Stout Advises Prairie Mechanical on Sale to Best in Class Technology Services

Stout served as the exclusive financial advisor to Prairie Mechanical Corporation (“Prairie”) on its sale to Best in Class Technology Services (“BCTS”), a portfolio company of Investcorp.

Headquartered in Omaha, Nebraska, Prairie is a leading full-service mechanical contractor, providing HVAC, plumbing, sheet metal, and steamfitting services and solutions to the Omaha and Lincoln regions. The Company offers construction, preventative maintenance, and emergency repair services to mission critical, industrial, education, healthcare, technology, retail, and other attractive end markets. Prior to closing, Prairie had been 100% ESOP-owned since 2021.

BCTS, headquartered in Lenexa, Kansas, is a platform consisting of several HVAC service contractors, operating branches across the Midwest, Southeast, and Northeast United States. BCTS was created through a combination of market-leading local service brands and provides expert service to commercial, industrial, and institutional end markets.

Investcorp, headquartered in Bahrain, is a leading global manager of alternative investments with six lines of businesses, including private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital. Its North America Private Equity group has been investing in middle market businesses for over forty years and has completed approximately seventy transactions, totaling over $22 billion in transaction value.

Pat Kealy, who co-founded Prairie and currently heads the Company, commented, “Stout operated with impressive levels of professionalism and efficiency, and was instrumental in helping us achieve the best possible outcome for Prairie and its employees. Stout’s industry knowledge and ESOP expertise were critical in navigating the nuances of this transaction.”

Mark Abbott, Stout Managing Director and Head of Services, shared, “Pat and Brett (Lundin) built a tremendous business, and we are glad to have been able to assist Prairie in moving forward with BCTS.”

Stout’s Mark Abbott, Steven Rathbone, Mark Buchanan, Mike Knoblock, Donnie Burton, and Kate Hardiman led the successful execution of the transaction.

Stout Capital, LLC acted as exclusive financial advisor to Prairie in connection with the transaction. Prairie was advised by Bryan Cave Leighton Paisner. BCTS was advised by Gibson, Dunn & Crutcher LLP.