The Bottom Line: NewSpring Exits United Building Solutions
April 21, 2025
NewSpring ("the Firm"), a family of private equity strategies, today announced that NewSpring Mezzanine, the Firm’s dedicated private credit strategy, has exited its investment in United Building Solutions, LLC (“UBS”) through a sale to AE Industrial Partners (“AE”).
UBS is a leading provider of specialty mechanical services
UBS has grown into a leading provider of specialty mechanical service solutions across the Mid-Atlantic region. The company offers a comprehensive suite of services tailored to owners and operators of mission-critical, multi-site, and complex commercial properties.
UBS’ foundation of skilled operators fueled organic and acquisitive growth
Through a partnership between Crescendo Capital Partners and NewSpring, UBS was established through the initial acquisition of Lor-Mar Mechanical Services, Inc. (“Lor-Mar”) in 2020, followed by the subsequent acquisitions of Unitemp, Inc. (“Unitemp”), Mechanical Degrees, Inc., and A&B HVAC Services, Inc. in 2022. Each of these businesses brought deep technical capabilities, market leadership, and loyalty, with long-tenured teams committed to high-quality service.
“NewSpring and Crescendo have been supportive and collaborative partners for UBS, empowering the management team and encouraging both growth and stability to the benefit of all UBS employees and stakeholders. Their operational support, deep network, and M&A expertise made them the ideal partner to help us scale this platform.”
UBS expanded revenue streams and invested in technology
Under Dave’s leadership, UBS strategically increased its focus on service and direct-to-owner relationships—a shift that grew recurring revenue streams and strengthened its customer value proposition. UBS also invested in new technology to enhance operational efficiency, improve reporting capabilities, and better support continued growth.
“When we initially invested in Lor-Mar, we knew it represented a strong foundation for organic growth and acquisitions in a consolidating, mission critical end market. With the dedication of Dave and his team, the Company made targeted investments in people, processes, and systems to build a platform poised for long-term success. We wish Dave and the entire UBS team continued success in this next chapter.”