Matrix Announces the Successful Sale of Riddleberger Brothers, Inc.
RICHMOND, VA – February 29, 2008 – Matrix Capital Markets Group, Inc. announced today that it has successfully completed the sale of Riddleberger Brothers, Inc. to Comfort Systems USA, Inc. (NYSE: FIX), the nation’s premier mechanical systems installation and service provider headquartered in Houston, Texas. Riddleberger Brothers is based in Mount Crawford, VA and is an established leader in the engineering, installation and maintenance of mechanical systems in Central and Western Virginia. Matrix served as exclusive financial advisor to Riddleberger on the transaction.
Riddleberger Brothers is the largest mechanical contractor in Virginia’s Shenandoah Valley. Their solid reputation is built on a 68 year history of success and commitment to their customers. The Company offers a broad spectrum of construction services including project development, systems engineering and project construction, as well as service programs that include planned maintenance programs, factory authorized service, diagnostic capabilities, and emergency response services. They serve a diverse group of industries with an emphasis in healthcare, commercial, industrial and institutional, including educational and correctional facilities.
In commenting on the transaction, Jim Young, President & CEO of Riddleberger Brothers, stated “Bill Weirich and the team at Matrix provided valuable advice to me when I acquired Riddleberger and have been a trusted advisor ever since. Their past experience in guiding private business owners through the M&A process, as well as their ability to work seamlessly with our attorney and accountant helped to make this a successful transaction for all parties involved. We were very pleased with the outcome.”
Bill Weirich, Managing Director and Principal at Matrix commented, “It was a pleasure to work with Jim in realizing the value he created at Riddleberger. He has built a great company with an excellent management team that will fit well with the culture and style of Comfort Systems. Chris Menasco, Senior Analyst at Matrix, and I also enjoyed working with Jim’s attorney, Jeff Lenhart with Lenhart Obenshain, and his accountant, Mensel Dean with PBGH. We all worked extremely well together on the transaction.”
About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.
Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.