21.12.2020

Heartland

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December 18, 2020

New York, NY; Brussels, Belgium; Macomb, Michigan – Cobepa is pleased to announce a new investment in Heartland Home Services (“Heartland” or the “Company”) in conjunction with a recapitalization sponsored by The Jordan Company (“TJC”), a leading New York based private equity firm. Cobepa, a global private equity firm, made a significant minority investment in the Company. North Branch Capital and Heartland Management will continue to hold minority positions.

 Heartland is a leading technology-enabled provider of residential HVAC, plumbing, electrical and indoor air quality services in the Midwestern United States. The Company offers replacement, repair and maintenance services, with a large and growing installed base. Headquartered in Macomb, Michigan, the Company has completed nine acquisitions since 2017, strategically expanding its operations in Michigan, Ohio, Indiana, Kentucky and Wisconsin.

 Led by CEO Bill Viveen, Heartland's seasoned management team has over 80 years of combined leadership experience. Mr. Viveen and his team of senior executives have been instrumental to Heartland's successful track record and are well positioned to lead the Company going forward. This new investment will provide the Company with significant resources as it continues driving operational efficiencies as well as capitalizing on organic and inorganic growth opportunities.

"We couldn't be more excited to partner with TJC and Cobepa for our next phase of growth as well as to continue our partnership with North Branch," said Heartland CEO Bill Viveen. "There is a great cultural fit between our organizations and we share a vision for Heartland's future. TJC's and Cobepa's resources are significant and will enable us to accelerate our long-term growth plan."

 "Bill and the management team have built Heartland into a leader in the residential services industry, leveraging technology to consistently deliver exceptional quality and customer service to homeowners in a large and competitive market," said Andrew Hollod, Principal at Cobepa. "We look forward to partnering with Heartland and supporting its continued strategic growth and leadership position."

 About Heartland Home Services

Based in Macomb, Michigan, Heartland Home Services is a leading provider of residential HVAC, plumbing, electrical, and indoor air quality services. Heartland has assembled a platform of well-recognized brands, including Randazzo Heating & Cooling, Vredevoogd Heating & Cooling, A+Derr Heating & Cooling, Hager Fox Heating & Cooling, First Call Plumbing, and Blind& Sons Heating, Cooling, Electric. The Heartland family of companies service customers throughout Michigan, Indiana, Ohio, Kentucky and Wisconsin. For more information, please visit www.heartlandhomeservices.com.

About Cobepa

Based in Brussels, Munich and New York, Cobepa is a privately-held investment company backed by European families. Cobepa manages a diversified portfolio of private equity investments valued at approximately $3.0 billion. Cobepa invests in leading companies with superior business models, sustainable market positions and leading management teams. Cobepa North America is primarily focused on investments in the business services, tech-enabled services and healthcare sectors as well as situations which might benefit from a nimble investment partner. For more information, visit www.cobepa.com.

Company: 

Cobepa S.A.

Cobepa S.A.
Rue de la Chancellerie 2, box 1
1000 Brussels
Belgium
Tel: 
+ 32 2 213 32 10
Fax: 
+ 32 2 513 17 02

Cobepa North America Inc.

Cobepa North America Inc.
Tower 49
12 East 49th Street
New York, NY 10017
United States
Tel: 
+1 (646) 679 5177

Ibel Beteiligungsberatung GmbH (Member of Cobepa Group)

Ibel Beteiligungsberatung GmbH
Theresienstrasse 1
80333 München
Germany
Tel: 
+32 2 213 32 10