Horizon Services, based near Wilmington, completed the acquisition of Gold Medal Service and Casteel Heating & Cooling. The companies are based in northern New Jersey and the Atlanta area.
The acquisitions are the first since Horizon was acquired from an affiliate of private equity firm Sun Capital Partners, Inc. in March. Terms of the most recent transactions were not disclosed.
“We are incredibly excited to welcome Gold Medal and Casteel to the Horizon Services family,” said Mark Aitken, Co-CEO of Horizon Services. “Expanding through the strategic acquisition of these great businesses is the perfect example of why we brought on Sun Capital as our financial partner. Their expertise and resources helped us to complete these transactions efficiently, and we now expect to benefit from Sun’s experience as we integrate the companies.”
Becoming part of Horizon will provide both businesses with financial resources to hire additional personnel, as well as better training programs that will enable Gold Medal and Casteel to deepen and broaden their customer relationships, a release stated.
“Both Gold Medal and Horizon have strong reputations in New Jersey,” said Mike Agugliaro, co-founder of Gold Medal Service. “Combining can only enhance the capabilities and the service we each deliver to our customers, and it makes us the strongest plumbing, HVAC and electrical provider in New Jersey.”
With the two acquisitions, Horizon now operates in six states and has more than 900 employees. Both Gold Medal and Casteel will continue to operate under their existing brands.
“Casteel has done very well in the Atlanta market, and now we are excited to not only become part of something bigger, but to apply the best practices of Horizon to bring our professionals greater resources and deliver even more value to our customers,” said John Hillis, Founder of Casteel Heating & Cooling.
Horizon Services has more than 650 full-time employees and more than 400 service vehicles in its core business, and more than 250 employees in its affiliated companies.
For more information, please visit www.horizonservicesinc.com.
Sun Capital Partners is a global private equity firm. Its holdings include consumer products and services, food and beverage, industrial, packaging, chemicals, building products, automotive, restaurant and retail sectors.
Since 1995, Sun Capital has invested in more than 345 companies worldwide with revenues in excess of $45 billion.