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ACS, A PORTFOLIO COMPANY OF HIDDEN HARBOR CAPITAL PARTNERS, MAKES INVESTMENTS IN P-F PLUMBING AND PRECISION AIR

Covington, Georgia, January 18, 2023 – Air Conditioning Specialist, Inc., (“ACS”), a Hidden Harbor Capital Partners portfolio company that provides Heating, Ventilation, & Air Conditioning (“HVAC”) and Plumbing installation and services, today announced its investments in P-F Plumbing Contractors, Inc. (“P-F Plumbing”) and Precision Air, Inc. (“Precision Air”), strengthening ACS’s position in Tennessee, expanding its geography to North Carolina, and significantly expanding its plumbing capabilities.

Headquartered in Winston-Salem, North Carolina, P-F Plumbing is a market leading provider of plumbing services, serving both residential and light commercial customers. Precision Air is headquartered in Murfreesboro, Tennessee, and provides both geothermal and conventional HVAC services to customers throughout Middle Tennessee.

Paul Freer of P-F Plumbing said, “I focused on choosing a partner that shared our core values and put its customers and employees first. By choosing to partner with ACS, I know that we will be able to retain our core values and invest in new opportunities to deliver best in class service to our customers.”

Tony LaFrenier of Precision Air said, “We are thrilled to partner with a team that shares our culture and values. Together, we will be able to elevate the top-quality service and support we proudly give to all our customers, and we are confident that this partnership will lead to new opportunities for our employees.”

“We are very excited about the partnerships with P-F Plumbing and Precision Air. Paul and Tony have both built strong businesses and we are happy to be partnering with them for their next stage of growth as we continue to expand throughout the southeast,” said Pat Hayes, President of ACS.

Kilpatrick Townsend & Stockton served as legal advisor to Hidden Harbor Capital Partners. Capital Southwest provided financing for the transaction. Pineland Capital Partners served as a buyside advisor to HHCP. Bell Davis Pitt served as legal advisor to P-F Plumbing. Bradley Arant Boult Cummings served as legal advisor for Precision Air.

About Air Conditioning Specialist, Inc.

Air Conditioning Specialist, Inc. is a regional leader in the Heating, Ventilation, & Air Conditioning (“HVAC”) and Plumbing focused on the residential and commercial sectors in Georgia. ACS customers have the advantage of dealing with highly trained and specialized staff that provide complete HVAC and plumbing sales, engineering, installation, and service. Founded over 50 years ago, we provide 100% satisfaction guarantee and offer emergency services, same-day appointments, two-hour response times, and dedicated call center. For more information, visit https://www.theairconditioningspecialist.com/

About Hidden Harbor Capital Partners

Hidden Harbor Capital Partners is a private equity firm which helps create business success stories by building teams focused on execution. We believe that great companies are built on a strong group of people as their foundation, and that businesses succeed when they are intensely focused on executing a small set of well-defined objectives. Hidden Harbor currently manages over $700 million of equity capital and is investing out of its second fund, a $450 million vehicle. To learn more, visit www.hh-cp.com and our page on LinkedIn.

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Media Contact

Julia Bennett: (904) 534-4468 / jbennett@hh-cp.com