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Since 1996  ●  30+ Years

Sector-Exclusive M&A Advisory
for Specialty Contractors

First Mergers Group advises privately held specialty contractors and industrial services companies on ownership transitions, including company sales and private equity recapitalizations.

115+ completed transactions and over $5 billion in aggregate transaction value.

115+
Completed
Transactions
$5B+
Aggregate
Transaction Value
30+
Years of Sector
Experience
Industrial construction at dusk
About the Firm

Independent Advisory Focused on
Contracting & Industrial Services

First Mergers Group is an independent advisory firm focused on advising owners of specialty contracting and industrial services businesses. We advise founders, families, and shareholders on company sales, private equity recapitalizations, and other ownership transitions.

Every engagement benefits from deep industry knowledge, an established buyer network, and disciplined transaction execution.

Compensation is success-based, aligning our interests with ownership from engagement through closing.

01
Sector-Exclusive Focus
We advise specialty contracting and industrial services companies.
02
Principal-Led Execution
Clients work directly with the firm's principal from initial evaluation and positioning through negotiation and closing.
03
Referral-Based Practice
Nearly all engagements originate from former clients, strategic buyers, and long-standing industry relationships.
04
Selective Engagements
We limit the number of mandates we accept to ensure each client receives focused attention and disciplined execution.
05
Success-Based Compensation
Aligned with ownership from engagement through closing.
Sector Coverage

Sector Focus Across
Contracting and Industrial Services

We focus exclusively on specialty contracting and industrial services businesses serving commercial, infrastructure, and industrial end markets. That focus provides deep insight into the operating drivers, valuation dynamics, and buyer landscape that shape successful transactions.
Specialty Contracting
  • Electrical, Mechanical & Plumbing
  • HVAC & Building Systems
  • Industrial Specialty Trades
  • Fire Protection & Life Safety
Industrial & Infrastructure
  • Industrial Process Services
  • Heavy Civil & Infrastructure
  • Energy & Utility Services
  • Engineering & EPC Services
  • Power Generation & Grid
Facility Services
  • Facility Maintenance
  • Outsourced Industrial Services
  • Building Automation & Controls
Technical & Modular
  • Fabrication & Modular Construction
  • Process Equipment Installation
  • Specialty Mechanical
Our Process

Controlled process.
Pre-qualified buyers.
Execution certainty.

A disciplined, confidential process designed to maximize valuation, preserve negotiating leverage, and drive successful closings.

Each confidential information memorandum (CIM) positions the business within its strategic context and frames a clear investment thesis for buyers.
Phase I
Strategic Preparation
  • Financial normalization
  • Earnings quality positioning
  • Risk identification
  • Investment thesis
  • Valuation analysis
Phase II
Buyer Engagement
  • Strategic & private equity buyer mapping
  • Pre-vetted buyer universe
  • Senior-level outreach
  • Controlled information release
  • NDA execution
Phase III
Competitive Process
  • Structured IOI collection
  • Valuation evaluation
  • Term negotiation
  • Competitive bidding
  • LOI negotiation
Phase IV
Diligence & Structuring
  • Coordinated diligence
  • Bonding & lender management
  • Third-party coordination
  • Structure optimization
Phase V
Execution & Closing
  • Legal documentation
  • Counsel coordination
  • Momentum preservation
  • Post-closing support
Market Perspective

Strong Buyer Demand for
Specialty Contracting Businesses

Industrial welding
30
Years of Sector Focus

Private equity groups and strategic acquirers continue to pursue well-positioned contracting and industrial services companies.

Private equity firms and family offices remain active in fragmented service sectors, pursuing both platform formations and add-on acquisitions.
Strategic acquirers pursue acquisitions to expand capabilities and geographic reach, driving sustained demand for well-positioned contractors in core and adjacent markets.
Infrastructure modernization and grid expansion are driving sustained specialty contractor demand across electrical, mechanical, and utility services sectors.
AI-driven data center construction is increasing demand and valuations for specialty contractors serving electrical infrastructure, mechanical systems, and modular construction.
Well-positioned companies with strong management teams and consistent performance continue to command premium valuations.
Transaction History

115+ completed transactions
since 1996

Representative transactions across specialty contracting and industrial services.
2025
Exclusive Sell-Side Advisor
Century (Industrial / Electrical Contracting) acquired by Comfort Systems USA (NYSE: FIX)
2025
Exclusive Sell-Side Advisor
Right Way Plumbing Co. acquired by Comfort Systems USA (NYSE: FIX)
2024
Exclusive Sell-Side Advisor
John Nugent & Sons acquired by Sila Services
2023
Exclusive Sell-Side Advisor
Eldeco, Inc. (~$135MM revenue) acquired by Comfort Systems USA (NYSE: FIX)
2021
Exclusive Sell-Side Advisor
Ivey Mechanical Company (~$155MM revenue) acquired by Comfort Systems USA (NYSE: FIX)
2021
Exclusive Sell-Side Advisor
Hayes Mechanical acquired by TJM Capital Partners
2020
Exclusive Sell-Side Advisor
TEC Industrial acquired by Comfort Systems USA (NYSE: FIX)
2019
Exclusive Sell-Side Advisor
Hill York Air Conditioning Services acquired by EMCOR Group (NYSE: EME)
2015
Exclusive Sell-Side Advisor
Greenberry Industrial (~$200MM revenue) acquired by NAES / ITOCHU Corporation
View All Transactions
Founder & Principal

Michael A. Price
President  ·  First Mergers Group

Michael A. Price
115+ Completed Transactions

Michael A. Price founded First Mergers Group in 1996 and has advised owners of specialty contracting and industrial services companies for more than three decades.

He leads all client engagements personally, working directly with clients throughout the advisory process — from initial evaluation and positioning through negotiation and closing.

First Mergers Group operates on a referral-based model, reflecting relationships with owners, private equity investors, and strategic acquirers across the contractor M&A market.

(703) 216-6864 mp@firstmergers.com www.firstmergers.com
Confidential Discussion

Market Value Assessment

Owners considering a sale or recapitalization can speak confidentially with Michael Price for a perspective on valuation, market dynamics and potential strategic options.

Request a Confidential Assessment
Email
mp@firstmergers.com
Phone
(703) 216-6864
Location
Leesburg, Virginia
Founded
1996  ·  30+ Years