TrueNorth serves as M&A Advisor to Granite Comfort, a portfolio company of Tiger Infrastructure Partners, on the acquisition of T.E. Spall & Son
Stamford, CT, November 30, 2021: TrueNorth Capital Partners LLC is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as M&A advisor to Granite Comfort LP (“Granite Comfort” or the “Company”), a leading residential HVAC and plumbing investment company and a portfolio company of Tiger Infrastructure Partners, on its acquisition of T.E. Spall & Son (“T.E. Spall”).
T.E. Spall is a residential and commercial HVAC company serving Scranton, Pennsylvania and the surrounding area. T.E. Spall is Granite Comfort’s second partnership in Pennsylvania in the last twelve months, joining West Chester-based Signature HVAC. T.E. Spall will join Raleigh-based Air Experts, Dallas-based Frymire Home Services, Philadelphia-based Signature HVAC, Chicago-based Green Air Care and Dallas-based Strittmatter as the sixth member of the Granite Comfort organization.
T.E. Spall is a professional heating and cooling company specializing in residential and commercial service, installation and maintenance of air conditioners, furnaces and plumbing. T.E. Spall was founded in 1985 by Thomas and James Spall in Carbondale, Pennsylvania, and has continued to be locally owned and operated.
Granite Comfort invests in and partners with leading residential HVAC and plumbing businesses by deploying a unique leasing strategy called EASE Comfort®. EASE Comfort allows customers to lease energy-efficient HVAC systems under long-term agreements, providing residential energy infrastructure-as-a-service at no upfront cost to the customer. Granite Comfort, founded in 2019 by industry veteran Alex Black and Tiger Infrastructure Partners, has completed three partnership acquisitions in the last six months (including T.E. Spall) and now operates in Chicago, Dallas, Philadelphia, Raleigh and Scranton. Granite Comfort’s partners continue to operate under their respective brands.
“The partnership with T.E. Spall expands Granite Comfort’s footprint in Pennsylvania,” said Alex Black. “We are excited to partner with T.E. Spall, a strong business that focuses on excellence in customer service and giving back to its community. T.E. Spall has demonstrated impressive organic growth and now serves Lackawanna, Luzerne, Monroe, Pike, Susquehanna, Wayne and Wyoming counties. Tom and his team join the Granite Comfort team as we continue to grow.”
Tom Spall, President of T.E. Spall, said: “We are thrilled to be partnering with Granite Comfort. Granite is in direct alignment with our core value of innovation and has a similar focus on employee training and customer satisfaction. The unique EASE Comfort lease products will enable us to provide our customers with the most all-inclusive HVAC replacement options in the industry.” Mr. Spall will continue in his current position as President of T.E. Spall.
David Reilly, Managing Director of TrueNorth, led the TrueNorth team of M&A advisors to Granite Comfort.
Any further inquiries can be directed to TrueNorth at the contact information provided below:
David Reilly, Managing Director
Direct Dial: (203) 817-0282
About TrueNorth Capital Partners LLC:
TrueNorth provides advisory services to companies seeking advice for middle-market M&A and financing transactions. With offices in Stamford CT, Charleston SC, Central, NJ, Naples, FL, Minneapolis, MN, Kansas City, KS and London, UK, TrueNorth is a boutique investment bank comprised of senior bankers providing a full complement of financial advisory services. Our focus on the middle-market enables us to provide independent, value-added advisory services to privately held middle-market companies, private equity and family office groups and corporate clients, both domestic and international, across a broad range of industries. TrueNorth conducts its securities related business through its wholly owned subsidiary, TNCP, LLC, member FINRA/SIPC.
About Scout Valuations LLC:
Scout Valuations, a wholly owned subsidiary of TrueNorth, is fully dedicated to business valuation. We provide thorough, independent valuation analyses together with superior client service and responsiveness. Our analyses combine a detailed understanding of the business, industry and economic context, with the insight to address complex valuation issues regarding your business.