NEW YORK, NY -- Delos Capital, a private equity firm based in New York, announced the formation of MechanAir LLC, a platform consisting of commercial heating, ventilation, air conditioning and mechanical and plumbing contractors with regional, industry, and technology differentiation across the Midwest and East Coast.
“This is the start of an exciting journey for the HRMVA team and I am eagerly anticipating working together with everyone else at MechanAir to expand the business and seek out additional partners through future acquisitions.”
MechanAir’s anchor acquisitions include State Mechanical Services, LLC, Aurora, Ill., and Hampton Roads Mechanical of Virginia, LLC, based in Chesapeake, Va. Both businesses will continue as regional divisions of MechanAir.
The experienced teams at SMS led by John D’Angelo and Gregory Shaw of HRMVA have a strong track record of delivering design/engineering services; complex mechanical/HVAC/plumbing construction build projects; and maintenance services for a range of clients, including Amazon, Nobu Hotels, and NASA. John D’Angelo, who has headed SMS for the past 16 years, will lead as CEO of MechanAir. Gregory Shaw, who has headed HRMVA for the past 11 years, will lead as the CEO of HRMVA.
Delos partnered with Amalgam Capital, an independent sponsor, comprised of a team experienced in integrating and scaling HVAC businesses.
Delos Capital, founded in 2013, is a lower middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments.
Amalgam Capital, founded in 2020, is an independent sponsor comprising a multidisciplinary team of investors, entrepreneurs, and operators.