Mubadala completes acquisition of Service Logic in partnership with Bain Capital

Abu Dhabi’s Mubadala Investment Company, in partnership with Bain Capital, has closed the acquisition of the US-based Service Logic, a leader in comprehensive commercial heating, ventilation, and air conditioning (HVAC) and building automation services.

Headquartered in Charlotte, North Carolina, and operating from over 140 locations across North America, Service Logic specialises in mission-critical commercial HVAC services, including preventative maintenance, emergency service, unit replacement, and retrofit projects.

Mubadala and Bain acquired the company from Leonard Green & Partners and will continue to support it in its next phase of growth.

Service Logic acquisition completed

Zouhir Regragui, Head of Industrials & Business Services at Mubadala, commented: “Mubadala is pleased to partner with Bain Capital and the team at Service Logic at this exciting juncture for the company.

“Service Logic has built a leading national platform underpinned by strong local execution, market-leading technical expertise and customer retention. This investment reflects our conviction in the company’s continued growth potential and our strategy of backing resilient, essential services businesses with clear avenues for value creation.”

The US HVAC services firm has over 5,000 technicians across the organisation and combines a high-touch, local service model with the benefits of national scale. The company has a long track record of successful strategic acquisitions and continued collaboration with local owner-operators.

The investment was led by Bain Capital’s North America Private Equity team, which has a long heritage of partnering with and accelerating growth at market-leading services and distribution businesses.