Palmetto Air & Water Balance Announces Acquisition of SMI Group

May 20, 2026 - Jacksonville, FL and Greenville, SC - Palmetto Air & Water Balance, LLC ("Palmetto" or the "Company"), a people-first, high-growth independent Testing, Adjusting and Balancing ("TAB") and Critical Environment Certification business, is pleased to announce the acquisition of SMI Group ("SMI"), a leading TAB service provider based in Jacksonville, Florida.

Led by Lyndon McGill, SMI has built a strong reputation throughout the Jacksonville market and across the Southeast for technical excellence, customer service, and a commitment to doing business the right way. SMI's operations will become part of Palmetto's growing platform, further expanding the Company's presence in Florida and strengthening its ability to serve customers across healthcare, education, commercial, institutional, and industrial end markets.

"We are incredibly excited to welcome Lyndon McGill and the talented SMI team to the Palmetto family," said Rob Gannett, CEO of Palmetto Air & Water Balance. "SMI has earned an outstanding reputation in the Jacksonville market through a consistent commitment to integrity, professionalism, and technical excellence. Those values align directly with who we are at Palmetto. As we continue to grow, our goal is not simply to add locations, but to partner with great people and strong local teams who share our commitment to serving customers, developing employees, and building something special together."

Lyndon McGill, former owner of SMI, will continue with Palmetto and remain actively involved in the Jacksonville operations.

"Joining Palmetto is an exciting next step for our team, our customers, and the business we have built," said Lyndon McGill. "From the beginning of our conversations, it was clear that Palmetto shared our values and respected the relationships, reputation, and culture that have made SMI successful. Palmetto brings additional resources, technology, training, and career opportunities for our employees, while allowing us to continue serving our customers with the same local commitment they have come to expect."

The acquisition of SMI represents another important step in Palmetto's continued growth as a leading independent TAB and Critical Environment Certification platform. Palmetto has continued to expand its geographic footprint and technical capabilities through partnerships with high-quality local firms that share the Company's people-first culture, customer focus, and commitment to excellence.

"Jacksonville is an attractive and growing market, and SMI gives us a strong foundation with a respected team already in place," added Gannett. "We look forward to supporting Lyndon and the SMI team as they continue to grow, while also connecting them to the broader capabilities, systems, and resources of Palmetto."

Palmetto's transaction with SMI Group represents the Company's seventh add-on as a SRM Equity Partners ("SRM") portfolio company, following Palmetto's transactions with N.D. White Engineering Services and Air Balancing Company in 2023, Delta-T in 2024, and TSI, ETB-Arizona, and Bay 2 Bay Balancing in 2025. Palmetto is actively pursuing additional Partners to continue its exceptional growth trajectory.

The transaction was led by John Cote, Beau Brace, and Thomas Slade of SRM Equity. Palmetto was represented by Nelson Mullins Riley & Scarborough. Terms of the transaction were not disclosed.

About Palmetto Air & Water Balance:
Palmetto Air & Water Balance, LLC began in 1989, is headquartered in Greer, South Carolina and operates 27 offices throughout Arizona, Florida, North Carolina, South Carolina, Tennessee, Texas, and Virginia with over 330 teammates. Palmetto is a leader in the industry, providing Test and Balance and Certification services to Healthcare, Life Sciences, Education, Institutional, Data Center, and Industrial facilities.