Calder Capital announced the successful sale of Elkhart-based Griffen Plumbing and Heating to Astra Service Partners.
Griffen Plumbing and Heating provides preventative maintenance, installations and repairs. Founded in 1982, Griffen Plumbing and Heating has grown from 2 service technicians to a team of 50 mechanical service professionals. Todd Mikel, Griffen Plumbing and Heating owner, is pursuing retirement to spend more time with family and travelling.
Astra Service Partners, a division of Orion Group, focuses on commercial and industrial field services, acquiring and growing leading heavy mechanical companies. As part of the Astra network, Griffen will now work closely with fellow Midwest partner Air Comfort.
Mikel expressed gratitude to his team and customers.
“After a fulfilling career, I’m ready for my next chapter, one that includes more time with my family and quiet mornings spent fishing,” Mikel said in a press release.
Orion Group’s Joel Fonseca welcomed Griffen Plumbing and Heating to Astra Service Partners.
“Griffen has an incredible reputation, built on exceptional service and its deeply committed team,” Fonseca said. “We look forward to supporting Griffen’s continued growth and success in the Midwest market.”
Matt Uhl of Calder Capital served as the lead mergers & acquisitions advisor to Griffen Plumbing and Heating. Aiding in the transaction was Greg Weess, lead associate.
During the process, Griffen attracted interest from a pool of buyers, ultimately receiving eight offers.
“Reflecting on the transaction, I am positive that Matt and Calder Capital found us the right partner to propel Griffen to new heights,” Mikel said. “There is a level of peace and contentment that I have found as I closed this chapter of my life, knowing that Griffen is in great hands.”
