Dallas-based private equity firm Trinity Hunt Partners announced a majority investment in Illinois-based Blackhawk Supply, a specialty distributor of HVAC parts and equipment. The deal marks the foundation of a new national HVAC distribution platform, the firm said in July.
Trinity Hunt said the platform will leverage its "buy-and-build" strategy to scale in the fragmented HVAC sector, with plans to grow rapidly through acquisitions and operational improvements. No financial details were released.
The firm has appointed Troy Vellinga as CEO of the new platform and Jason Lewis as chief development officer. Both executives bring significant experience in scaling businesses through strategic acquisitions.
Vellinga previously led American Equipment Supply through 19 add-on deals during his three years as CEO. Lewis most recently served as vice president of corporate development at TurnPoint Services, where he helped drive more than 50 acquisitions across HVAC, plumbing, and electrical services.
Founded in 2015, Blackhawk operates two integrated brands -- Blackhawk Supply and Midwest Supply -- that serve contractors, facility operators, and end users across the country. Its catalog spans HVAC, building automation systems, electrical, and plumbing products, with a digital-first model anchored by e-commerce platforms.
Trinity Hunt said it plans to support the platform's next phase with a mix of organic growth and strategic M&A.
"There is a tremendous opportunity to scale quickly in this industry," said Garrett Greer, partner at Trinity Hunt, citing the potential to boost efficiency across the HVAC supply chain. "In partnering with Blackhawk, we believe we have solid groundwork to build upon in growing an industry-leading HVAC distribution platform."
Vellinga said the new venture will aim to deliver strong value for customers, suppliers, and employees alike.
"We will build and operate a best-in-class distribution platform," he said, adding that the team plans to "uphold the core values built by our partner company founders while providing strategic support and exciting avenues for accelerated growth."
Trinity Hunt said it is actively looking to expand the platform through new partnerships with companies in HVAC and adjacent facility product distribution sectors.
A couple of weeks after the Blackhawk deal in July, Trinity Hunt announced the launch of the firm's commercial paving services platform with a majority investment in Denver-based DACS Asphalt & Concrete.
Characterized as a "foundational investment," the firm said it aims to expand that business through acquisitions and organic growth, following a playbook similar to the one underway in HVAC distribution.
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