has been acquired by
R.S. Andrews is a provider of HVAC, electrical, and plumbing installation and repair services.
Senior Team
R.S. Andrews
Type
M&A Sell-Side
Description
R.S. Andrews, the largest residential HVAC services company in Atlanta, engaged Croft & Bender to manage its exclusive sale process. Croft & Bender was responsible for valuing the company, identifying potential buyers, marketing the opportunity, and negotiating the transaction. They successfully generated multiple offers, leading to the sale of R.S. Andrews to Kansas City Power & Light, aiming to establish a platform for further acquisitions.
has been acquired by
R.S. Andrews is a provider of HVAC, electrical, and plumbing installation and repair services.
About
R.S. Andrews was the largest residential HVAC services company in Atlanta. In addition, the Company had built a recurring revenue stream through its home warranty and services contract product offerings.
Situation
During a period of increasing deregulation, the electric utility industry was seeking to diversify by acquiring related businesses. In addition, several public and private companies had established significant acquisition platforms that were being viewed favorably by the capital markets. R.S. Andrews engaged Croft & Bender to complete an exclusive sale process, which included valuing the Company, identifying potential acquirers, drafting the offering memorandum, marketing the Company, selecting a partner, and negotiating the transaction.
Result
Croft & Bender was successful in generating numerous offers to acquire RSA, and the Company eventually decided to sell to Kansas City Power & Light with the intention of establishing a platform for further acquisitions.