Capstone Headwaters announced that it has successfully advised Mai Mechanical, Corp. (the "Company") on its acquisition by J.R. Hobbs, a portfolio company of Gladstone Investment Corporation. The terms of the transaction were not disclosed.
Mai Mechanical is a leading mechanical contractor providing plumbing and HVAC installation, maintenance and service solutions to the multi‐family, commercial and senior living markets. For nearly four decades, Mai Mechanical has developed a reputation for unmatched industry expertise, quality work and timely completion of projects for many of the Nation’s top developers. Mai Mechanical is an industry pioneer, horizontally integrating multiple services including plumbing and hydronic heat, HVAC ductwork, chilled water and mechanical piping and complete mechanical systems.
Headquartered in Lawrenceville, GA, J.R. Hobbs is a leading mechanical solutions company providing design-build HVAC systems and services for multi-family and commercial properties in the Southeast region of the United States. With operations in eleven states across the Southeastern U.S., J.R. Hobbs is quickly becoming one of the largest mechanical contractors in the nation.
John Mai, CEO & Founder, Mai Mechanical, commented
"There were challenges along the way and the transaction process strained our management team but Capstone Headwaters’ ability to understand our business and navigate through each challenge was invaluable to closing this transaction"
Dave Harper, CEO of J.R. Hobbs said
"We’re extremely excited to partner with the team at Mai Mechanical. For over 40 years, Mai Mechanical has serviced its customers with high-quality plumbing and mechanical solutions. We look forward to preserving Mai Mechanical’s legacy and building on the growth they’ve achieved over the past several years."
Darin Good, Managing Director for Capstone Headwaters’ Building Products and Construction Services Team, added
“Mai Mechanical is the leading mechanical contractor to the multi-family construction industry in its region. We greatly enjoyed working with the Mai team and are optimistic about the future under J.R. Hobbs’ leadership.”