Shearer Supply Acquires Climatic Comfort Products from The Climatic Corporation
Leading HVAC distributor Shearer Supply announced today that it has acquired Climatic Comfort Products ("CCP"), the HVAC distribution subsidiary of The Climatic Corporation. The transaction combines two of the leading HVAC distributors serving the southern U.S. and expands Shearer's reach across the Southeast with the acquisition of CCP's eight locations throughout Florida, Georgia, and Alabama.
Family owned and operated since 1936, CCP has evolved over the last 88 years into a leading distributor of HVAC equipment in the Southeast. CCP offers a range of products including American Standard Heating & Air Conditioning residential and commercial equipment, ServiceFirsttm parts and supplies, Ameristar Heating & Cooling, and Mitsubishi mini-splits.
"The acquisition of CCP fits well with our strategy of acquiring complementary businesses located in attractive geographies representing best-in-class equipment manufacturers," said Michelle Shearer-Rodriguez, CEO of Shearer Supply. "With CCP, we gain a deeper foothold in key markets across the Southeast that position us well for continued expansion throughout the region, while strengthening our longstanding relationship with American Standard. We also see significant opportunity to capitalize on complementary areas of expertise to grow the business holistically across a number of product verticals."
Founded in 1983, Shearer is one of the nation's largest independent distributors of HVAC equipment, parts and supplies serving customers from its 24 branches across Texas, Oklahoma, Arkansas, Tennessee and Louisiana. Headquartered in Dallas, Shearer's core product lines include American Standard Heating & Air Conditioning residential and commercial equipment, Ameristar Heating & Cooling, Samsung HVAC, and a broad lineup of parts and supplies. The acquisition of CCP is Shearer's second acquisition in the last 18 months following the 2022 acquisition of Partners Supply, an HVAC distributor with locations in Chattanooga and Knoxville, Tennessee, and Huntsville, Alabama.
"The decades worth of industry knowledge between Shearer and CCP, combined with our complementary geographies and skillsets, make for a compelling combination that will accelerate the geographic and product offering expansion of the collective business, allowing us to better serve and grow our customer base," said Alex Rodriguez, President of Shearer Supply. "We have a strong market opportunity and attractive runway for growth, and we look forward to joining forces with the CCP team to execute on our strategic priorities."
This is Shearer Supply's first acquisition since partnering with Investcorp, a global alternative investment manager, last year.
Gibson, Dunn & Crutcher LLP represented Shearer Supply in the transaction.
About Shearer Supply
Founded in 1983 by the Shearer family, Shearer Supply is a leading replacement-focused HVAC distribution platform of scale providing residential and commercial equipment, parts and supplies to a highly fragmented base of 5,500+ local contractor customers in the Southern U.S. region. The Company serves customers from 24 branches across Texas, Oklahoma, Arkansas, Tennessee, Mississippi, Louisiana, Alabama, and New Mexico. Headquartered in Dallas, TX, Shearer's core product lines include American Standard Heating & Air Conditioning Residential and Commercial equipment, Ameristar Heating & Cooling, and Samsung HVAC. The Company also offers parts, supplies and accessories sourced from over 300 vendors.
About Climatic Comfort Products
Founded in 1936, Climatic Comfort Products is a proud distributor of American Standard Heating & Air Conditioning residential and commercial equipment, ServiceFirsttm parts and supplies, Ameristar Heating & Cooling, and Mitsubishi mini-splits. The company operates eight branches located throughout the southeast in Georgia, Alabama and the Florida Panhandle.
About Investcorp
Investcorp is a global investment manager specializing in alternative investments across four asset classes: Private Equity (Mid-Market Buyouts, Growth Investments, and GP Staking), Real Assets (Infrastructure and Real Estate), Credit (CLOs, Broadly Syndicated Loans & Structured Credit, and Middle-Market Direct Lending), and Liquid Strategies (Absolute Return Investments and Insurance Asset Management).
Since our inception in 1982, we have focused on generating attractive returns for our clients and seeking to create long-term value in our portfolio companies by adopting a disciplined investment process, employing talented professionals, and utilizing the resources of a global institution with an innovative approach.
We invest capital in our products and strategies, aligning interests with our clients and other stakeholders. We pursue sustainable value creation through our investments and in the communities in which we operate and take pride in partnering with clients to deliver tailored solutions for their needs.
Today, Investcorp manages $52 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.
For further information, visit http://www.investcorp.com/ and follow us @Investcorp on LinkedIn, Twitter and Instagram.
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