected to close in the second quarter, in early July.

About SPX Technologies

SPX Technologies, a provider of products and technologies in the areas of heating, ventilation and air conditioning, detection and measurement technology, employs more than 3,300 people in 15 countries.

Last month, SPX Technologies acquired Canada-based TAMCO for $125 million to expand its HVAC operations. TAMCO makes motorized and non-motorized dampers that control airflow in thermal applications such as data centers and healthcare facilities, according to SPX.

Last August, SPX Technologies was created from the corporate restructuring of the SPX Corp. group of companies.

In 2020, SPX moved its headquarters to 6325 Ardrey Kell Road in South Charlotte.

Charlotte-based manufacturer to be sold for nearly $4 billion. What this means for local operations

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“The Hyatt Place San Francisco Downtown is an excellent addition to our portfolio. The brand, market, and specific location fit our strategy to acquire best-in-class hotels in prime markets,” stated Ryan Phelps, DCC’s Chief Investment Officer. “We are thrilled to make this acquisition and look forward to our 2022 pipeline of opportunities,” concluded Phelps.

The twelve-story hotel features 230 guest rooms, 4,300 square feet of retail space, a lobby bar, and a 24/7 market. The Hyatt Place is between the lively South of Market (SoMa) and Mission Bay neighborhoods known for world-class dining, museums, and business. Nearly adjacent to Oracle Park, it is also within walking distance of Chase arena, home to the NBA’s Golden State Warriors, and the Moscone Convention Center. In addition, public transportation, including light rail and Caltrain, is within a city block, providing access to all that san francisco offers. The hotel opened in Jan 2019.

This purchase early in 2022 continues the pattern of dynamic growth exhibited by the acquisition of seven properties across the US in 2021.

About Dynamic City Capital
Dynamic City Capital (DCC) is a privately held real estate investment and asset management firm with three decades of experience in hospitality. During its 30+ year history, DCC has placed hundreds of millions of dollars of capital on behalf of its investment partners. After opening the first Marriott® franchised hotel in the state of Utah in 1991, DCC has been involved in the development, acquisition, and management of hotel assets throughout the United Statesrepresenting the premium-branded hotel families of Hilton®Hyatt, IHG®and Marriott®. For additional information, please visit www.dynamiccity.com.

SOURCE Dynamic City Capital

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Home services company based in Sacramento is expanding into the San Francisco Bay Area

SACRAMENTO, Calif., September 10, 2021 – (BUSINESS WIRE) – Bonney Plumbing, Electrical, Heating and Air (Bonney), a home services company headquartered in Rancho Cordova, Calif., Announced the acquisition of award-winning HVAC company, Big Air Heating & Air Conditioning (Big Air), based in Concord, CA. As part of the partnership, Bonney will support Big Air and his team in continuing to operate locally under their brand.

This press release contains multimedia. View the full press release here: https://www.businesswire.com/news/home/20210910005559/en/

Bonney’s headquarters in Rancho Cordova (Photo: Business Wire)

The partnership with Big Air expands Bonney’s territory, which currently includes eight counties in and around the Greater Sacramento region, to include County Contra Costa in the Bay Area.

“The East Bay of San Francisco was a prime area for Bonney to expand,” said Jeremy Macdonald, Bonney’s chief executive officer. “When we met the Big Air team, we knew immediately that the brand they had built and the shared values ​​of focus on people and excellent customer service were a great fit.”

Founded in 1978 by Mark and Candace Bonney, Bonney is a household name in the Greater Sacramento area. Over the past 40 years, Bonney has grown from a family business to an operation of over 120 service vehicles and more than 200 employees.

“As Big Air moves into its next growth chapter, we are very excited to partner with Bonney,” said Mike Santa Maria, Big Air founder. do their values ​​and culture align with what we have built at Big Air over the past 20 years. “

Bonney plans to invest in multiple founder-owned companies over the next two years to build a regional leader in home services. M&A Business Advisors, Silicon Valley, acted as sell-side advisor to Big Air.

