Berkeys is a leading provider of HVAC and plumbing services to homeowners in the Dallas/Ft. Worth metropolitan area. Abacus is a leading provider of plumbing services in Houston. Both Berkeys and Abacus have experienced growth over each of the last five years and the partnership is expected to lead to additional expansion and growth opportunities for both businesses.
Collin Hathaway of Skylight said, “After meeting with and evaluating hundreds of plumbing and HVAC service businesses, it is apparent that Abacus and Berkeys are far and away two of the best managed and best positioned regionally-focused home service businesses in the country. We are very excited to be working with the Abacus and Berkeys teams.”
The founders of both companies will continue to run their respective businesses. Abacus founder and CEO, Alan O’Neill, said, “Collin, Alpine, and Berkeys founder, Bill Stevens, represent everything I’d want in partners: they are honest, have a long-term focus, and bring forth years of experience in growing small businesses, which will be critical to Abacus as we enter the next phase of growth. I could not be happier to have them as partners.”
The financial terms of the transaction were not disclosed.
Publication date: 02/20/2012