Stamford, CT – September 14, 2023: TrueNorth Capital Partners LLC is pleased to announce that its wholly-owned subsidiary, TNCP, LLC (“TrueNorth”) acted as exclusive M&A advisor to The Eugene Steinberg Company (“TESCO” or the “Company”), on its sale to Air Temp, a portfolio company of Anvil Capital.

Founded in 1964 by Eugene Steinberg, TESCO was purchased by industry veteran Bruce Robbin in 2005. The Company is a leading commercial HVAC and plumbing design, installation and service company in the greater Hartford region. Bruce Robbin, President of TESCO, said “I look forward to joining the Air Temp platform, and in particular adding our plumbing team while leveraging their inhouse sheet metal and controls capabilities. This transaction also allows me to focus more of my time on designing and managing plumbing and HVAC projects instead of being burdened by the day-to-day tasks of running a business.”

Ben Giess, Managing Partner of Anvil Capital, said “TESCO represents our fourth acquisition under the Air Temp platform, and we have now almost quintupled Air Temp since our initial investment. We will continue to pursue additional strategic acquisitions to accelerate Air Temp’s growth in the future.”

Jeff Leone, CEO of Air Temp, stated “I’ve known Bruce and TESCO for many years, and we’re delighted to acquire such a well-respected organization. I look forward to adding plumbing as an additional core competency to the Air Temp platform and being able to provide a true one-stop shop to all of our commercial customers.”

Air Temp is a full-service commercial HVAC and plumbing company with an emphasis on design build, service, maintenance, controls, retrofits, replacements and energy management systems. The Company focuses on customers in the corporate, education and government sectors within the Connecticut market. Air Temp has the capabilities to service and maintain large tonnage chillers, rooftops, ductless VRV/VRF systems, mission critical data centers, EMS control systems, and industrial boilers and burners.

Anvil Capital is an operationally and entrepreneurially focused private equity firm that invests in small, high potential niche manufacturing and service companies located in the Northeastern United States. The partners have a unique combination of strategic, operational and financial expertise obtained through decades of experience working with small and mid-sized businesses. Anvil Capital works closely with its portfolio companies to establish the necessary infrastructure and resources to support the growth and strategic directives of the business.

David Reilly, Managing Director at TrueNorth, led the TrueNorth team on the transaction.

Mr. Reilly commented: “TESCO has a long history of providing excellent service to its commercial customers and is a perfect complement to Air Temp’s strategic growth plans. It was our privilege to help Mr. Robbin achieve his objectives.”

Mr. Robbin added: “I was very fortunate to have TrueNorth in my corner, as they advised and helped me navigate through an intense and dynamic process and was instrumental in helping me achieve my objectives. Dave and his team provided around-the-clock support and senior-level attention at all times. Combined with their depth of knowledge and M&A experience in our industry, TrueNorth’s financial, deal-structuring and negotiating expertise, objective advice and unwavering commitment enabled us to drive to a closing with an ideal partner in Air Temp.”

Barry Feigenbaum of Rogin Nassau LLC served as TESCO’s primary legal advisor on the transaction.

Inquiries about the transaction can be directed to TrueNorth at the contact information provided below:

David Reilly, Managing Director
Stamford Office
Phone: (203) 817-0282
E-mail: [email protected]

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, Tokyo, Japan 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:

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.

About Rogin Nassau LLC:

Rogin Nassau is located in Hartford, Connecticut and specializes in representing companies and entrepreneurs in variety of industries including manufacturing, real estate development, construction, retail, health care, banking and services. The firm has expertise in a wide range of areas including commercial transactions, real estate, litigation, creditors rights, lending and trust and estates. Established in 1948, lawyers from Rogin Nassau represent clients throughout Connecticut and the Northeast.