Griffin Serves as Exclusive Banker to CAM H.V.A.C. in Merger with Crete United
CAM H.V.A.C. (“CAM” or “the Company”) is a premier, family-owned and -operated mechanical contractor based in Smithfield, Rhode Island, with nearly five decades of proven performance across Southern New England. Since 1974, CAM has delivered expert HVAC installation, service and in-house sheet metal fabrication for a diverse mix of public and private sector clients. The Company has carved out a strong niche in high-stakes, technically complex environments—most notably in wastewater treatment and other essential infrastructure. Renowned for its precision, reliability and commitment to safety, CAM is the go-to partner for municipalities, school systems and commercial operators seeking quality without compromise.
Situation
Following years of sustained growth and operational success under second generation leadership, CAM’s owners sought a strategic partner with the resources, scale and technical capabilities to elevate the business to its next phase. CAM was at an inflection point: the company was well poised for continued growth, but the family ownership sought to diversify their exposure to the business while simultaneously finding a partner that would facilitate their legacy and reputation for quality and service. CAM is widely recognized as a leader in designing and building complex and highly demanding HVAC systems like those found in water and wastewater infrastructure buildouts.
Solution
CAM engaged Griffin Financial Group as its exclusive investment banker to explore strategic alternatives. Leveraging deep sector expertise and a broad network of relationships across the commercial and industrial services landscape, Griffin ran a highly competitive process, carefully excluding local competitors, while focusing on both strategic acquirers and select financial sponsors including both private equity funds and family offices. The process attracted significant interest and resulted in multiple compelling proposals. CAM ultimately chose to partner with Crete United (“Crete”), a national leader in energy-efficient HVAC, electrical and mechanical services backed by Ridgemont Equity Partners. The partnership not only accelerates Crete’s Northeast expansion but also unlocks new opportunities in the mission-critical wastewater infrastructure market.
