NATIONAL — Transworld M&A Advisors advised Rycor HVAC as it completed its merger with HOP Energy LLC, a portfolio company of Delos Capital. HOP Energy is a residential and commercial full-service energy provider. Rycor HVAC, is a full-service reseller of Mitsubishi mini-split heat pump systems in the Northeast.
With almost 100,000 customers, HOP Energy provides a wide range of residential and commercial products including heating oil and propane gas, HVAC heating and air conditioning systems, biofuel, generators, and full-service maintenance.
Rycor HVAC is a green energy firm that specializes in the Mitsubishi mini-split, ductless air conditioning and heating systems.
Terms of the transaction were not disclosed. Peter Berg and Jennifer Fox of Transworld M&A Advisors provided advisory services to Rycor. Daniel C. Stafford of McCabe & Mack provided legal counsel for Rycor. James Kim from Cole Schotz provided legal counsel to HOP Energy. Lazard served as financing advisor to HOP Energy.
"This merger is a transformative event that will support HOP Energy's continued growth throughout the Northeast," said Michael Anton, president and CEO of HOP Energy. "Rycor's commitment to energy efficient heating and cooling systems will add additional choices for our residential and commercial clients."
"I am delighted at being part of the team at HOP Energy," said Scott Arnold, founder and president of Rycor HVAC. "I share the company's vision of building one of the largest HVAC companies in the Northeast with an emphasis on energy efficiency."
He continued, "Peter Berg, Jen Fox and the entire Transworld team did an excellent job of managing the entire process from start to finish and helping ensure this very positive outcome."
