A Texas private equity firm on Wednesday officially launched its new HVAC distribution business and added a second company to the platform.
Trinity Hunt Partners last summer acquired suburban Chicago distributor Blackhawk Supply to be the “foundation” of a new HVAC platform. This week, the company announced the business’ name — Averon Group — and a second partner company: Fenco Supply.
Fenco, which operates four locations in East Tennessee, provides equipment, parts and supplies to HVAC contractors in the area. The company will maintain the Fenco brand and will continue to be led by Michael Fennell, its president.
Averon officials said that the company hopes to maintain the “local expertise and culture” of its partner companies as it builds “a nationwide network of independent HVAC distributors.”
Terms of the Fenco investment were not disclosed.
“With Blackhawk Supply and now Fenco Supply forming the foundation, Averon Group is demonstrating strong early momentum as a differentiated platform in the HVAC distribution sector,” Averon CEO Troy Vellinga said in a statement.
"In a highly fragmented industry, we are fortunate to join forces with partners who understand our vision and will work alongside us to strengthen our market position and expand our capabilities,” said Fennell.
