PCE Executes ESOP Transaction for Energy Air

Winter Park, FL – (August 5, 2014) – PCE Investment Bankers is pleased to announce that the shareholders of Energy Air, Inc., a leading heating, ventilation and air conditioning (HVAC) contractor have completed the sale of their stock to the Energy Air, Inc. ESOP Trust.

Energy Air, an Orlando, FL based company offers an array of installation, maintenance and service solutions to commercial and residential customers in the Southeast United States, and is ranked as one of the Top Specialty Contractors in the Southeast by ENR.  For nearly four decades, the privately owned firm has earned a reputation for its highly trained and specialized workforce with unrivaled industry experience. The company is well regarded for the breadth and depth of veteran talent with an unsurpassed level of employee development through the company’s in-house training program.

The same highly trained workforce will reap the benefits of the ESOP as they receive share allocations and experience a sense of ownership that comes with being part of an ESOP owned company.

Chuck Kulp, the team leader of Energy Air, added “Our family has worked hard with the employees to build Energy Air and we are happy that they will be the future owners.  We couldn’t imagine anyone else owning the company and look forward to its continued success under employee ownership.”

Will Stewart, Partner and leader of PCE’s ESOP practice commented “It was an honor to work with the Kulp family in the transition of the company to employee ownership.  Their commitment to the employees was evident from the beginning of our work together, and the completion of this transaction reaffirms that.  We look forward to a continuing relationship with Energy Air for years to come.”

About Energy Air, Inc.: Started in 1976, Energy Air is a one-stop, full-service firm that integrates every aspect of the client’s needs from pre-construction planning, through fabrication, installation and ongoing planned maintenance and service.  Energy Air employs nearly 300 HVAC specialists and serves commercial and residential customers throughout the southeast United States.  Offices in Orlando and Plant City.

If you have comments or questions about this article, or would like more information on this subject matter, please contact us.
Will Stewart

Investment Banking | ESOP
wstewart@pcecompanies.com
Orlando Office

407-621-2100 (main)
407-621-2124 (direct)
407-621-2199 (fax)