Pulte Capital has sold Southern Air & Heat, a heating and air conditioning installation company that operates across the Southeastern U.S., to MSouth Equity Partners, an Atlanta based private equity fund, reports BUILDER sister publication Replacement Contractor.
"Southern Air was a highly successful investment for us, and we are thrilled to have selected MSouth Equity Partners as the company's partner going forward," said CEO of Pulte Capital Bull Pulte in a release.
"We are very excited about our investment in Southern Air & Heat, and appreciate that the Pulte organization has built such a strong and scalable platform," said MSouth Partner Charles Stubbs. "The Southern Air & Heat platform is an early consolidator in the coastal HVAC market, and we look forward to partnering with the management team in the Company's next phase of growth."
The terms of the deal were not disclosed, but MSouth reportedly provides capital for companies, "typically valued between $25 and $150 million."
See the original press release announcing the sale here.