FMI Capital Advisors, a subsidiary of FMI Corporation, is pleased to announce the sale of Donnelly Mechanical Corporation, a leading mechanical, Heating, Ventilation, and Air Conditioning (HVAC), and energy services contractor, to ENGIE North America Inc. Donnelly Mechanical Corporation was founded in 1989 and has more than 200 employees serving customers in a range of industries from healthcare, to data centers, to commercial real estate. FMI served as the exclusive financial advisor to Donnelly Mechanical in this transaction.
ENGIE, the number one provider of energy services in the world, is focused on continued growth across North America, uniting leading-edge mechanical and electrical contracting solutions with its existing portfolio of energy supply, energy optimization, and building modernization offerings to commercial, industrial, and public-sector customers.
“ENGIE North America has taken a strategic approach to integrating outstanding mechanical and electrical companies into our comprehensive energy service model. Donnelly has worked with more than 2,000 customers as a highly reputable, reliable mechanical/HVAC services provider serving numerous sectors across New York City,” said John Mahoney, President and CEO of ENGIE’s Services businesses in North America. “We’re excited to welcome Donnelly and its employees into the ENGIE North America family of companies to continue to strengthen our range of services for customers across the U.S. and Canada.”
Under original company founder and long-time CEO Dan Donnelly, the Donnelly group has been focused on finding a long-term home where the next chapter of the company will be supported and poised for growth both regionally and at a national level. Following the acquisition, newly-appointed Donnelly CEO Joseph DiPrisco, former Chief Financial Officer, shared excitement over the opportunity to build on Donnelly’s legacy of achievement as a new part of ENGIE.
“Donnelly is ready to grow our regional successes within the interconnected network of other successful ENGIE teams to deliver additional components to our typical scope of work – creating a seamless, sustainable energy services model for our valued customers,” said DiPrisco. “The resources that ENGIE can provide as we continue to grow together make this transition a very exciting, positive opportunity for Donnelly.”
About FMI Capital Advisors:
FMI Capital Advisors, a subsidiary of FMI Corporation, is the leading investment banking firm serving the construction industry. With over 700 completed M&A transactions in construction, our industry focus enables us to provide our clients with valuable insight and advice. Clients gain access to our unparalleled network of industry contacts and relationships, deep market knowledge and technical expertise, based on decades of experience.