Charlesbank Capital Partners has acquired American Residential Services from CI Capital Partners and Royal Palm Capital Partners. Headquartered in Memphis, Tennessee, ARS operates a network of more than 60 locally managed branches in 21 states. ARS is led by former long-time TruGreen executives Don Karnes, chief executive officer, and Dave Slott, president & chief operating officer. Transaction Name . Key Team Members The company is dedicated to providing high-quality customer service, with an emphasis on highly skilled employees, state-of-the-art equipment, 24/7 service and a 100% money-back guarantee.
American Residential Services is a leading provider of heating and air conditioning (HVAC) and plumbing services nationwide. It operates under two well-known national brands, ARS and Rescue Rooter, as well as through trusted local brands in select markets.“We look forward to accelerating the growth of our business with new capital and are excited to be working with Charlesbank for the next stage of our development,” said Don Karnes, Chief Executive Officer of ARS.“CI Capital Partners has been an excellent partner since we acquired ARS together and, with their backing, we significantly improved the company’s profitability and completed over 20 acquisitions. Both executives have 32 years of consumer service industry experience. Charlesbank purchased the company from CI Capital Partners and its co-investor, Royal Palm Capital Partners, along with the existing management team, who made a significant co-investment in the transaction. Today, we are well-positioned to invest in our branches, provide outstanding customer service, and continue our strategy of acquisitions in this highly fragmented industry, while benefiting from Charlesbank’s support as we continue to build the business,” added David Slott, President & Chief Operating Officer of ARS.Mr. American Residential Services is a leading provider of heating and air conditioning (HVAC) and plumbing services nationwide. It operates under two well-known national brands, ARS and Rescue Rooter, as well as through trusted local brands in select markets.In 2014, Charlesbank acquired ARS in partnership with management.Charlesbank Capital Partners announced today that it has acquired American Residential Services (ARS), a leading provider of heating and air… Related News Additional Industrial Portfolio Companies On May 6, 2014, private equity firm Charlesbank Capital Partners acquired consumer services company American Residential Services LLC from Royal Palm Capital Partners, CI Capital Partners LLC and BlackRock Capital Investment Corporation Acquisition Highlights. Charlesbank Capital Partners announced today that it has acquired American Residential Services (ARS), a leading provider of heating and air conditioning (HVAC) and plumbing services nationwide. Providing elevated service and ensuring the highest standards of quality, ARS has the experience to do any job right – the first time, with all work fully guaranteed. Headquartered in Memphis, Tennessee, ARS operates a network of more than 60 locally managed branches in 21 states. Karnes is a consumer services industry veteran who has been at the helm of ARS since 2006, serving alongside Mr. Slott.
ARS employs many former TruGreen managers. This transaction marks the end of a rewarding investment for us, and we wish ARS every success as it begins its next chapter.”Berenson & Company and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised ARS for this transaction. Charlesbank Capital Partners announced today that it has acquired American Residential Services (ARS), a leading provider of heating and air conditioning (HVAC) and plumbing services nationwide. No financial terms … Charlesbank Capital Partners has acquired Memphis-based American Residential Services LLC (ARS). United by exceptional service, the ARS network serves both residential and light commercial customers through a knowledgeable team of trained specialists. Memphis-based Metronome Partners, RBC Capital Markets and Goodwin Procter LLP advised Charlesbank.ARS operates a network of more than 60 company-operated, locally managed service locations spanning 21 states.
American Residential Services (ARS) is a United States network of plumbing, and home and commercial heating and air conditioning businesses, operating under the trade name ARS/Rescue Rooter.The trade name came from the acquisition and merging of ARS and Rescue Rooter by their then-parent company ServiceMaster.They have locations in 24 states.