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Lee-Collier-Charlotte
Business Observer Monday, Mar. 2, 2020 5 months ago

National home services firm buys area AC company

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The Wrench Group bought another area business, CoolToday, in April 2019.

NAPLES — The Wrench Group, a national conglomerate of home repair and maintenance services companies, is expanding its air conditioning service presence in the region with the acquisition of Florida Cool.

The Wrench Group announced the deal for Florida Cool, based in Naples, in a statement March 2. Terms of the deal weren’t disclosed.

The Wrench Group’s businesses specializes in heating, ventilation, air conditioning, plumbing, water and electrical services, according to a statement. In addition to the west coast of Florida, it operates in the Atlanta, Dallas, Houston and Phoenix markets, serving over 500,000 customers annually.

Florida Cool has been locally owned and operated by Tom Caprio since 1992, the release states. Caprio will continue to manage the Naples operation as market president. “The Florida Cool team is thrilled to be joining The Wrench Group, an organization which shares the same dedication to its employees and customers,” says Caprio in the release. “We look forward to partnering with the team on the next phase of our growth and success.”

The Wrench Group, now backed by Los Angeles-based private equity giant Leonard Green & Partners, also acquired Sarasota-based CoolToday, in April 2019. Florida Cool will combine its operations with CoolToday, the release states. “Through our combined leadership and operational success, Tom and I are excited about delivering the highest level of quality and service to customers,” says CoolToday President Jaime DiDomenico in the statement.

DiDomenico and Caprio work together to combine brand names in the coming months.

 

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