October 7, 2021
NEW YORK–(BUSINESS WIRE)–Delos Capital (“Delos”), a private equity firm based in New York, announced the formation of MechanAir LLC (“MechanAir” or the “Company”), a platform consisting of commercial HVAC/mechanical and plumbing contractors with regional, industry, and technology differentiation across the Midwest and East Coast.
MechanAir’s anchor acquisitions include State Mechanical Services, LLC (“SMS”) based in Aurora, IL, and Hampton Roads Mechanical of Virginia, LLC (“HRMVA”) based in Chesapeake, Virginia. 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 (“Amalgam”), an independent sponsor, comprised of a team experienced in integrating and scaling HVAC businesses.
“We are excited to partner with these great leaders and the Amalgam team to establish the platform; we look forward to growing the footprint of the business both organically and through future acquisitions,” said Will DeBruyn, Partner at Delos Capital.
Arun Shukla, Managing Director at Amalgam, added, “I am looking forward to working closely with John, Greg, and future HVAC partners to grow MechanAir into a national leader – as a one-stop-shop for clients across various geographies. I am confident that with Delos Capital as our partner, the Company is poised to quickly realize that goal.”
John D’Angelo, MechanAir’s Chief Executive Officer, stated, “I am thrilled about the opportunity to partner with Delos, Amalgam, and the folks on both business teams to grow our operations while continuing to deliver the great service we have always delivered for our clients.”
Gregory Shaw stated, “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.”
About Delos Capital
Delos Capital, founded in 2013, is a lower middle-market private equity firm specializing in management buyouts, recapitalizations, and growth investments.
About Amalgam Capital
Amalgam Capital, founded in 2020, is an independent sponsor comprising a multidisciplinary team of investors, entrepreneurs, and operators.