Morgan Stanley Capital Partners Completes Investment in Sila Heating & Air Conditioning
NEW YORK–(BUSINESS WIRE) – Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the mid-market focused private equity team at Morgan Stanley Investment Management, have completed an investment in Sila Heating & Air Conditioning (“Sila” or the “Company”), from investment funds managed by Dubin Clark & Company, Inc. MSCP is partnering with the current management team led by CEO Lou Pellegrini and founder Jack Rothacker, who will continue to lead the company.
Headquartered in King of Prussia, PA, Sila is a leading provider of HVAC, plumbing and electrical services in the Northeast and Mid-Atlantic. The company is a multi-brand platform that has grown organically over the past thirty years as well as through acquisitions.
Adam Shaw, Managing Director and Head of Business Services at MSCP, said, “We are delighted to partner with Sila and his talented management team as they continue to build the business into the leading residential services platform in the Northeast. Sila’s track record of consistent growth and strong, customer-centric culture is a testament to what the management team has built over the past 30 years. We look forward to working together to further expand the business through organic growth and strategic acquisitions. ”
MSCP’s investment in Sila is consistent with the team’s focus on service industry companies that deliver high quality, outsourced services with superior customer acquisition capabilities. Sila, MSCP’s latest investment in the industry, is the team’s second investment in 2021, following Nivel Parts and Manufacturing earlier this month.
“We are thrilled to partner with MSCP for the next chapter in the growth and evolution of our business,” said Lou Pellegrini, CEO of Sila. “Our team has always been focused on providing high quality heating and air conditioning to consumers in the North East and Mid Atlantic regions and the support of MSCP will help us continue that mission. The team’s approach to operational excellence and their experience completing additional acquisitions will be invaluable as we aim to add brands under the Sila umbrella in the coming years. ”
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a leading mid-market private equity platform that has invested capital across a broad spectrum of industries for more than 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 across a range of business services, consumer, healthcare, education and industrial subsectors , with an emphasis on driving significant organic and acquisition growth through an operationally focused approach. For more information about Morgan Stanley Capital Partners, please visit www.morganstanley.com/im/capitalpartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, along with its investment advisory subsidiaries, has more than 731 investment professionals around the world and $ 1.4 trillion in assets under management or supervision as of March 31, 2021. Morgan Stanley Investment Management aims to deliver excellent investment results on long term, service and a comprehensive range of investment management solutions for a diverse clientele, including governments, institutions, companies and individuals worldwide. For more information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services company providing investment banking, securities, wealth management and wealth management services. With offices in more than 41 countries, the company’s employees serve clients around the world, including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
About Sila heating and air conditioning
Established in 1989, Sila offers a wide range of residential HVAC, plumbing, electricity and indoor air quality services. Sila serves the Northeast and Mid-Atlantic United States, serving clients from New Hampshire to Virginia. Visit the company’s website for more information https://sila.com/.