Lohmiller & Company Owners Roger Lee, Tim Brooks & Mark Brown

Business Description

Lohmiller & Company (“Lohmiller”), also known as Carrier West, is a leading independent distributor of HVAC equipment, parts and supplies serving residential and commercial contractors throughout the Rocky Mountain region. Founded in 1990 by Chuck Lohmiller and headquartered in Denver, Colorado, the Company operates four locations and employs approximately 220 people. Over more than 35 years, Lohmiller has established itself as the region's leading HVAC distributor and one of a select group of distributors with the right to offer Carrier Corporation's (NYSE: CARR) full suite of residential, light commercial and applied HVAC products, complemented by an extensive inventory of parts and supplies and the deep in-house technical expertise. Building on the foundation established by Chuck, Tim Brooks, Roger Lee and Mark Brown have continued to grow Lohmiller while fostering an award-winning culture centered on its employees, customers and supplier relationships. The Company has been recognized as a Denver Post Top Workplace for 12 years and has received Carrier’s prestigious Top Gun Award 24 times, recognizing the top six market performers in North America.

Background

After decades of successfully building Lohmiller, its owners engaged CMG to evaluate strategic alternatives and identify the right partner for the Company’s next chapter. From the outset, the owners’ objectives extended well beyond maximizing transaction value, including finding a partner that shared Lohmiller’s people-first culture, respected its longstanding customer and supplier relationships, and would preserve the entrepreneurial spirit that has been fundamental to the Company’s success. At the same time, Lohmiller represented a highly strategic platform in an HVAC distribution market experiencing significant investment and consolidation, particularly within the independent Carrier distribution network. The Company’s scale, market position and longstanding Carrier relationship generated strong interest from potential partners across the distribution landscape. CMG was mandated to navigate those alternatives and create a process that would allow the owners to evaluate not simply who would pay the most, but who represented the best partner for Lohmiller and its shareholders.

Solution

Leveraging its dedicated HVAC industry practice and relationships throughout the sector, CMG managed a highly competitive transaction process that generated several compelling alternatives for Lohmiller’s owners. CMG worked closely with Tim, Roger and Mark throughout the process to evaluate the financial, strategic and cultural merits of each opportunity. Ultimately, SRS Distribution emerged as the ideal partner, offering the combination of significant resources and growth capabilities that aligned with the Company’s dedication to market leadership and winning culture. The transaction also represents an important expansion of SRS’s growing HVAC distribution platform.