ButcherJoseph Advised ESOP-owned HB McClure on Acquisition

November 2017


VIew press release
Q&A WITH HB MCCLURE

“ButcherJoseph structured a sound transition process that maximized our opportunity as an employee-owned company, and helped us position ourselves for even greater success.”

Robert Whalen
President & CEO, HB McClure

Who is our client?

  • HB McClure is a leading provider of HVAC and mechanical contracting services for residential and commercial applications in the northeastern U.S. The Company was founded in 1914.
  • In 2010, HB McClure was sold to a newly established Employee Stock Ownership Plan (ESOP), and made a series of add-on acquisitions thereafter.

Why did HB McClure hire ButcherJoseph?

  • HB McClure sought an investment bank to provide buy-side advisory services for a transformative acquisition and to assist in raising the acquisition financing as well as provide other financial restructuring surfaces. 

What did ButcherJoseph deliver?

  • ButcherJoseph provided valuation, business diligence, acquisition modeling, and strategic advisory to HB McClure.
  • ButcherJoseph sourced and negotiated a senior credit facility to support the acquisition while refinancing the existing credit facilities.
  • HB McClure successfully closed on the acquisition of Nash Plumbing and Mechanical, a commercial plumbing and mechanical contractor serving the southeastern U.S. and Caribbean, expanding HB McClure’s service offering and geographic footprint.