Written on: August 15, 2022 by ICM
Private equity firm Percheron Capital has signed a definitive agreement to acquire a majority stake in McWilliams & Son, a residential HVAC and plumbing services platform based in Lufkin, TX.
Following the transaction, McWilliams’ CEO Trey McWilliams will remain a significant investor and continue to lead the company. Terms of the transaction were not disclosed.
Founded in 1974 in Texas by the McWilliams family, McWilliams & Son offers residential HVAC and plumbing maintenance, repair and replacement services. The company’s people-first values focused on service, trust and reliability have resulted in industry-leading customer satisfaction scores and consistent growth for over 45 years. McWilliams’ commitment to providing advanced training programs, innovative technology and equipment to its technicians has made the company an employer of choice in the markets it operates.
Under Trey McWilliams’ leadership, the company has successfully expanded its reach through strong organic growth, new branch openings and acquisitions of high-quality, partnership-focused residential HVAC and plumbing businesses. With Percheron’s strategic support and operational resources, McWilliams is well-positioned to further accelerate its growth in new and existing markets.
“I am proud of our exceptional team and the strong business we have built together,” said Trey McWilliams. “We attribute our success to our people-centric approach and unwavering commitment to our customers, team members and community…I am excited about the significant opportunities our partnership with Percheron creates for our team members as we continue executing on our vision of building the premier provider of residential HVAC and plumbing services in the country.”
“The residential HVAC and plumbing services market has been a thematic investment priority for Percheron given the industry’s large size, non-discretionary services, strong and resilient growth and high fragmentation,” said Chris Lawler, Co-Founder and Managing Partner of Percheron. “We are thrilled to partner with Trey McWilliams and his team, who have built a rare platform with best-in-class operational and performance metrics, including leading customer service scores, technician productivity and retention.”