Investment Firm to Support Leading Home Services Company’s Growth Acceleration
Delaware and New York – November 13, 2019 – Horizon Group Holdings, LLC, a premier provider of heating, air conditioning, plumbing, and electrical services, announced today that the Company has partnered with New York-based New Mountain Capital, a leading growth-oriented investment firm.
Horizon’s founder and management will remain invested in the Company. The investment by New Mountain sets the stage for the continued growth acceleration of Horizon as a leading operator within the home services space. Founded in 1987 and headquartered in Newark, Delaware, Horizon provides essential heating, air conditioning, plumbing, and electrical services to residential customers. The Company currently operates in seven Metropolitan Statistical Areas throughout the eastern United States: Philadelphia, New York, Atlanta, Baltimore, Washington D.C., Hartford, and Jacksonville. The Company supports strong, local brands with high quality, centralized marketing, customer care, and procurement functions to deliver “best-in-class” service. Over the Company’s 32- year history, the Horizon team has successfully developed a strong brand and operations model to better serve customers.
“We have long admired Dave’s leadership, entrepreneurship and success in growing the business over the years. We are excited to partner with Dave, Charlie, and the rest of their team,” said Mat Lori, Managing Director at New Mountain Capital. “We look forward to providing additional resources to help the Company realize its full potential across organic and acquisition-based strategic initiatives.”
“New Mountain is the ideal partner for Horizon as we enter our next stage of growth,” said Dave Geiger, Founder and Chief Executive Officer of Horizon. “This is an exciting time in Horizon’s history, and we are confident that New Mountain’s proven track record of business building and supporting management teams with close strategic engagement is a real differentiator. We look forward to our partnership and the benefits it will yield for our customers, employees, and industry partners.”
“After spending years analyzing the home services market, we identified Horizon as an industry-leading brand, operating model and team with a track record of high-quality customer service and strong, organic growth,” said Kyle Peterson, Director at New Mountain Capital. “We believe the partnership between New Mountain and Horizon will enable the Company to further its leading position in the industry.”
“We are excited to partner with New Mountain and to continue building the Horizon platform,” said Charlie Haines, President of Horizon. “We see many avenues for growth ahead for the Company and believe that New Mountain’s valuable insights, expertise and relationships will help us accelerate the business and solidify our leading position in the industry.”
About Horizon Services
In 1987, Horizon Services began with one core idea: give homeowners what they want. Today, Horizon’s 1400+ strong team and more than 900 service vehicles, serve tens of thousands of homeowners annually throughout Delaware, Pennsylvania, New Jersey, Maryland, Connecticut, Georgia, Virginia, and Florida. For more information, please visit www.horizonservices.com.
Tara Mogan, Chief Marketing Officer
(302) 221-3511 x1251
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $20 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit nmcapdev.wpenginepowered.com.