Microf LLC, a provider of residential lease-to-own products for the HVAC industry, raised $96.7 million in growth capital. The combined debt and equity raise is funded through a new $40 million committed senior debt facility provided by Atalaya Capital Management with an additional $40 million accordion feature; a new $10 million senior debt facility provided by Microf’s existing lender, BrandBank; and $6.67 million in equity provided by current equity investors.
HOUSTON — Goodman Manufacturing will be the first heating, ventilation and air conditioning (HVAC) manufacturer to launch Emerson’s new Copeland Scroll™ two-stage compressor that’s designed to provide budget-minded homeowners high-energy efficiencies with enhanced indoor comfort at an affordable, mid-tier price, the companies have announced.
My stress arrives with figuring out what topics matter to my readers. I’ve repeatedly said we’re a business publication for owners and operators in the wholesale HVACR industry. I honestly pretend sometimes that I am the owner of a distributorship or maybe a hard-working middle management type. I ask myself: What do I have in common with everyone else and what can I do to make it better?
It can take up to 20 years to build a quality brand name, but just a handful of bad experiences can destroy it. The great entrepreneurs of our time believed this to be true. Steve Jobs, Mark Zuckerburg and Keith Merrill all bought into the concept that having a superior innovative product was not enough.
Enercare Inc., parent company of Service Experts Heating & Air Conditioning, announced the retirement of Scott Boxer and the appointment of Scott Boose as president and CEO. Boose has assumed responsibility for the strategic and operational leadership for Service Experts, including growth plans and the continued delivery of great customer experience.
Newport News, Va. — Ferguson’s parent company Wolseley plc, an international distributor of plumbing and heating products to professional contractors, announced its financial results for the first half of the 2017 fiscal year alongside a name change and the upcoming retirement of CEO Frank Roach.
Fort Washington, Penn. — Thermostat Recycling Corp. (TRC) has announced its sixth annual Big Man On Planet (BMOP) competition began May 1, in partnership with Heating, Air-conditioning and Refrigeration Distributors International (HARDI). BMOP will run through Oct. 31 and all HARDI wholesaler members are eligible to participate.
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