The transaction represents a highly successful exit from DCA Fund III
Roseville, CA (January 11, 2023) – DCA Partners (“DCA”), the region’s leading private equity firm, is pleased to announce that its portfolio company, Indoor Environmental Services (“IES”), has been acquired by Service Logic.
Stan Butts and DCA acquired IES as a carveout from SitelogIQ, a national energy services company, and refocused on its original core commercial mechanical HVAC business. Mr. Butts, who previously owned IES with his brother, stepped back in as the CEO.
“I appreciate DCA’s assistance and support in bringing the IES legacy back,” commented Butts. “I am excited to partner with Service Logic now, as we will remain IES, but will have the backing and support of a large, nationwide commercial HVAC and mechanical services company to drive additional value for our customers,” Butts continued.
Mr. Butts will remain as an Advisor, Jason Sanders, President, and John Anderson, CFO, and the rest of the IES management employees will continue to operate the business with the same level of dedication to its loyal customers.
“We are pleased that we were able to get a great outcome for our investors while positioning IES for continued success,” said Craig Mitchell, DCA Partner.
IES is the first exit from DCA Capital Partners III, LP, which has three other portfolio companies and expects to make several additional investments over the next two years.
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About DCA Partners
DCA Partners provides capital to growth-oriented, middle-market businesses in under-served markets 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.
About IES
IES is a full-service mechanical contractor involved in the design, construction, service and maintenance of HVAC and refrigeration systems for commercial and industrial facilities. IES is headquartered in Sacramento, CA and covers the Central Valley, North Coast, and East Bay.
Contact
Barbara Urbani
Director of Marketing & Administration
DCA Partners
https://dcapartners.com/wp-content/uploads/2023/01/DCA-Service-Logic-Acquires-IES-2023.01.11.pdf