The story goes on

About Bonney

Bonney is a leading plumbing, electrical, heating, and air conditioning company based in Sacramento serving customers in Solano, Yolo, El Dorado, Sacramento, Placer, and San Joaquin Counties. Founded in 1978, Bonney focuses on offering its customers real added value through a unique combination of skilled workmanship, service and responsive support.

For more information and to keep up to date, visit Bonney.com and connect on Instagram, LinkedIn, Facebook, Twitter and YouTube.

About Big Air Heating & Air Conditioning

Founded in 2001 by Mike and Jennifer Santa Maria, Big Air offers a full range of HVAC repair and installation services to customers across the East Bay. Big Air is an integral part of the Contra Costa community and has been named “Best in the Bay” for HVAC services by the East Bay Times each year since 2016.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210910005559/de/

contacts

Business Inquiries:
Matt Picciano
mpicciano@bonney.com
800.444.0551

Media inquiries:
Lilly Cortes – Wyatt
lilly@lillywyattpr.com
925.408.2737

The post Bonney Plumbing, Electrical, Heating and Air Pronounces the Acquisition of Huge Air Heating & Air Conditioning appeared first on Los Gatos News And Events.

SACRAMENTO, California – (BUSINESS WIRE) – Bonney Plumbing, Electrical, Heating and Air (Bonney), a home services company headquartered in Rancho Cordova, California, announced the acquisition of award-winning HVAC company Big Air Heating & Air Conditioning (Big Air), based in. known Concord, CA. As part of the partnership, Bonney will support Big Air and his team in continuing to operate locally under their brand.

The partnership with Big Air expands Bonney’s territory, which currently includes eight counties in and around the Greater Sacramento region, to include County Contra Costa in the Bay Area.

“The East Bay of San Francisco was a prime area for Bonney to expand,” said Jeremy Macdonald, Bonney’s chief executive officer. “When we met the Big Air team, we knew straight away that the brand they had built, as well as the shared values ​​of focus on people and excellent customer service, were a perfect fit.”

Founded in 1978 by Mark and Candace Bonney, Bonney is a household name in the Greater Sacramento area. In the past 40 years, Bonney has grown from a family business to an operation of over 120 service vehicles and more than 200 employees.

“As Big Air moves into the next chapter of growth, we’re excited to partner with Bonney,” said Mike Santa Maria, Big Air founder their values ​​and culture are in line with what we have built at Big Air over the past 20 years. ”

Bonney plans to invest in multiple founder-owned companies over the next two years to build a regional leader in home services. M&A Business Advisors, Silicon Valley, acted as sell-side advisor to Big Air.

About Bonney

Bonney is a leading plumbing, electrical, heating, and air conditioning company based in Sacramento serving customers in Solano, Yolo, El Dorado, Sacramento, Placer, and San Joaquin Counties. Founded in 1978, Bonney focuses on offering its customers real added value through a unique combination of skilled workmanship, service and responsive support.

For more information and to keep up to date, visit Bonney.com and connect on Instagram, LinkedIn, Facebook, Twitter and YouTube.

About Big Air Heating & Air Conditioning

Founded in 2001 by Mike and Jennifer Santa Maria, Big Air offers a full range of HVAC repair and installation services to customers across the East Bay. Big Air is an integral part of the Contra Costa community and has been named “Best in the Bay” for HVAC services by the East Bay Times each year since 2016.

The post Bonney Plumbing, Electrical, Heating and Air Broadcasts the Acquisition of Massive Air Heating & Air Conditioning appeared first on Los Gatos News And Events.

SACRAMENTO, Calif .– (BUSINESS WIRE) – Nov. September 2021–

Bonney Plumbing, Electrical, Heating and Air (Bonney), a household services company headquartered in Rancho Cordova, California, announced the acquisition of the award-winning HVAC company Big Air Heating & Air Conditioning (Big Air), headquartered in Concord, California . As part of the partnership, Bonney will support Big Air and his team in continuing to operate locally under their brand.

