JTW Advisors LLC announced that its client, McGowan’s Heating & Air Conditioning, the largest stand-alone HVAC provider in the Jacksonville market, has been acquired by Del-Air Heating, Air Conditioning & Refrigeration, a renowned provider of home services backed by Astara Capital Partners.
JTW Advisors served as the exclusive investment banker to McGowan’s Heating & Air Conditioning for the transaction. This is JTW Advisors’ second HVAC transaction in the past week. Last Monday, JTW advised Tampa, Florida-based Gator Air Conditioning on its sale.
McGowan’s Heating & Air Conditioning
The company’s business mix afforded it the ability to weather the industry’s seasonality
McGowan’s, an institution for over 50 years in the Florida HVAC industry, built a reputation for excellence across its residential replacement, service and maintenance departments.
The company’s business mix afforded it the ability to weather the industry’s seasonality, while expanding its customer install base through its residential new construction work. This differentiated model, combined with its strong market position, attracted significant interest from a highly competitive field of buyers.
McGowan’s selects Del-Air for take over
After receiving numerous bids, McGowan’s ultimately selected Del-Air due to its employee-focused culture and the senior management team’s proven track record of successfully integrating acquisitions while maintaining operational excellence.
The acquisition allows Del-Air to establish a major foothold in the Jacksonville market, strengthening its statewide presence.
JTW Advisors advises McGowan’s on the transaction
“We built McGowan’s with a commitment to our customers and employees, and it was important to find a partner who shared that vision,” said Mike Regula, Owner and Operator of McGowan’s Heating & Air Conditioning, adding “Del-Air’s reputation among its customers and their approach of an employee-first culture made them the right choice to carry our legacy forward.”
“We are proud to have advised McGowan’s on this transaction,” said Kyle Bobinski, Managing Director at JTW Advisors, adding “Our structured sale process generated strong interest, and we are pleased to have helped deliver an outstanding outcome for McGowan’s and its owners.”
Del-Air expands footprint rapidly across Florida
Del-Air, backed by Astara Capital Partners, has been expanding rapidly across Florida
Del-Air, backed by Astara Capital Partners, has been expanding rapidly across Florida, acquiring major HVAC providers to strengthen its presence in key markets. McGowan’s marks its latest strategic expansion, reinforcing Del-Air’s position as one of the state’s premier home services companies.
“This is the second HVAC M&A transaction JTW Advisors has advised on in the past week,” said Chris Jasinski, CEO and Co-Founder of JTW Advisors.
He adds, “The M&A market remains robust for home services companies. Strategic buyers and private equity-backed firms continue to compete for well-run businesses.”
Strong M&A demand in the homebuilding industry
Chris Jasinski continues, “We are experiencing strong M&A demand in the homebuilding industry as well. There is increasing optimism M&A activity will accelerate under the new administration in Washington. We foresee another strong M&A market in 2025.”
