Headwaters advised Empire Gas & Electric of Denver, Colorado, a wholesale distributor of commercial and residential heating and air conditioning products throughout the Rocky Mountain region, on its sale to Charles D. Jones Co. of Kansas City, Missouri.
Scott Nicholson, President of Empire Gas & Electric, commented, “The Headwaters team helped us negotiate the difficult moments of our transaction and advocate for a positive result at every pass. Their dealmaking abilities helped us successfully complete the transaction.”
Bob Balaban, Managing Director at Headwaters MB, added, “This is really a win-win opportunity. For Empire, a 65-year-old family business, it was crucial to the family that we find the right financial transaction, and also to carry on their legacy by finding a strong cultural fit for their employees. For Charles D. Jones Co, this transaction represents a rare opportunity to bring on top-tier product lines, experienced employees, and instantly add distribution facilities in an important geography. I am confident that the union of these two strong companies will propel the combined entity to new heights.”
Terms of the transaction were not disclosed.