This press release contains multimedia. View the full press release here: https://www.businesswire.com/news/home/20210910005559/en/

Bonney’s headquarters in Rancho Cordova (Photo: Business Wire)

The partnership with Big Air expands Bonney’s territory, which currently includes eight counties in and around the Greater Sacramento region, to include County Contra Costa in the Bay Area.

“The East Bay of San Francisco was a prime area for Bonney to expand,” said Jeremy Macdonald, Bonney’s chief executive officer. “When we met the Big Air team, we knew straight away that the brand they had built and the shared values ​​of focusing on people and providing excellent customer service were a perfect fit.”

Founded in 1978 by Mark and Candace Bonney, Bonney is a household name in the Greater Sacramento area. In the past 40 years, Bonney has grown from a family business to an operation of over 120 service vehicles and more than 200 employees.

“As Big Air moves into the next chapter of growth, we’re excited to partner with Bonney,” said Mike Santa Maria, Big Air founder their values ​​and culture are in line with what we have built at Big Air over the past 20 years. “

Bonney plans to invest in multiple founder-owned companies over the next two years to build a regional leader in home services. M&A Business Advisors, Silicon Valley, acted as sell-side advisor to Big Air.

About Bonney

Bonney is a leading plumbing, electrical, heating, and air conditioning company based in Sacramento serving customers in Solano, Yolo, El Dorado, Sacramento, Placer, and San Joaquin Counties. Founded in 1978, Bonney focuses on offering its customers real added value through a unique combination of skilled workmanship, service and responsive support.

For more information and to keep up to date, visit Bonney.com and connect on Instagram, LinkedIn, Facebook, Twitter and YouTube.

About Big Air Heating & Air Conditioning

Founded in 2001 by Mike and Jennifer Santa Maria, Big Air offers a full range of HVAC repair and installation services to customers across the East Bay. Big Air is an integral part of the Contra Costa community and has been named “Best in the Bay” for HVAC services by the East Bay Times each year since 2016.

View source version on businesswire.com: https: //www.businesswire.com/news/home/20210910005559/en/

CONTACT: Business Inquiries:

Matt Picciano

mpicciano@bonney.com

800.444.0551 Media inquiries:

Lilly Cortes – Wyatt

lilly@lillywyattpr.com

925.408.2737

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

SECTOR KEYWORD: RESIDENTIAL CONSTRUCTION & REAL ESTATE COMMERCIAL CONSTRUCTION & REAL ESTATE & REAL ESTATE SYSTEMS

SOURCE: Bonney plumbing, electrical, heating and air

Copyright Business Wire 2021.

PUB: 09/10/2021 5:34 p.m. / DISC: 09/10/2021 5:34 p.m.

http://www.businesswire.com/news/home/20210910005559/en

Copyright Business Wire 2021.

The post Bonney Plumbing, Electrical, Heating and Air Pronounces the Acquisition of Huge Air Heating & Air Conditioning | Your Cash appeared first on Los Gatos News And Events.

SACRAMENTO, Calif .– (BUSINESS WIRE) – Nov. September 2021–

Bonney Plumbing, Electrical, Heating and Air (Bonney), a household services company headquartered in Rancho Cordova, California, announced the acquisition of the award-winning HVAC company Big Air Heating & Air Conditioning (Big Air), headquartered in Concord, California . As part of the partnership, Bonney will support Big Air and his team in continuing to operate locally under their brand.

This press release contains multimedia. View the full press release here: https://www.businesswire.com/news/home/20210910005559/en/

Bonney’s headquarters in Rancho Cordova (Photo: Business Wire)

The partnership with Big Air expands Bonney’s territory, which currently includes eight counties in and around the Greater Sacramento region, to include County Contra Costa in the Bay Area.

“The East Bay of San Francisco was a prime area for Bonney to expand,” said Jeremy Macdonald, Bonney’s chief executive officer. “When we met the Big Air team, we knew straight away that the brand they had built and the shared values ​​of focusing on people and providing excellent customer service were a perfect fit.”

