Crescendo Capital Partners, LLC (“Crescendo”) is pleased to announce its investment in Lor-Mar Mechanical Services, LLC (“Lor-Mar” or the “Company”), the leading mechanical contractor in the greater Philadelphia region. Modern Bank provided debt financing, while NewSpring Capital provided debt and equity co-invest financing, in partnership with Crescendo. Management retains a significant equity position.
“ We are excited to partner with Crescendo. Given Crescendo’s investment experience in the mechanical contracting space and its commitment to preserving the strong culture within Lor-Mar, we are confident that the Company will continue on its promising growth trajectory.
Michael MacRitchie, Partner at Crescendo, noted, “For the past 30 years, Lor-Mar has built a reputation in the Philadelphia area as the premier provider of HVAC, plumbing and sheet metal retrofit and service work. We are excited to partner with the Lor-Mar team and will invest to accelerate the Company’s next phase of growth."
Based in Pennsauken, NJ, Lor-Mar is well known in the greater Philadelphia market for retrofit, service and maintenance work. Lor-Mar specializes in HVAC, plumbing and sheet metal services for its commercial and industrial client base.
Crescendo invests in middle-market companies at an inflection point, bringing capital and scaling skills to unleash latent growth potential. Crescendo has made ~10 acquisitions totaling ~$300M, and has a particular expertise in the construction trades, with 6 such closed acquisitions.