The largest independent provider of aftermarket maintenance, repair and replacement services for commercial heating, ventilation and air conditioning (“HVAC”) equipment in the United States. The company delivers its solutions to a diverse customer base of over 8,000 commercial, industrial and institutional clients on a self-perform basis through 34 locations across 25 states.
Sterling as Partners
Investment in Sales and Corporate Infrastructure
- Named Craig Steinke, a Sterling Operating Partner who served on the Board of Directors of Service Logic, as CEO.
- Sterling helped build a world class management team, including the hiring of a CFO and a CMO, and promoting existing executives to COO and Director of Corporate Development.
- Sterling made significant investments in sales infrastructure to focus business model on driving recurring maintenance sales, including the hiring of a new CMO and 24 new maintenance sales representatives.
- Aggregate investment in corporate and sales infrastructure exceeded $7 million.
- The Company completed 12 acquisitions under Sterling’s ownership period between July 2013 and June 2017.
- Sterling and the management team developed a focused, systematic approach for identifying, reviewing and executing acquisitions, resulting in a robust pipeline of actionable opportunities.
Operating and Capital Structure Improvements
- With Sterling’s financial support, Service Logic established a common corporate platform with industry-leading practices, including a common ERP system, a CRM system and a retirement and health plan.
- The Company developed and rolled out a national MobileTechTM field technology platform as well as a national sales training program.
- In July 2016, the Company completed a $206 million debt refinancing to refinance the Company’s existing debt and provide capital to complete up to four additional acquisitions.