The Stephens Group, LLC Announces Sale of Summit Industrial Construction, LLC
February 05, 2024 at 07:42 am EST
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LITTLE ROCK - The Stephens Group, LLC ('The Stephens Group') today announced that it has closed its previously announced sale of Summit Industrial Construction, LLC ('Summit') headquartered in Houston, Texas, to Comfort Systems USA, Inc. (NYSE: FIX) ('Comfort Systems').
Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit's capabilities encompass a wide range of modular and site-based construction including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world's largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects.
'We are pleased to announce the closing of our sale of Summit. We enjoyed a successful, 13-year partnership with Jeff Johnson and his team. We are thrilled about the transaction and look forward to watching Summit's continued success under Comfort Systems,' said Witt Stephens, CEO and Co-Chairman of The Stephens Group.
Brian Lane, CEO and President of Comfort Systems, added, '[w]e enthusiastically chose Summit because of its amazing workforce and culture, which is a direct result not only of its committed and field-focused leadership, but also of more than a decade of people-first stewardship by The Stephens Group.'
ABOUT THE STEPHENS GROUP, LLC
The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens, Jr. and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With over $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in over 50 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, technology infrastructure, and vertical software.
Comfort Systems USA, Inc. provides mechanical and electrical contracting services. The Company operates through two segments: Mechanical and Electrical. The Mechanical segment principally includes heating, ventilation and air conditioning (HVAC), plumbing, piping and controls, as well as off-site construction, monitoring and fire protection. This segment also installs connecting and distribution elements, such as piping and ducting. The Electrical segment includes installation and servicing of electrical systems. The Company builds, installs, maintains, repairs and replaces mechanical, electrical and plumbing (MEP) systems throughout its approximately 44 operating units at 172 locations across the United States. It is also engaged in offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power and industrial sectors. It also provides mechanical construction services to the commercial and industrial sectors.
COMFORT SYSTEMS USA, INC. 
