Latest acquisition strengthens Fidelity BSG’s presence in the Gulf region and demonstrates continued progress with the company’s strategic multi-regional growth plan.
TYSONS, VA (July 1, 2021) – Ascend Capital Group (“Ascend”) served as the buy-side advisor to Fidelity Building Services (“Fidelity BSG”), a premier provider of high-performance building solutions, on its acquisition of Metro Mechanical, Inc. (“Metro Mechanical”), a full-service commercial mechanical systems provider. This is the third acquisition Ascend has sourced for Fidelity in the last nine months.
For 25 years, Metro Mechanical has specialized in commercial design/build mechanical systems and services, including HVAC, plumbing, and Building Automation & Controls to critical buildings such as commercial offices, education, government, healthcare, and churches. With locations in Mississippi and Louisiana, customers can expect a full range of services from design, fabrication, and installation to ongoing service and maintenance. The company boasts a full team of in-house engineers, a dedicated fabrication shop, and onsite training facilities, as well as other key industry differentiators.
“Metro Mechanical’s goals and values fully align with those of Fidelity BSG. They are committed to service excellence, which is reflected in their quality, safety, and technical acumen,” said Dave Lanphar, Fidelity BSG CEO/Partner. “We are thrilled to welcome the Metro Mechanical team to our growing family of companies, and we look forward to the opportunities this partnership will bring.”
With over 1,700 team members, 27 locations, and 75+ years of experience, Fidelity BSG is a leading provider of integrated technical building services for the commercial and industrial facilities market. Product and service offerings include emergency generators/power systems/systems, building mechanical/HVAC systems, building automation & controls, and systems integration., with its core markets being commercial, industrial, and institutional facilities. Fidelity BSG is a portfolio company of Oaktree Capital Management.
The acquisition of Metro Mechanical is the latest move in Fidelity BSG’s strategic multi-regional growth plan, further solidifying its presence in the South. Previous acquisitions with Ascend as their buy-side advisor include Smart Building Technologies and Systems Technologies, demonstrating the firm’s breadth of expertise and connections within the space.
Dave Lanphar added, “It was a pleasure working with the Ascend team once again. They are hyper-focused on ensuring the best result for all involved, and their expertise and in-depth knowledge of the HVAC/mechanical space made the entire process a smooth and successful one. The team’s understanding of our business and where the market is going allowed us to identify another great partner to help achieve our strategic goals.”
“Ascend is grateful to continue our support of Fidelity BSG’s growth story,” said Thien Van Tran, Vice President at Ascend. “Our mandate with Fidelity BSG focuses squarely on identifying the best of the best and leveraging our team’s experience to enhance the value that the company’s platform is able to deliver to its customers. With the acquisition of Metro Mechanical, the team has achieved this goal yet again.”
This acquisition was effective July 1, 2021.