Ascend Advises Fidelity Building Services Group on its Completion of Three Acquisitions in Three Months

Ascend has assisted with a total of eight acquisitions that support Fidelity BSG’s strategy to expand its technical capabilities, services, and geographic footprint.

TYSONS, VA (January 26, 2023) – Ascend Capital Group (“Ascend”) advised Fidelity Building Services Group (“Fidelity BSG”), a premier provider of high-performance integrated technical building solutions, on its acquisition of three leading platforms—CT/HX, HVAC Control Technology (HCT), and Cii Service.

“The combination of Ascend’s understanding of our investment strategy, expertise in our sector, and ability to articulate our value proposition is incredibly powerful,” said John Wissel, Chief Corporate Development Officer at Fidelity BSG. “The Ascend team continues to represent us well, finding the right strategic opportunities that fit our mandate and culture. They have been instrumental in our corporate development strategy and helping position us for strong growth ahead.”

Fidelity BSG is executing an aggressive growth strategy aimed at expanding both its technical capabilities and its geographic footprint into strategic, high-growth markets. Since October 2020, the Ascend team has originated, and in some cases helped close, eight transactions on behalf of Fidelity BSG’s acquisition strategy. The company and its forward-thinking leadership team are intensely focused on adapting to the ever-changing technological landscape by delivering smart and efficient software advancements for integrated technical building solutions, all through proactive, world-class service.

“All three of these acquisitions are a solid continuation of Fidelity BSG’s strategy to grow service capabilities and expand to high-tech controls within high-growth geographies,” said Thien Van Tran, Director at Ascend. “Fidelity doesn’t just look to acquire companies—much thought goes into how the companies and potential acquisitions come together to support Fidelity BSG’s mission to provide customers with high-quality technical services, solutions, and innovation. While these three companies focus on different areas, they all perfectly fit within Fidelity BSG’s overarching strategy.”

Fidelity BSG is currently pursuing strategic partnerships with HVAC/Mechanical, Emergency Power Generation, and Building Automation & Controls companies with a solid track record of success and established commercial, government, educational, and/or industrial clients. Please contact Thien Van Tran at thien@ascendcg.com to learn more.

Contact

Thien Van Tran

thien@ascendcg.com | 703.853.3055

The combination of Ascend’s understanding of our investment strategy, expertise in our sector, and ability to articulate our value proposition is incredibly powerful. The Ascend team continues to represent us well, finding the right strategic opportunities that fit our mandate and culture. They have been instrumental in our corporate development strategy and helping position us for strong growth ahead.

  • John Wissel

  • Chief Corporate Development Officer at Fidelity BSG
About Fidelity Building Services Group
About Fidelity Building Services Group

Fidelity BSG was founded in 1945 as a full-service mechanical engineering, contracting, and service company that introduced air conditioning, refrigeration, and process cooling to a new marketplace. The advent of air conditioning went on to revolutionize the entire building industry and Fidelity BSG has been on the leading edge ever since. Today, its geographic footprint has grown beyond the Mid-Atlantic, extending throughout the South, Southeast, Midwest and the Gulf Region, establishing itself as a leading national provider of technical building services and solutions for the commercial and industrial facilities market. For more information, visit fidelitybsg.com.

About CT/HX
About CT/HX

CT/HX is a premium provider of cooling tower and heat exchanger service, as well as complete refurbishments, that significantly extends the life of the equipment and recaptures thermal efficiencies for all makes and models. Having performed over 10,000 projects nationwide, CT/HX has become a trusted partner to building owners, property managers, and service providers. The company’s markets range across mission critical, healthcare, industrial facilities, commercial buildings, district cooling plants, and more. CT/HX provides service for clients nationwide from locations in Florida, Maryland, Pennsylvania, and Virginia. For more information, visit cthx.com.

About HVAC Control Technology
About HVAC Control Technology

HVAC Control Technology is a national provider of advanced systems integration and control system design and installation services. The company’s team members are experts in regulatory compliance within heavily regulated industries and serve several critical markets, including pharma/biotech, healthcare, retail, flavor and fragrance, and new construction. HCT’s service line offerings include facility management systems, process controls, energy and optimization, 24/7 monitoring and response, measurement and verification, energy-driven solutions, and preventive maintenance programs. The company offers customers its unique HCT PULSE Platform, a suite of automated and analytical services to further improve the customer experience and optimize facility management and SCADA systems. For more information, visit hvaccontroltechnology.com.

About Cii Service
About Cii Service

Headquartered in Richmond, Virginia, Cii Service provides HVAC/Mechanical and Energy Management Services to commercial, industrial, and institutional buildings in Central & Southwest Virginia and North Carolina. Their service line offerings include preventive maintenance agreements, commercial service and repair, chiller replacement, cooling tower repairs, energy monitoring and audits, lighting energy solutions, and more. Cii Service uses decades of professional experience, the latest industry technologies, and a commitment to integrity to deliver superior services that surpass customer expectations. For more information, visit ciiservice.com.

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