ACS, A PORTFOLIO COMPANY OF HIDDEN HARBOR CAPITAL PARTNERS, PARTNERS WITH TRI-CITY AIR CONDITIONING CO.

Covington, Georgia, November  28, 2023 – Air Conditioning Specialist, Inc., (“ACS”), a Hidden Harbor Capital Partners (“HHCP”) portfolio company that provides Heating, Ventilation, & Air Conditioning (“HVAC”) and plumbing services, today announced its acquisition of   Tri-City Air Conditioning Co. (“Tri-City”).

Headquartered in Johnson City, TN, Tri-City is one of the most well-respected providers of HVAC services in Tennessee, primarily serving residential and light commercial customers in the Tri-Cities region in TN since 1969. Tri-City has a long reputation of prioritizing quality and customer service, which has resulted in significant repeat business and exceptional customer relationships.

“We look forward to strengthening our footprint in Tennessee. This partnership will grow our service capabilities, and allow us to continue to provide outstanding quality and customer service to existing ACS and Tri-City customers. Angela has built a strong business and we are thrilled to be partnering with her for the next stage of growth as we continue to expand throughout the Southeast”, said Pat Hayes, President of ACS.

Angela Rhoten of Tri-City said, “Our employees and our customers have always been the top priorities at Tri-City. ACS is a terrific cultural fit, and I am excited to continue to lead Tri-City as we continue to serve the Tri-Cities region and broader Tennessee market.”

Kilpatrick Townsend & Stockton served as legal advisor to HHCP. Capital Southwest and funds managed by First Eagle Alternative Credit provided financing for the transaction. JGH Advisory originated the transaction and served as sell-side advisor to Tri-City. Scott Powers of Hunter, Smith & Davis served as legal advisor to Tri-City.

About Air Conditioning Specialist, Inc.

Air Conditioning Specialist, Inc. is a 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 $800 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