Founded in 1978 by Mark and Candace Bonney, Bonney is a household name in the Greater Sacramento area. In the past 40 years, Bonney has grown from a family business to an operation of over 120 service vehicles and more than 200 employees.

“As Big Air moves into the next chapter of growth, we’re excited to partner with Bonney,” said Mike Santa Maria, Big Air founder their values ​​and culture are in line with what we have built at Big Air over the past 20 years. “

Bonney plans to invest in multiple founder-owned companies over the next two years to build a regional leader in home services. M&A Business Advisors, Silicon Valley, acted as sell-side advisor to Big Air.

About Bonney

Bonney is a leading plumbing, electrical, heating, and air conditioning company based in Sacramento serving customers in Solano, Yolo, El Dorado, Sacramento, Placer, and San Joaquin Counties. Founded in 1978, Bonney focuses on offering its customers real added value through a unique combination of skilled workmanship, service and responsive support.

For more information and to keep up to date, visit Bonney.com and connect on Instagram, LinkedIn, Facebook, Twitter and YouTube.

About Big Air Heating & Air Conditioning

Founded in 2001 by Mike and Jennifer Santa Maria, Big Air offers a full range of HVAC repair and installation services to customers across the East Bay. Big Air is an integral part of the Contra Costa community and has been named “Best in the Bay” for HVAC services by the East Bay Times each year since 2016.

View source version on businesswire.com: https: //www.businesswire.com/news/home/20210910005559/en/

CONTACT: Business Inquiries:

Matt Picciano

mpicciano@bonney.com

800.444.0551 Media inquiries:

Lilly Cortes – Wyatt

lilly@lillywyattpr.com

925.408.2737

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

SECTOR KEYWORD: RESIDENTIAL CONSTRUCTION & REAL ESTATE COMMERCIAL CONSTRUCTION & REAL ESTATE & REAL ESTATE SYSTEMS

SOURCE: Bonney plumbing, electrical, heating and air

Copyright Business Wire 2021.

PUB: 09/10/2021 5:34 p.m. / DISC: 09/10/2021 5:34 p.m.

http://www.businesswire.com/news/home/20210910005559/en

Copyright Business Wire 2021.

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PITTSBURGH, May 24, 2021 / PRNewswire / – Global safety equipment manufacturer MSA Safety Incorporated (NYSE: MSA) announced today that it has entered into a definitive agreement to acquire Bacharach, Inc. and its affiliates (Bacharach) from FFL Partners, a San Francisco, California Private equity firm based in a transaction worth $ 337 million. Headquarters nearby Pittsburgh in the New Kensington, Pa.Bacharach is a leader in gas detection technologies used in the heating, ventilation, air conditioning and cooling (HVAC-R) markets, with annual sales of approx. $ 70 million. The company employs 200 people at four locations in the USA. Canada and Ireland.

Bacharach’s advanced instrumentation technologies were founded in 1909 and help protect life and the environment. At the same time, they increase the operational efficiency of the diversified customer base. The company’s portfolio of gas detection and analysis products is used to detect, measure and analyze leaks of various gases common in both commercial and industrial environments. Bacharach has extensive expertise in the refrigerant leak detection market for customers in the HVAC-R, food retail, automotive, commercial and industrial refrigeration, and military sectors.

“The Bacharach acquisition accelerates our long-term growth strategy to expand our addressable market for applications that align with MSA’s mission and core technologies,” he said Nish Vartanian, MSA Chairman, President and CEO. “With a leading recognition portfolio and a strong brand, Bacharach offers access to attractive end markets and at the same time adapts perfectly to MSA’s product and manufacturing expertise.” Mr. Vartanian added that the MSA gas detection center of excellence and Bacharach headquarters are both located in the metropolitan area Pittsburgh Area.

MSA Senior Vice President and Chief Financial Officer Ken Krause will act as executive sponsor of the acquisition. In this role, Mr. Krause will monitor the Bacharach integration process and work towards achieving acquisition synergies.

