NEW YORK, NY – June 9, 2021 – Gil-Bar Industries (“Gil-Bar”), a leading provider of heating, ventilation and air condition solutions and services in the US, today announced that it has received a strategic investment from Intermediate Capital Group (“ICG”). ICG will work in partnership with Gil-Bar’s management team to support the firm’s growth initiatives. Financial terms of the transaction have not been disclosed.
“We are very pleased to partner with ICG as we move into the next phase of Gil-Bar’s evolution,” said Joe Sbarra, founding Partner, Gil-Bar. “Having co-founded the business in 1986, I am proud of what we have accomplished to date. Gil-Bar is well-positioned for the future, and with ICG’s capital and experience, I am excited about what we can achieve together.”
Since inception 35 years ago, Gil-Bar has become a leading HVAC solutions provider in the New York metropolitan area, offering integrated services from design and engineering consultation through to completion and installation, as well as certification and maintenance. Gil-Bar’s high-level expertise, complex service capabilities and uncompromising ethics and client service has enabled the firm to build deep relationships with both customers and suppliers.
Gil-Bar partners with building developers, architects, engineers and contractors to help design, install, problem-solve and service HVAC solutions for commercial, institutional, healthcare, life sciences and residential buildings.
“We believe there are multiple avenues for Gil-Bar’s continued growth as we expand our service and solution offerings and build our footprint both organically and through acquisitions,” added Chris Bisaccia, Partner, Gil-Bar. “We selected ICG as our partner because they share our vision for the future and have the resources and experience to help us succeed.”
“We are delighted to announce our investment in Gil-Bar,” said Uzair Dossani and Evan Eason, both Managing Directors at ICG. “Gil-Bar has the key hallmarks we look for in an investment opportunity: a market leader with an excellent management team and significant runway for growth. We are excited to partner with Joe Sbarra, Chris Bisaccia, Joe Cohen, Ken Corio, and the rest of the Gil-Bar team.”
Founded in 1986, Gil-Bar has become the largest and most comprehensive provider of HVAC solutions in New York, New Jersey, and Pennsylvania, sources for the firm report. Gil-Bar partners with building developers, architects, engineers and contractors to help design, install, problem-solve and service HVAC solutions for commercial, institutional, healthcare, life sciences and residential buildings. Gil-Bar has a team of more than 60 degreed sales engineers and works with over 40 equipment manufacturers. Gil-Bar delivers on more than 5,200 projects per year, with more than 85 percent of its business coming from repeat clients.
Contracting Business recently published this article on Gil-Bar's activity in offering indoor air quality solutions before, during and following the days of the COVID-19 pandemic.
