Generational Equity Announces the Acquisition of K Dawson & Associates, Inc. and HeatSource, Inc. by HSI Holdings II, LLC

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held, middle-market businesses, is pleased to announce the acquisition of its client, K Dawson & Associates, Inc. and HeatSource, Inc., both headquartered in Carrollton, Texas, by HS Holdings II, LLC, headquartered in Dallas, Texas. The acquisition closed on June 14, 2016.

K Dawson & Associates, Inc. and Heat Source, Inc., collectively sell electric heaters, pressure and temperature sensors, temperature controls, electrical switching devices, and various types of relays throughout Texas, Louisiana, and Oklahoma.

The companies primarily serve plastic processors, steel, oil and gas, distributors, aerospace, and chemical processing markets.

Managing Director Michael Goss and Vice President Bryan Gooden led the Generational Equity deal team that advised both K Dawson and HeatSource on the transaction. 

“HSI Holdings brings a wealth of operational and analytical insight to both companies that will certainly allow for increased performance over time,” said Gooden.

HS Holdings, LLC is a private investment firm based in Dallas, TX. The team is managed and controlled by principals who are actively involved in all of the investment decisions and portfolio company oversight. The firm’s principals have demonstrated the ability to acquire and strengthen operations.

The transaction was closed by principals Neal Shah and Chris Hannah. To learn more, visit,

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