“The acquisition of Bacharach is an exciting opportunity to further stabilize our gas detection portfolio,” said Krause. “Bacharach’s end markets are guided by regulatory tailwinds that support growth in various business cycles. The company’s complementary technology and manufacturing processes also provide the opportunity to increase productivity in a number of areas,” he said.

Mr. Krause added that the acquisition reflects MSA’s balanced approach to capital investment. “Growth remains a top priority in our capital allocation strategy. The strength of our balance sheet has positioned us very well to capitalize on organic and inorganic growth opportunities in our portfolio while funding an increasing dividend,” he said.

Matthew TooneBacharach CEO commented, “MSA’s global reach will play an important role in Bacharach’s future growth. With complementary technology, similar roles and a like-minded approach to sustainability and the environment, we see this acquisition as a great addition for both Bacharach and for MSA. “

MSA’s detection brands, which include General Monitors, Senscient, Sierra Monitor and now Bacharach, represent more than 325 years of combined gas detection innovation with a common mission: protecting the health and safety of people and facilities around the world.

MSA plans adjusted earnings growth of $ 0.10 – – $ 0.15 per share in the second half of 2021 and $ 0.25 – – $ 0.35 per share for full year 2022. MSA expects to use a combination of senior revolving credit facility and long-term fixed income debt to fund the transaction upon completion. The acquisition is expected to add approximately leverage to MSA’s balance sheet.

In connection with the acquisition, MSA modified and expanded its credit facilities to increase lending capacity and flexibility. With these changes, MSA’s senior revolving credit facility now includes a sustainability-linked pricing structure that is tied to the company’s performance on certain ESG metrics.

The transaction is expected to close in early July subject to customary closing conditions, including receipt of regulatory approvals.

About MSA

Founded in 1914, MSA Safety Incorporated is a world leader in the design, manufacture and supply of safety products for protecting the infrastructure of people and facilities. Many MSA products incorporate a combination of electronics, mechanical systems, and advanced materials to protect users from dangerous or life-threatening situations. The company’s comprehensive line of products is used by workers around the world in a variety of markets including the oil, gas and petrochemical, fire, construction, mining and military industries. MSA’s core products include self-contained breathing apparatus, stationary gas and flame detection systems, portable gas detection instruments, industrial head protection products, fire helmets and protective clothing, and fall arrest devices. With 2020 sales of $ 1.35 billion, MSA employs approximately 5,000 people worldwide. The company is headquartered north of Pittsburgh in Cranberry Township, Pennsylvania, and has manufacturing facilities in the United States, Europe, Asia, and Latin America. With more than 40 international locations, MSA generates around half of its sales outside of North America. For more information, please visit the MSA website at www.MSAsafety.com.

About Bacharach, Inc.

Bacharach is a provider of cleantech solutions for the detection and identification of gas and refrigerant leaks, for the tracking of refrigerants, for combustion and emissions analysis as well as for high-purity oxygen gas analysis in commercial and industrial applications. Bacharach products make the heating, ventilation, air conditioning, cooling (HVAC-R) and process industries safer, cleaner and more energy efficient. In this way, customers can increase their productivity, reduce costs and protect life and the environment.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, certain topics discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among other things, any projections and expected levels of future performance. Benefits and synergies of the transaction, future opportunities for the combined company and other statements regarding the future expectations, beliefs, goals, plans or perspectives of the management of MSA and Bacharach. Forward-looking statements involve risks, uncertainties and other factors that could cause our actual results to differ materially from those discussed here. Any number of factors could cause actual results to differ materially from those projected or forward-looking statements, including MSA’s ability to successfully integrate the business and employees of Bacharach, unexpected costs, changes or expenses arising out of the Transaction result, and the risk that the Transaction will disrupt the Transaction, current plans and activities of MSA and Bacharach, the ability to realize anticipated synergies, the ability of MSA to successfully grow Bacharach’s business, possible adverse reactions or changes in business relationships as a result the announcement of the transaction, the retention of key employees, global economic conditions, government spending patterns, competitive pressures, product liability claims, the success of new product launches, exchange rate fluctuations and the risks of doing business abroad d. For a full listing of these risks, uncertainties and other factors, please refer to our filings with the US Securities and Exchange Commission (“SEC”) from time to time, including our most recent Form 10-K filed on February 19, 2021. It is strongly recommended that you Review all such filings for a more detailed discussion of these risks and uncertainties. MSA’s SEC filings are available at www.sec.gov and on its own Investor Relations website at http://investors.MSAsafety.com. MSA undertakes no obligation to publicly update the forward-looking statements contained herein except as required by law.

