North Wilkesboro, North Carolina – December 5, 2025 — Corbell Private Capital is pleased to announce it has acquired a majority equity stake in Associated Heating and Air Conditioning Inc. (“AHAC”), a leading commercial and residential HVAC contractor based in North Wilkesboro, North Carolina. This strategic partnership centers on delivering comprehensive heating, ventilation, and air conditioning solutions in North-Western North Carolina.
AHAC brings a compelling operating history of over fifty years and a strong reputation for exceptional service quality, technical expertise, and reliability. The company is a trusted partner across various key markets, including educational, general commercial, and institutional projects, as well as residential and maintenance work.
Corbell Private Capital will provide strategic guidance, access to capital, and operational resources designed to accelerate AHAC’s expansion into new geographic regions and service line extensions. Furthermore, Corbell’s investment provides AHAC with access to a broader network of trade partners across North America, positioning the company for its next phase of industry-leading growth.
This investment enhances Corbell’s growing platform in the construction trades and essential service sectors, building on recent acquisitions such as Carpet USA and RWC Systems. The new partnership is structured to ensure seamless continuity for existing clients while unlocking significant potential to scale the delivery of comprehensive climate control and comfort solutions.
“This partnership reflects Corbell’s commitment to backing exceptional founder-led businesses with strong fundamentals, a great reputation, and a clear path for further growth. AHAC’s reputation for quality, technical expertise, and customer trust makes it an ideal platform for expansion within our construction trades strategy.” — Eric Persi, Managing Partner, Corbell Private Capital.
“Nearly five decades after the founding of Associated Heating and Air Conditioning, I am proud to partner with Corbell for the company’s next chapter of growth. Corbell shares the same commitment to quality, service, and integrity that has guided our team from the start. I am confident this partnership will create new opportunities for our employees and customers alike, while continuing the legacy we’ve built in our community.” — David Burchette, President, Associated Heating and Air Conditioning.
The deal team would like to thank all lead partners involved in the transaction, namely Main Street Bank, MNP LLP, Cassels Brock and Blackwell LLP, Platform Insurance, and Aclarus Solutions. Additionally, the deal team would like to recognize the sell-side advisor, Viking Mergers and Acquisitions, for a smooth and efficient transaction.
About Corbell Private Capital: Corbell Private Capital is a growth-oriented private equity firm that partners with lower-middle-market companies to drive transformational, sustainable growth and value creation while preserving the legacies of the businesses it partners with. Corbell combines deep operational experience with flexible capital solutions to support management teams in building industry-leading businesses.