Climate Efficiency Partners, LLC (“CEP”), a leading provider of commercial & industrial (“C&I”) HVAC and energy efficiency services, is pleased to announce it has acquired Tri-Tech Energy of Boonton, NJ with the ongoing support of 424 Capital.
In business for more than 35 years, Tri-Tech Energy provides HVAC preventative maintenance, 24/7 service/repair, and design/build installation services, including replacements, retrofits, and energy efficiency upgrades to its C&I customer base primarily in northern and central New Jersey.
The acquisition significantly increases CEP’s C&I customer base and in-house capacity to provide HVAC and energy efficiency services in the Mid-Atlantic region, building on its acquisitions of Diversified Refrigeration in Pennsylvania and East Coast Plumbing & HVAC in Delaware.
“Climate Efficiency Partners has initially focused on building our C&I customer base and capacity to provide HVAC and energy efficiency services in the strategically significant Mid-Atlantic region, where more than five million C&I buildings are located. The acquisition of Tri-Tech Energy adds several hundred C&I buildings to our service base in the Mid-Atlantic region and adds the capacity to better serve customers in northern and central New Jersey. Tri-Tech Energy has a long history of providing high quality services to its customers and is a trusted partner in the region, which aligns well with CEP’s strategy of maintaining long-term customer relationships by providing exceptional HVAC services and collaborating with our customers to reduce operating costs and energy consumption at their facilities,” said Sprague Cook, President & CEO of Climate Efficiency Partners.
“Tri-Tech Energy is excited to join the CEP team to participate in and contribute to CEP’s HVAC service best practices program and expand our capacity to provide energy efficiency services to our customers,” said Michael Tartaglia, President and founder of Tri-Tech Energy.
“424 Capital invests in tech enabled service businesses that are participating in megatrends, including the trend toward higher energy efficiency in C&I buildings. We are pleased to be backing CEP and continuing to support CEP’s growth in this sector,” said Brian Kelly, a Principal at 424 Capital.
SF&P Advisors represented Tri-Tech Energy in the sale to Climate Efficiency Partners.