SOURCE MSA Security

similar links

http://www.MSAsafety.com

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Cedar President Seth Cohen (L) and CEO Florian Otto (R).

cedar

For many Americans, trying to interpret a medical bill can be like reading a foreign language. There are CPT codes, hospital expenses, insurance discounts, random fees, deductibles, and finally the amount you actually owe. Then the ancillary bills can trickle in. A balance from the diagnostic lab. Medical Device Charges. Money to pay the doctor who saw you during the operation but was not included in the hospital bill. And on and on.

With the startup Cedar for medical accounting software, Florian Otto wanted to define one side of the equation: the financial interaction between the patient and the hospital or doctor. “We want to transfer the digital health experience on the financial side to the 21st century in order to make it personalized, immediate, transparent and convenient,” says Otto, 40, co-founder and CEO of Cedar.

Each year, more than 12 million patients across 36 healthcare systems use cedar to check their insurance, make a co-payment before the visit, and pay their outstanding bills after a visit. All billing information is retrieved from the patient’s electronic patient file and reintegrated into it, regardless of the provider. But even if the hospital or doctor’s bill makes more sense now, there is still one important sticking point: the insurance side. As a result, Cedar on Thursday announced a $ 425 million acquisition of San Francisco-based OODA Health for a mixture of cash and equity. The move was driven by a $ 200 million Series D injection in March led by Tiger Global Management valued at $ 3.2 billion for cedar. The company has raised $ 370 million to date.

Whenever you go to a hospital, doctor, or even get a prescription, insurers send confusing documents called “Statement of Benefits” that specifically state “This is not an invoice”, but very confusingly similar to an invoice. “An average patient cannot really differentiate between what comes from the provider and what comes from the payer,” says Otto. The combined company aims to make things easy for patients with a simplified bill.

When consumers have a better understanding of what they are paying and why, they are more likely to pay their bills, which reduces the huge administrative burden for everyone involved. The U.S. spends nearly $ 500 billion on health care administration for billing, insurance, and overhead costs not directly related to the provision of care.

It doesn’t make sense for hospitals and doctors to have to explain to patients how their insurance, a product developed by a completely different company, works, but that’s the strange reality of the fragmented U.S. healthcare system, says Seth Cohen, 41. Co-founder of OODA. “The way we process and manage claims hasn’t changed in decades,” says Cohen. “All of these innovations are happening all over Silicon Valley, New York, but that level of administration has not been touched.”

We have this trifecta of provider, patient and payer together.

Florian Otto, cedar

OODA takes its name from a military acronym from the 1960s that stands for “observe, orient, decide, act” and, in the healthcare context, aims to make faster, smarter decisions based on data. Cohen and his co-founder Giovanni Colella first met at Castlight, where Cohen was vice president of sales and alliances and Colella was co-founder and CEO. Castlight, which offered healthcare pricing transparency software to employers, went public at nearly $ 40 a share and is now trading at less than $ 2 a share. His spectacular blaze is now a cautionary story for digital health, even as the market enters a frothy phase of sky-high valuations. Cohen, who is on the board of directors at Castlight, said the experience made him realize that healthcare companies targeting employers have hit a cap on scaling. “What if we go into the beast’s belly, so to speak, and try to fix some of those broken administrative pieces?”

