Airmax Partners with Columbia Home Services to Expand HVAC Presence in Wilmington
Airmax lands industry-leading partnership with the help of MidStreet Mergers & Acquisitions
About the Company
Founded in 2001, Airmax has built a reputation for delivering high-quality residential and light-commercial HVAC services to customers throughout the region. Owner Stephen Beacham has been in the HVAC industry his entire life. Hailing from a long line of business owners, Stephen set out at age of thirty-three to build a premiere HVAC service business, with Trane as his equipment partner.
Stephen regularly received rewards as one of Trane's top contracts in the market area. Every year for more than a decade, the company placed within the top-10 for Trane equipment installed within the eastern region.
After many fulfilling years, Stephen's love for HVAC and his team was as strong as ever. Yet, at age 56, he sensed it was the right time to find a partner who could nurture the company’s growth for many years to come.
How MidStreet Helped
With a strategic vision for his company's future, Stephen engaged MidStreet Mergers & Acquisitions, renowned for their expertise in the HVAC sector. Under the leadership of M&A Advisor Jonah Pollone, the MidStreet team implemented a thorough process to identify the most suitable partner.
MidStreet's comprehensive marketing strategy identified over one hundred potential candidates. Ultimately, MidStreet determined that 18 of these candidates were suitable, resulting in more than ten Indications of Interest. After numerous in-person meetings with Stephen's preferred candidates, he chose to partner with Columbia Home Services.
Stephen now remains President of Airmax Heating and Cooling, with the backing of his new partner CHS.
"Joining Columbia Home Services allows us to continue delivering top-tier HVAC solutions while expanding our capabilities," said Stephen Beacham, founder and president of Airmax. "Columbia’s commitment to retaining our employees and improving operations means we can better serve our customers and grow the business."
Partnership with Columbia Home Services
Columbia Home Services is a Residential and Light Commercial home services platform specializing in repair, maintenance, replacement, and installation services in emerging markets across the US. Headquartered in Dallas, Texas, CHS is supported by experienced industry leaders with expertise in HVAC, plumbing, and electrical services.
With more than seven partner brands, their support will ensure higher level positions for existing employees, improved employee benefits, and a more professional service offering for customers. Airmax will continue providing homeowners with their heating and air needs, and may consider future expansion into plumbing and electrical sectors.
"We’re excited to bring Airmax into the Columbia Home Services family," said Paul Adams, CEO of CHS. "Airmax’s strong reputation and dedication to quality align perfectly with our vision. By combining forces with Anderson Air and Hodges Electric, we’re strengthening our presence in Wilmington and ensuring long-term success."
As their collaboration with Columbia Home Services progresses, Airmax's exceptional HVAC services are set to grow and enhance further. The company and its leadership eagerly anticipate many more years of serving the Wilmington area.
About MidStreet Mergers & Acquisitions
MidStreet Mergers & Acquisitions, a leader in lower-middle-market transactions, represented Airmax Heating and Cooling in the sale. MidStreet specializes in helping blue-collar businesses, such as HVAC companies, find strategic partners for long-term success.
Private equity firms are increasingly targeting blue-collar sectors like HVAC, plumbing, electrical, roofing, and pest control, as these essential services have proven resilient and offer strong growth potential. Recent years have seen a surge in private equity-backed platforms in the home services industry, reflecting the growing demand for consolidation and expansion in this space.
MidStreet’s president, Jeff Baxter, also commented on the HVAC industry trends influencing the deal:
"This is one of several HVAC transactions we've completed, and we’ve seen unprecedented interest in the sector from strategic buyers and private equity," said Baxter.
"Airmax received more attention than any business we’ve represented – for the right companies, now is a great time to consider an exit. For lower-middle market HVAC contractors with <30% new construction exposure, we’re seeing EBITDA multiples ranging from 7-10x. Private equity’s growing interest in blue-collar industries, especially home services, continues to drive these trends."
