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NEW YORK–(BUSINESS WIRE)–Delos Capital (“Delos”), a private equity firm based in New York, announced the formation of MechanAir LLC (“MechanAir” or the “Company”), a platform comprised of commercial HVAC/mechanical and plumbing companies with regional, industrial and technology differentiation in the Midwest and East Coasts.
MechanAir’s major acquisitions include State Mechanical Services, LLC (“SMS”) based in Aurora, IL, and Hampton Roads Mechanical of Virginia, LLC (“HRMVA”) based in Chesapeake, Virginia. Both companies will continue as regional divisions of MechanAir.
The experienced teams at SMS led by John D’Angelo and Gregory Shaw of HRMVA have a strong track record of providing design/engineering services; complex mechanical/HVAC/sanitary construction projects; and maintenance services for a range of clients, including Amazon, Nobu Hotels and NASA. John D’Angelo, who has headed SMS for the past 16 years, will become the CEO of MechanAir. Gregory Shaw, who has headed HRMVA for the past 11 years, will become the CEO of HRMVA.
Delos partnered with Amalgam Capital (“Amalgam”), an independent sponsor, comprised of a team experienced in integrating and scaling HVAC businesses.
“We are excited to partner with these amazing leaders and the Amalgam team to build the platform; we look forward to increasing the company’s footprint, both organically and through future acquisitions,” said Will DeBruyn, Partner at Delos Capital.
Arun Shukla, Managing Director at Amalgam, added: “I look forward to working closely with John, Greg and future HVAC partners to grow MechanAir into a national leader – as a one-stop shop for customers in different regions, I am confident that with Delos Capital as our partner, the company is ready to quickly realize that goal.”
John D’Angelo, Chief Executive Officer of MechanAir, said: “I am excited about the opportunity to partner with Delos, Amalgam and the people of both business teams to grow our business while continuing to deliver the great service we have always delivered for our customers.”
Gregory Shaw stated, “This is the start of an exciting journey for the HRMVA team and I look forward to working with everyone else at MechanAir to grow the business and seek additional partners through future acquisitions.”
About Delos Capital
Founded in 2013, Delos Capital is a lower mid-market private equity firm specializing in management buyouts, recapitalizations and growth investments.
About Amalgam Capital
Founded in 2020, Amalgam Capital is an independent sponsor consisting of a multidisciplinary team of investors, entrepreneurs and operators.
Source: Delos Capital