Cohen and Colella founded their company in 2017 together with co-founders Anshul Amar and Midori Uehara. They built a platform on which patients can receive a statement from the insurer, which also includes deductibles and other payment options such as a health savings account. It also offers the flexibility of payment plans so customers aren’t forced to pay a huge bill at once or end up in collections. OODA, which has raised $ 57 million, has signed contracts with major insurers such as Blue Shield of California and Anthem Blue Cross and recently entered into a corporate agreement with UnitedHealth Group. Cohen will serve as president and director of the combined company. Cedar co-founder Arel Lidow and OODA co-founder Anshul Amar will serve in leadership roles.

Cedar, which gets its name from the tree for its medicinal properties, strength, and longevity, was launched in 2016. Originally from Germany, Otto had a background in health consulting at McKinsey in Brazil, where he later founded a company that was acquired by Groupon and became the head of Groupon Brazil. It was his wife’s experience in an emergency room in New York – and the billing nightmare that followed – that got him back into healthcare. Reducing hundreds of billions of dollars in annual administrative waste in the U.S. healthcare system means it is becoming more affordable for everyone, Otto says. “Cedar is the only company that can really build this because we have this trifecta of provider, patient and payer together.”

The first step after the acquisition is to merge the provider and insurance products. Then the company will move to new products that focus on the back end of accelerating payments between insurers and providers by addressing issues like prior approval. “We want to enable the patient to take care of their medical problem and not have to worry about administrative or financial problems,” says Otto. “If you have an illness, you still have stress. We want to take this away from the patient so that he can concentrate on getting well. ”

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SAN FRANCISCO – (BUSINESS WIRE) – Alpine Investors (“Alpine”), a midsize private equity firm focused on people-focused to build lasting businesses, announced today that it is partnering with Frank Gay Services (“Frank Gay”), a plumbing company , HVAC, electrical and electrical contractor, mechanical services company based in Orlando, Florida. The terms of the private transaction were not disclosed.

Frank Gay joins Best Home Services (“Best”), a nationally award-winning HVAC, plumbing, electrical, and repair company based in Naples, Florida, to serve as the foundation for Apex Service Partners (“Apex”), Alpine new venture to act platform that will be a partnership of the leading private and commercial service companies. The companies will continue to operate independently under their respective brands.

Alpine has extensive experience in the HVAC, plumbing and electrical services sectors. We are excited to use our expertise to quickly make Apex a market leader,” said Daniel Cohen, Vice President, Alpine. “Best and Frank Gay have an exceptional reputation in the industry. The merger makes Apex an attractive home for other founders looking for a growth partner for their company.”

Alpine plans to invest at least $ 100 million in equity in founder-owned companies over the next five years to help Apex become a national leader. The company successfully followed a similar strategy with what later became the Wrench Group, providing HVAC and plumbing services to the Atlanta, Dallas, Houston and Phoenix markets, which had sales of over $ 150 million and was subsequently sold to Investcorp in 2016.

“Home and Commercial Services is a fragmented marketplace where Apex can continue to empower large companies to accelerate growth with our resources and support,” said AJ Brown, CEO of Apex, headquartered in Tampa, Florida. “Through the Apex partnership, these companies can leverage the expertise of some of the best operators in the country and have access to capital to build new facilities, invest in their teams, provide the best possible equipment and training for technicians, and ultimately improve the experience of their customers and the career opportunities of employees. ”

Brown, an Alpine CEO-in-residence, was previously CFO of construction software company Avitru, a former Alpine portfolio company. Brown owns Will Matson, who serves as Apex’s Head of M&A and CFO. HVAC, plumbing, and electrical service owners interested in joining Apex should contact Will Matson at Wmatson@apexservicepartners.com or 817-614-1242.

“Switching leadership can be difficult in such a customer-centric industry,” said Frank Gay, founder of Frank Gay Services. “Alpine’s strong focus on people and relationships sets it apart among financial companies and positions Apex well to thrive in a competitive, high-touch industry like ours. We couldn’t be more excited about our future and partnership with Alpine. ”

Orchard MB acted as the exclusive transaction advisor to Frank Gay Services.

