Partners with former owner to acquire the business
Roseville, CA – DCA Partners (“DCA”), the region’s leading private equity firm, is thrilled to announce its investment in Indoor Environmental Services (IES), a Sacramento-based commercial mechanical HVAC company.
DCA’s affiliated investment bank previously assisted former IES owner, Stan Butts, and his brother, Charlie Butts, in their sale of IES to Oaktree Capital Management in 2017. IES was subsequently combined with SiteLogIQ, a national energy services company that was later sold to AEA Investors. Stan Butts partnered with DCA to re-acquire the mechanical HVAC business from SiteLogIQ and will operate the business under the original IES name.
SiteLogIQ retained the energy business, but IES will be the exclusive mechanical HVAC subcontractor on their energy projects for municipalities, universities, schools, and hospitals (“MUSH”) in covered areas in Northern California. “The post-closing partnership was key given the long history of providing comprehensive energy and HVAC solutions in the MUSH sector in the region,” said Joe Puishys, SiteLogiQ CEO.
“We have always been extremely impressed with the business Stan and Charlie built and are excited to partner with Stan and continue to build the IES legacy,” commented Craig Mitchell, Partner at DCA.
Several former employees are returning to IES, including Jason Saunders, General Manager, and Andrew Gerhard, Director of HR and Safety. Butts stated, “I am glad to be back and energized by the team’s excitement with the return to the IES brand and renewed focus on our original core mechanical HVAC business. Our loyal customers are sure to be satisfied with the team’s level of dedication and hard work.”
About DCA Partners
Based in Roseville, DCA Partners provides capital to growth-oriented, middle-market businesses in under-served communities across California and other western states. DCA partners with top-quality owners and management teams, providing the capital and expertise needed to successfully expand their businesses.
Indoor Environmental Services (IES) provides full-service commercial mechanical HVAC installation and maintenance. IES is headquartered in Sacramento, CA and covers the Central Valley, North Coast, and Bay Area.
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