October 6, 2006—Caxton-Iseman Capital, Inc. and Royal Palm Capital Partners, Inc. announced that they have acquired American Residential Services L.L.C. (ARS), one of the nation’s leading providers of HVAC and plumbing services with 2005 revenues of more than $500 million, from The ServiceMaster Company.
Caxton-Iseman is the majority investor in the transaction. Headquartered in Memphis, Tennessee, ARS serves residential and light commercial customers under the ARS Service Express and Rescue Rooter brands. It operates through an extensive network of 57 locations in 24 states.
Frederick J. Iseman, Managing Partner of Caxton-Iseman Capital, said: “The acquisition of American Residential Services builds on our long history of investing in service businesses in partnership with exceptional managers. Because ARS is one of the few national providers in a fragmented industry, it is well-positioned to grow through acquisitions and other initiatives. Don Karnes and Dave Slott are ideally suited to lead the business given their past career accomplishments and general familiarity with ARS. We and Royal Palm look forward to working with Don and Dave to capitalize on new opportunities to further strengthen ARS’s leading market positions.”
For more information, see the ARS Web site.
