Generational Equity Advises Williams Refrigeration & Heating in its Sale to Heartland Home Services

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client Williams Refrigeration & Heating, Inc. to Heartland Home Services. The transaction closed May 6, 2022.

Located in Warren, Michigan, Williams Refrigeration & Heating (WRH) provides residential and commercial heating and air conditioning sales, installation, service, and repair. With operations spanning 82 years, WRH’s greatest attributes are its highly skilled employees and loyal customer base. WRH is a full-service company offering repairs, maintenance and installations in all facets of the residential and commercial HVAC industry.

Heartland Home Services is the leading technology-enabled provider of repair, replacement and maintenance services for the HVAC, plumbing and electrical markets in which they operate. The Company operates through 32 brands across 8 states including Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio and Wisconsin. The Company collectively serves over 1,000,000 customers annually with 1,600+ team members through a collection of industry-leading brands that date back to 1904. For more information, please visit

Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team led by Senior M&A Advisor, Joe Hige, with support from Managing Director, Mergers & Acquisitions, Ryan Johnson, successfully closed the transaction. Senior Managing Director, Ashok Tandon established the initial relationship with WRH.

“The Williams team has built a strong brand reputation in the area and will be a great fit with the Heartland HVAC portfolio companies. Heartland and Williams worked closely together to close this transaction that will benefit both parties,” said Hige.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit