North Branch Capital Invests in Randazzo
December 12, 2017
North Branch Capital, LLC (“North Branch”) announced today that it has completed an investment in Randazzo Mechanical Heating & Cooling, LLC (“Randazzo”). Headquartered in Macomb, Michigan, Randazzo is a leading provider of non-discretionary, residential heating, ventilation and air conditioning (“HVAC”) replacement and maintenance services. The company has a well-established history and reputation in the greater Detroit metro area, having served over 50,000 homes in its history.\
“The Randazzo team has built an outstanding business, consistently delivering quality HVAC products and exceptional customer service to homeowners” said Bill Huber, Partner of North Branch. “Randazzo is well-positioned to continue its strong track record of growth in the Michigan market through its superior technical know-how and customer-centric approach.”
“We are thrilled to partner with North Branch as we embark on our next phase of growth” said Mike Randazzo, President of Randazzo. “North Branch’s operating resources and strategic guidance will help take our company to the next level, both organically and through strategic acquisitions.
North Branch partnered with Aberdeen Standard Investments, Schroder Adveq and the Randazzo management team to complete this equity investment. First Midwest Bank provided a working capital line of credit alongside unitranche debt investments by Midwest Mezzanine Funds and Five Points Capital. KattenMuchin Rosenman LLP served as legal counsel to North Branch in the transaction.
North Branch closed the investment on November 30, 2017, marking the fourth platform investment and eighth transaction completed since launching in 2014. To learn more about Randazzo, visit www.callrandazzo.com.
About North Branch Capital
North Branch Capital (www.northbranchcap.com) is a lower middle market private equity firm, based in Oak Brook, IL, with a long history of investing alongside and partnering with management teams in industrial businesses. We specifically target businesses that lead with engineering excellence or value- added services in order to solve complex customer problems. We seek partnerships with strong leadership teams driving tremendous cultures, and we are much more than a source of capital or liquidity. With 50 years of collective operating experience, our collaboration with management teams is unique. This experience comes from the Partners of North Branch, not a network of executives or consultants.