Deal Details

DMG and JB Are Acquired by Ambient

Technology & Services

DMG and JB sale to Ambient, a portfolio company of ICG

Summary

DMG Corporation (“DMG”) and Johnson Barrow, Inc. (“JB”) have recently announced their merger with Ambient Enterprises LLC (“Ambient”), a portfolio company of Intermediate Capital Group (“ICG”) (LSE: ICP). The terms of the transaction were not disclosed.

Baird served as exclusive financial advisor to DMG Corporation and Johnson Barrow, Inc. on this transaction.

About

Founded in 1967, DMG provides design and engineering services for commercial HVAC solutions. DMG has built a strong market presence in California, Hawai’i, Nevada and Baja California with 15 offices offering full-suite HVAC services. DMG holds exclusive relationships with leading OEMs in the sector and benefits from a long-term OEM average partnership tenure of 30+ years. Its highly experienced and trained team of 120+ Sales Engineers with 15+ years of average experience delivers best-in-class service and is recognized as a leading provider of quality design & engineering expertise across its geographic markets. DMG is headquartered in Orange, California.

Founded in 1963, JB provides design and engineering services for commercial HVAC solutions. JB is a premier provider of commercial HVAC solution design & engineering services in Idaho, Oregon, Washington and British Columbia with five office locations across the Pacific Northwest. It has built strong relationships with blue-chip end users and leading OEMs based on its outstanding industry reputation for delivering crucial services for mission-critical HVAC solutions. JB has a team of 80+ Sales Engineers with 12+ years of average experience in delivering custom-designed, complex HVAC solutions. JB is headquartered in Seattle, Washington.

Ambient is a leading provider of custom HVAC solutions in the Eastern United States. Over its 30+ year history, Ambient has become a leader in delivering highly engineered HVAC systems for the commercial end market. Its deep technical expertise and engineering talent serve as the foundation for its leading solutions and service offering for new buildings and renovations, replacements and maintenance. Ambient’s highly technical solution suite delivers meaningful performance and reliability to all stakeholders in the HVAC and property management ecosystem. Ambient is based in New York, New York.

ICG is a leading global alternative asset manager with 30+ years history, providing flexible capital solutions to help companies develop and grow. The firm manages $81 billion of assets and operates across four asset classes: Structured and Private Equity, Private Debt, Real Assets and Credit. ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, using its position of influence to benefit the environment and society. ICG is committed to being a net zero asset manager across operations and relevant investments by 2040. ICG is headquartered in London, United Kingdom.

Technology & Services

DMG and JB sale to Ambient, a portfolio company of ICG