MCAA member Harrell-Fish Inc. (HFI), a leading provider of mechanical installation and maintenance services, has announced a strategic partnership with New State Capital Partners (New State), a private investment firm based in New Rochelle, NY. This collaboration marks a significant milestone in HFI’s journey as it positions itself for accelerated growth and expanded market reach in the mechanical contracting sector.
Founded in 1985, HFI has grown to operate four regional offices, employ 700 professionals, and serve clients across twelve states. The company specializes in HVAC and plumbing solutions, with a strong focus on retrofit, renovation, and maintenance projects for commercial and institutional customers in healthcare, education, and other essential markets.
The majority investment by New State solidifies a shared vision for HFI’s future, emphasizing cultural alignment and a commitment to building an enduring, client-focused organization. HFI’s existing ownership and leadership teams will remain in place, ensuring continuity and stability as the company embarks on this new chapter.
“We are excited to partner with New State Capital Partners, whose collaborative approach and deep operating resources will help us enhance our systems, expand our service capabilities, and pursue new avenues for expansion,” said Steve Dawson, CEO of HFI and an MCAA Past President.
New State Capital Partners brings a proven track record in facility services investments, and their involvement is expected to drive both organic growth and strategic acquisitions for HFI. Shaun Vasavada, Senior Principal at New State, commented, “HFI is an established regional leader serving critical end markets, with a strong foundation for growth. We look forward to collaborating with the management team to drive continued success and accelerate growth in this sector.”
The transaction was supported by Amethyst Capital Group, LLC, an independent sponsor with expertise in infrastructure services investments. Advisory support for the deal was provided by Harris Williams LLC, Morgan, Lewis & Bockius LLP, GLC Advisors & Co., and Holland & Hart LLP.
As HFI celebrates its 40th anniversary, the company remains steadfast in its core values and commitment to clients and employees. The partnership with New State is expected to unlock new opportunities for geographic expansion throughout the Midwest and beyond, reinforcing HFI’s position as a market leader.
For more information about Harrell-Fish Inc., visit https://harrell-fish.com/. To learn more about New State Capital Partners, visit www.newstatecp.com.
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