Comfort Expands Footprint to Philadelphia With Acquisition
of Signature HVACR and the greater community.
Tiger Infrastructure Partners ("Tiger Infrastructure")
announced today that its portfolio company,
Comfort ("Granite" or the "Company"), has acquired
Signature HVACR ("Signature"). Signature is a residential HVAC
company that serves the Philadelphia metropolitan area.
Signature will join Raleigh-based Air Experts and Dallas-based
Frymire Home Services as a member of the Granite Comfort
Comfort is a platform company that invests in and partners with
leading residential HVAC and plumbing businesses. The Company
was formed in 2019 by Tiger Infrastructure Partners, a private
equity firm that invests in growing infrastructure platforms.
Since Tiger Infrastructure's initial investment, Granite Comfort
has completed three acquisitions and now operates in Dallas,
Philadelphia and Raleigh. Granite Comfort's partners continue to
operate under their respective brands.
Granite Comfort is led by CEO Alex Black, an industry veteran
with over a decade of sector experience. Mr. Black was
previously the Lead Director of Reliance Home Comfort, a
Canadian residential HVAC company that executed a long-term
residential HVAC lease strategy. Mr. Black also served as head
of portfolio management for Alinda Capital Partners.
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supports the growth of its partner companies by (i) implementing
best practices across its brands to serve the essential HVAC and
plumbing needs of its customers and (ii) investing in a unique
rental strategy where Granite leases energy efficient HVAC systems
to customers under long-term rental agreements, providing
residential energy infrastructure-as-a-service at no upfront cost to
Granite Comfort's latest acquisition, Signature, provides HVAC
services to residential customers in Western Philadelphia. Signature
has been locally owned and operated for over a decade by Bob Gress,
who has spent nearly his entire career as an entrepreneur in the
HVAC industry. "The acquisition of Signature expands Granite
Comfort's footprint into another growing geographic market" said Mr.
Black. "We have been searching for the right partners and are
excited to welcome Bob and the Signature team to the Granite Comfort
team as we continue to grow our platform. Signature has a strong
customer service track record and an excellent reputation that will
complement Granite's existing HVAC companies." Mr. Gress will
continue as President of Signature following the acquisition by
Marc Blair, Managing Director of Tiger Infrastructure, said: "We
continue to see substantial opportunity to grow the Granite Comfort
platform into a national provider of essential residential energy
infrastructure. Residential HVAC is a fragmented market, and we
believe Granite Comfort is an attractive platform for owners seeking
a growth partner."
Mr. Gress added: "We are excited to partner with Granite Comfort in
our next phase of growth and to introduce EASE Comfort® lease
products to our market."
Baker McKenzie acted as legal counsel to Tiger Infrastructure and
Granite Comfort with respect to the transaction.
About Granite Comfort
Granite Comfort is a residential HVAC and plumbing platform company
that invests in and partners with leading residential HVAC companies
in the United States. For more information, visit
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is a middle-market private equity firm
that invests in growing infrastructure platforms. Tiger
Infrastructure targets investments in communications, energy
transition, transportation, and related sectors, primarily located
in North America and Europe. For more information, visit