Apex service partner information

Apex Service Partners is an HVAC, plumbing and electrical services group that aims to partner with world-class service providers to build an industry-leading national platform. Apex is focused on harnessing the power of people to build a strong network of industry leaders who can share resources, best practices and expertise to provide customers with unparalleled service and employee opportunity.

About alpine investors

Alpine is a human-run private equity firm dedicated to building lasting businesses by working with, learning from, and developing with exceptional people. Alpine specializes in medium-sized companies in the software and service industry. The PeopleFirst strategy includes a CEO-in-residence program in which Alpine initially works with CEOs and integrates them into companies as part of the transaction. This offers a clear solution for situations where additional or new management is desired after the transaction. More information is available at http://www.alpineinvestors.com/.

About Best Home Services

Best Home Services was founded in 1980 as a family electrical services business that has since expanded to include HVAC, plumbing and repairs under the leadership of brothers Chadd and Keegan Hodges. Best operates in southwest Florida and is headquartered in Naples, Florida and has two other offices in Sarasota and Fort Myers. Their mission is centered on providing our customers with the best of all services. Best is a nationally award-winning company focused on growth and world-class customer service. They employ around 300 full-time team members, including certified technicians, who ensure the highest level of customer service and provide simple, flexible and trustworthy service. Best Home Services specializes in service work in residential areas.

About Frank Gay Services

Frank Gay Services was founded in 1981 as a one-man plumbing company. The company has grown organically to become one of the largest service companies in central Florida, providing plumbing, HVAC and electrical services to residential, commercial and municipal customers. Work ethic, integrity, and exceptional team members delivering top-notch service have enabled Frank Gay Services to stand out from the competition. Frank Gay Services is headquartered in Orlando and has a satellite office in Tampa. The company has 140 service vehicles and 175 full-time employees who have a plan to expand their radius of success in the years to come.

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CUPERTINO, California – (BUSINESS WIRE) – Intero®, a subsidiary of Berkshire Hathaway and a wholly owned subsidiary of HomeServices of America, Inc., today announced the acquisition of Berkshire Hathaway HomeServices California Realty. Samuel Cadelinia, a 41-year-old industry veteran and former broker and owner, will continue his successful real estate practice at Intero in San Francisco.

“This acquisition will fuel our progress and momentum in San Francisco,” said Brian Crane, co-founder and chief executive officer of Intero – A Berkshire Hathaway Affiliate. “Sam fits in perfectly with our intero culture in San Francisco. Sam and Cathy have been friends for many years and will do an excellent job integrating Sam’s group from BHHS into Intero and helping us grow our presence in San Francisco. ”

Intero San Francisco Vice President and General Manager Cathy Scharetg will bring her existing agents and operations together in the newly acquired office at 1430 Taraval Street, San Francisco.

“I am very excited to welcome Sam and his agents to the Intero family,” said Cathy Scharetg, VP and Managing Officer of Intero San Francisco and Daly City. “I have known Sam for almost 15 years and can confirm the quality of his person. It will be so fulfilling to work together to grow our community-focused real estate business in San Francisco. ”

“I couldn’t think of a better company to connect with than Intero and my agents,” said Samuel Cadelinia, former broker and owner of BHHS California Realty. “This transition has revived me and I look forward to helping Cathy continue to build a world-class San Francisco real estate operation.”

About the Intero brand:

Intero, a subsidiary of Berkshire Hathaway and a wholly owned subsidiary of HomeServices of America Inc., serves Northern California and Nevada with 22 offices across Silicon Valley, San Francisco, Calaveras County, western Nevada, and the Greater Lake Tahoe region. The Intero franchise network consists of 55 subsidiaries in Alabama, California, Nevada, Tennessee and Texas. The company is headquartered in the heart of California’s Silicon Valley.

You can find more information about Intero at www.intero.com. You can find more information about HomeServices at www.homeservices.com.

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