Chicago, IL – March 3, 2022 – Svoboda Capital Partners LLC (“SC”), is pleased to announce the recapitalization of Horwitz, LLC (“Horwitz” or the “Company”). Specific terms of the transaction were not disclosed.

Founded in 1918 and based in New Hope, MN, Horwitz operates as a multi-trade specialty mechanical and HVAC service provider. The Company provides engineering, installation, and ongoing support for the HVAC, plumbing, electrical, and building controls industry segments. Horwitz is differentiated by its deep in-house design/build engineering capabilities which supports the Company’s cross-disciplinary service offerings. The Company provides a full suite of services to over 1,300 customers annually consisting of general contractors, specialty contractors, and building owners.

Horwitz is led by Bill McKoskey (Chief Executive Officer) and Stu McIntosh (President) who have been with the Company for 33 years and 7 years, respectively. In addition to McKoskey and McIntosh, the Company’s senior leadership team is made up of seven other owners with an average tenure of over 10 years. This group of nine owners oversees an organization comprised of approximately 320 employees, which includes approximately 220 tradespeople in the field and 100 non-field employees.

“We are so excited to enter this next chapter at Horwitz. We see our partnership with Svoboda Capital as an opportunity to continue investing in Horwitz’s growth, while maintaining the strong culture that has sustained the Company for over 100 years” said Horwitz’s CEO Bill McKoskey. “The foundation of Horwitz has always been to provide a path for advancement to top performers at all levels of the organization and our partnership with Svoboda provides the resources to continue offering those opportunities to our people.”

Stu McIntosh, Horwitz’s President added, “Svoboda Capital understands our business, and they understand that to be competitive in our business, you need to be constantly innovating and providing outstanding service to your customers. Horwitz has a successful track record of growth through innovation, and our partnership with Svoboda gives us additional support to push even harder to remain ahead of the curve in our industry.”

“The Horwitz team has built an industry leading organization that emphasizes the importance of people, safety, and outstanding customer service. This commitment to building a culture of excellence has translated to industry leading employee tenure, strong growth and long-standing customer relationships,” said David Rubin, Managing Director at SC. “SC’s partnership with Horwitz reflects our firm’s continued focus on investing in and helping build great services companies.”

For more information on Horwitz, please visit www.horwitzinc.com.

Madeira Partners served as Horwitz’s financial advisor and investment banker for this transaction. Winthrop & Weinstine served as the legal advisors to Horwitz. HMB Legal Counsel served as the legal advisors to SC.