Recapitalizationverified
Gryphon takes majority of Florida's Southern HVAC from MSouth
What happened. Gryphon Investors completed a majority investment in Southern HVAC, buying from Atlanta-based MSouth Equity Partners. Southern operated 15 brands and more than 650 employees across Florida, Georgia, Missouri, North Carolina, South Carolina and Texas under CEO Bryan Benak. Gryphon simultaneously created a holding company, North American Essential Home Services (NAEHS), led by CEO Ian McKeen, to sit above Southern and Gryphon's Canadian platform Right Time, allowing shared best practices and scale while each company kept its own brands, strategies and management. Terms were not disclosed.
Parties
- Company
- Buyer
- Southern Home Services (formerly Southern HVAC Corporation)
- Capital
- Gryphon Investors
- Price
- Not disclosed
- Employees
- 650 at announcement
What this kind of deal tends to mean for customers and staff: pricing · sales pressure · technicians · the exit clock.
Sources Verified — primary document
- PR Newswire / Gryphon Investors (2021-10-04) — press release. Primary announcement
Researcher notes: Southern's specific Tampa Bay brands were not identified in this pass.
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