Why It Matters to Distributors: Private equity-backed service platforms can consolidate purchasing, shift supplier relationships and concentrate buying power among fewer, larger customers.
Blackford Capital has launched a new platform focused on HVAC, electrical and related construction services, combining two companies it acquired late last year as part of a broader expansion strategy.
The Grand Rapids, Michigan-based private equity firm said the platform is anchored by Habco Partnership, an electrical contracting firm, and Moro Corp., a construction services and materials company. Both were acquired in December 2025 and have been combined under the Habco name. Habco CEO Andrew Habel will lead the business.
Blackford said the platform is intended to deliver integrated HVAC and electrical services across commercial, industrial and residential markets, with additional acquisitions planned.
“Aging infrastructure and the need for energy-efficient solutions is driving demand across commercial, industrial, and residential end-markets,” said Jeff Johnson, managing director at Blackford Capital, in a statement. He added the firm intends to build “a wide geographic footprint and diversified service offerings” through the platform.
Habco, founded in 1973 and based in St. Louis, provides design-build electrical contracting services, supporting projects from pre-construction through completion. The company serves sectors including warehousing, senior living and industrial facilities and operates an additional office in the Washington, D.C., area.
Moro, headquartered in Natick, Massachusetts, provides HVAC, electrical, structural steel and sheet metal ductwork services across the Northeast. Its businesses — including Apollo Heating, Rondout Electric and Whaling City Iron Co. — will continue operating under their existing brands.
Habel said the combined company aims to offer customers a single provider for multiple services. “We believe that providing blue-chip customers with a one-stop shop for high-end electrical and construction services will be a competitive advantage,” he said in the statement.
Blackford invests in lower middle-market companies across manufacturing, distribution and services. The firm said it has completed 20 platform investments and 33 add-on acquisitions since its founding in 2010.
The move reflects continued private equity activity in fragmented construction and building services markets, where firms are assembling regional operators into larger platforms tied to infrastructure and energy-efficiency demand.
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