Building the Essential Trades Platform of the Future
Azul Capital Partners is a focused private equity fund acquiring and consolidating MEP and HVAC businesses across the United States — delivering institutional-grade returns from the backbone of America's built environment.
Why Submit to Us
Serious Buyers. Fast Decisions.
Azul Capital Partners is a focused private equity firm acquiring and consolidating MEP and HVAC businesses across the United States. We're not tire-kickers — when we see a deal that fits our platform thesis, we move quickly with competitive offers and flexible structures that work for sellers and their families.
The MEP/HVAC Opportunity
Fragmented Market
The MEP/HVAC sector is dominated by owner-operated businesses with no institutional buyer — creating a rare consolidation opportunity with significant multiple arbitrage.
Recession-Resistant Revenue
HVAC, plumbing, and electrical services are non-discretionary. Maintenance contracts and service agreements generate predictable, recurring cash flows regardless of economic cycles.
Platform Value Creation
By acquiring and integrating complementary MEP businesses, we build regional platforms that command premium exit multiples from strategic buyers and larger PE funds.
Platform Sectors
MEP & HVAC Trades We Actively Acquire
We focus exclusively on mechanical, electrical, and plumbing businesses — the essential infrastructure trades that power America's built environment.
HVAC
Heating, ventilation, and air conditioning contractors with residential and commercial service agreements, maintenance contracts, and installation revenue.
Plumbing
Full-service plumbing contractors serving residential, commercial, and industrial clients with recurring service revenue and emergency call capabilities.
Electrical
Licensed electrical contractors with commercial and industrial project pipelines, service departments, and long-term maintenance agreements.
Mechanical / MEP
Mechanical, electrical, and plumbing contractors serving the commercial construction and facilities management markets with bundled service capabilities.
Specialty Contractors
Fire suppression, building automation, controls, and other specialty trade contractors with recurring inspection and maintenance revenue streams.
Industrial Services
Industrial HVAC, process piping, and mechanical services for manufacturing facilities, data centers, and critical infrastructure clients.
Acquisition Parameters
Our Process
From Submission to Closing
We've streamlined our process to move quickly while being thorough. Here's what to expect when you submit a deal to Azul Capital Partners.
Submit Your Deal
Complete our deal submission form with key business details. Include financials, asking price, and reason for sale.
Initial Review
Our team reviews your submission against our MEP/HVAC platform criteria. We assess strategic fit and value creation potential.
Discovery Call
If there's mutual interest, we schedule a call to discuss the opportunity in detail and answer questions.
LOI & Due Diligence
We submit a Letter of Intent with proposed terms, then conduct thorough due diligence on the business.
Negotiate & Structure
We work with you to finalize deal terms, structure, and transition planning that works for all parties.
Close & Fund
Complete the transaction with funding, ownership transfer, and begin the integration and growth phase.
Have an MEP or HVAC business that fits our criteria?
How Else Can We Help?
Beyond Acquisitions
We're more than just buyers. Whether you need help closing a deal, structuring terms, underwriting an opportunity, or improving a business you already own — reach out.
Get Your Deal Across the Finish Line
Stuck on a deal? We can help you navigate obstacles, negotiate terms, and close transactions that seem stalled.
Deal Structuring
Creative deal structures that work for both buyers and sellers. Seller financing, earnouts, equity rollovers, and more.
Underwriting Support
Need help underwriting a deal? We provide analysis, valuation guidance, and due diligence support for acquisitions.
Business Performance
Already own an MEP or HVAC business? We help with operational improvements, growth strategies, and performance optimization.
Not sure what you need?
LP Partners
Institutional Returns from Essential Trades
Azul Capital Partners offers accredited and institutional investors the opportunity to co-invest alongside our GP in a focused MEP/HVAC platform strategy — accessing recession-resistant cash flows, multiple expansion, and a clear path to a strategic exit.
Focused Sector Expertise
Exclusively MEP/HVAC — deep operator knowledge, proprietary deal flow, and sector-specific value creation.
Experienced Operators
Your capital is deployed alongside operators who understand how to run and grow trades businesses.
Platform Value Creation
Buy-and-build strategy targeting 3–5× MOIC through consolidation, operational improvement, and multiple expansion.
Aligned Interests
GP co-invests in every deal. Our incentives are fully aligned with LP returns.
What to Expect
- · Minimum investment varies by deal
- · Quarterly reporting and full transparency
- · Direct communication with the GP team
- · Diversification across MEP sub-sectors and geographies
Investment opportunities are available to accredited investors as defined by SEC regulations.
LP Investor Inquiry
Leadership
The Operator Behind the Fund
Christie Thompson
Founder & Managing Partner
Background
A rare force in private equity: a women-owned fund founder who built her career operating trades businesses inside Fortune 500 companies, scaling business units from $15M to $150M in revenue. Christie spent years as a key operator and equity holder inside a MEP enterprise that executed multiple rollups and grew to nearly $1B in total value — accumulating over $500M in transaction exposure from the inside. She brings what no financial buyer can match: the credibility of someone who has run the business, managed the technicians, and lived the integration.
Deal Experience
Operated inside an MEP enterprise through multiple rollup cycles, contributing hands-on execution across acquisition, integration, and scale — from field operations to back-office systems to leadership transitions. Now translating that institutional knowledge into her own fund, with the anchor deal already under LOI.
Long Island, NY — Commercial HVAC
Why Christie. Why Now.
Christie is not a financial engineer — she is the operator. She embeds 30 to 120 days post-close, preserves technician culture, retains skilled staff, and builds the standardized infrastructure that transforms owner-dependent businesses into institutional-grade enterprises.
Operator-First
The demographic wave is peaking. Christie has the hands-on MEP/HVAC operating depth to execute where financial buyers cannot.
Rollup Execution
Lived through multiple rollup cycles from the inside — acquisition, integration, scale, and exit. No learning curve.
Founder-Aligned Model
The deal flow is live. The fund is structured. There is no one else in this market with her specific combination of Fortune 500 depth and founder-aligned integration.
Who Should Submit
We Work With Deal Sources Nationwide
Business Brokers
- ·Competitive broker commissions honored
- ·Fast feedback to keep deals moving
Business Owners
- ·Confidential evaluation process
- ·Flexible terms for your exit goals
M&A Advisors
- ·Serious buyer with proof of funds
- ·Professional, efficient process
Investment Banks
- ·Lower middle market focus
- ·Quick decisions on fit
Bird Dogs
- ·Zero Down & Subto Community Members
- ·Bird Dog Fees honored
Why Deal Sources Choose Us
We Close Deals
Our 90%+ close rate on LOIs means when we say we're interested, we follow through. No wasted time.
Flexible Structures
All-cash, seller financing, earnouts, equity rollovers — we structure deals to meet seller objectives.
Operator Mindset
We're not financial engineers. We're operators who understand MEP/HVAC businesses and value what you've built.
Relationship First
We treat every interaction professionally. Even if a deal isn't right, we maintain relationships for future opportunities.
Submit a Deal
Have an MEP or HVAC Business For Us?
Submit your MEP or HVAC business for review. We respond to every submission within 48 hours with initial feedback on fit and next steps.
Your information is protected. We sign NDAs upon request and never share deal details without your explicit permission.
Prefer to email directly?
[email protected]