Cleveland, OH, November 1, 2019 – Carleton McKenna & Co. (CM&Co.) acted as exclusive financial advisor to Service-Tech Corporation (“STC”) and its owner Al Sutton, in the Company’s sale to Pittsburgh, Pennsylvania-based GT Entrepreneurs (“GTE”). Gabriel Chick, Operator-in-Residence at GTE will be moving to Cleveland and assuming the role of President with support of the previous owner. GTE has hired all existing employees and plans to provide the same service and products. The acquisition price was not disclosed.
Founded in 1960, STC specializes in complete heating ventilation and air conditioning (HVAC) cleaning and industrial cleaning. The Company’s services include: cleaning air ducts, food service equipment and exhaust systems, overhead cleaning (removal of combustible dust) and painting, oven cleaning and fire damper inspections. The STC team serves a variety of industries and facilities throughout the region, with its corporate headquarters in Cleveland and a regional office in Columbus.
The CM&Co. team represented STC as the Company’s exclusive financial advisor, providing sell-side merger and acquisition advisory services to the Company. Seller, Al Sutton, said “The team at Carleton McKenna ran a highly efficient, transparent, and effective process, helping me pass my family business to the next iteration of leadership. The Service-Tech team is excited to work with GT Entrepreneurs as we continue to grow, providing quality service as promised by our longstanding reputation.”
About Carleton McKenna & Co.
For more than thirty years, Carleton McKenna & Co. and predecessor firms have provided merger and acquisition advisory, capital raising and pre-transition advisory services for small to mid-cap regional clients – both public and private – with expertise across a broad array of industries. For further information about Carleton McKenna & Co., please visit www.carletonmckenna.com.
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About GT Entrepreneurs.
GT Entrepreneurs (GTE) is a private investment firm that works with entrepreneurial Operators-in-Residence (OIR) looking to individually acquire, operate, and grow privately held businesses. GTE offers business owners a unique transition opportunity. Our entrepreneurs are ready to step into the ownership role and create long-term value for the company, while preserving the legacy that has been built. For more information, visit https://www.gtentrepreneurs.com.