R.S. Andrews adds to its list of contractor acquisitions
In a story published by the Columbus Ledger-Enquirer, the acquired contractors were identified as AAA Service Co. and Holt Service Co.
“It makes sense to put all of these home services [hvac/r, electrical] under one roof and provide a great service,” said Ron Lucas, general manager of R.S. Andrews/Columbus. “It will be one call and one company.”
According to Mark Pederson, R.S. Andrews senior vice president of business development and marketing, the new acquisitions are part of an overall plan to prepare the company for eventual public ownership.
“We are at $100 million now [in acquired revenues] and we intend to be at $300 million by the end of 2000,” he said. “We are looking at going public in April or May of 2001.”
Pederson said that R.S. Andrews now has 20 companies in the fold and letters of intent with 14 others. The acquired contractors are in 19 cities scattered throughout Maryland, Virginia, North Carolina, South Carolina, Georgia, Florida, Tennessee, Alabama, Texas, Kansas, and Missouri. They are currently in negotiations in California and Louisiana.
R.S. Andrews continues to seek contractors who rely on service and replacement as the biggest percentage of their business. For the most part, the company prefers to stay away from the new construction market.