Enviro-Serv Announces Intent to Purchase Above Air Inc. Air Conditioning
Above Air focuses on residential and light commercial service, replacement, and preventative maintenance
TAMPA, Fla. — Enviro-Serv Inc., which targets highly profitable small service companies in the commercial and residential property maintenance industry, announced that it is in the final stages of discussion to purchase Above Air Inc. Air Conditioning.
“This is the first purchase of its kind for Enviro-Serv and a huge milestone for the company,” said Chris Trina, CEO of Enviro-Serv. “We’ve been pushing hard for a long time as many shareholders are aware and this being our first transaction of the New Year is a big step for the company. Final negotiations are ongoing on numerous items pertaining to the definitive purchase agreement being agreed upon but we are extremely confident in our ability to reach this milestone in fairly short order. Above Air A/C ended 2015 with approximately $1.5 million in revenue and was net profitable. They have grown around 10 percent annually over the last three years and service over 1,000 clients. Mr. Chris Marino, founder and president of Above Air, has committed to staying onboard for approximately one to two years for transitioning which makes this opportunity that much more enticing. He’s a true winner and a welcome addition to our team.”
Above Air has over 20 years of professional HVAC service focused on residential and light commercial service, replacement, and preventative maintenance. Serving all of Broward County as well as Palm Beach County north to Wellington, Above Air boasts a customer base of thousands of homes that use its services each year. Over the last three consecutive years (2013, 2014, and 2015) Above Air has earned the Carrier President’s Award for excellence in customer satisfaction and exceeding expectations as a Carrier dealer.
Above Air’s Marino stated, “I’m excited and optimistic about our negotiations with Enviro-Serv Inc. to acquire our organization. For Enviro-Serv shareholders we bring a rock solid client base that has been developed and maintained for over 20 years. For Above Air A/C we’re excited about the growth that we expect to see through the joint efforts of our new partnership. I look forward to seeing our staff become invigorated with the benefit that comes with a larger and dynamically growing publicly traded organization such as Enviro-Serv. I can say unequivocally my major interest in partnering up with Enviro-Serv is two-fold; 1) I think Mr. Trina is a talented and motivated CEO who will help grow Above Air to new record revenues and profits and 2) I strongly believe in the Pestmaster Services business model and what’s going on in Tampa Bay whereby the combined revenues and profits of these two subsidiaries should command a strong increase in stock valuation in my opinion.”
Marino concluded, “Above Air is a three-time Carrier President’s Award winning air conditioning contractor. We are expected to receive notice of our fourth President’s Award in the first quarter of 2016. The Carrier President’s Award is only awarded to a very select and elite portion of contractors who have risen to the top of Carrier’s factory authorized dealers. This award indicates that Carrier has thoroughly vetted the contractor’s business practices, customer satisfaction, product sales, and growth from year to year. I am eager to finalize the contract terms of the definitive purchase agreement and have full and complete faith that Mr. Trina is the right man to get this deal completed.”
For more information, visit www.enviro-serv.com.
Publication date: 1/14/2016