Aldine Capital Fund IV LP
07/27/2023 | Press release | Archived content
Aldine Invests In Ally Services
Aldine is pleased to announce an investment in Ally Services ("Ally"), which is comprised of two simultaneously closed acquisitions: SPS Mechanical ("SPS") and JF Plumbing & Heating ("JF"). Ally is a regional provider of essential home and facility services, including repair, maintenance, and replacement of plumbing, water filtration, and HVAC systems. Ally serves over 3,000 residential and light commercial customers annually throughout Virginia, Maryland, Pennsylvania, New Jersey, Delaware, and Washington D.C. After the initial acquisitions of SPS and JF, Ally also closed its first add-on acquisition, CarrFord Heating & Air Conditioning ("CarrFord"). CarrFord provides maintenance, repair, and replacement of HVAC systems and water boilers, allowing Ally to expand its market reach in New Jersey.
Aldine provided a subordinated note and equity investment alongside Watchtower Capital Partners.
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