Stonebridge Partners is pleased to announce the successful acquisition of Math Mechanical, Inc. (“Math”) on November 21, 2024 by Paramount Mechanical Corporation, LLC (“Paramount” or “the Company”), a Stonebridge portfolio company since 2021. Math, based in Portsmouth, VA, is an independent provider of HVAC, plumbing and pipe services for industrial, commercial and medical facilities across the Newport News/Norfolk/Virginia Beach region. Renowned for its specialized expertise in medical gas systems Math serves a diverse clientele, including medical and commercial institutions. Math’s general manager, Jimmy Matthews, commented, “this merger between Math and Paramount expands our capabilities in the region. We are excited about the opportunities this partnership creates for our customers and team going forward.”
The acquisition of Math fits well within Paramount’s efforts to become a leading provider of HVAC services in growing and attractive markets down the Eastern U.S. seaboard. Headquartered in Manassas, VA, Paramount has built longstanding relationships with federal, defense and education facilities. Over the past three years, Stonebridge and Paramount’s management have successfully expanded the Company’s service and maintenance capabilities, particularly in the burgeoning data center market. Its Math acquisition will further expand Paramount’s existing HVAC and plumbing service and maintenance business, provide expertise in medical gas, and expand Paramount’s relationship with certain key hospital networks in Southern Virginia. Stonebridge and Paramount are enthusiastic about this strategic combination with Math and remain committed to acquiring additional service-oriented HVAC businesses in the Mid-Atlantic and Southeastern U.S.
Stonebridge Partners (stonebridgepartners.com) is a lower middle-market, operations-oriented private equity firm founded in 1986. Math represents Stonebridge’s 74th acquisition, 38 of which have been add-on acquisitions. Taking an active, hands-on approach to value creation, Stonebridge and its Operating Partners partner with the management of its portfolio companies to pursue additional growth avenues and operational efficiencies. Stonebridge is focused on investing in family-owned, niche manufacturing, distribution, and service businesses with EBITDA of $3 million to $15 million. For more information, please contact shanna@stonebridgepartners.com.