UBS Acquires McCarl’s HVAC/R

CONSHOHOCKEN, PA -- United Building Solutions, a provider of HVAC services, has acquired McCarl’s Services Inc., a commercial and industrial HVAC and refrigeration specialist in western-Pennsylvania, Ohio and West Virginia.

Based in Cranberry Township, Pa., McCarl’s has over 80 years of experience in commercial HVAC, refrigeration, and mechanical services. One of the largest service-focused operators in the region, McCarl’s serves commercial and industrial customers in critical end markets where reliability is paramount.

McCarl’s will operate as a division of UBS under the continued leadership of its president, Mike McCarl.

“Since its founding in 1946, McCarl’s has built a strong regional reputation for its commitment to service and excellence, making them a valuable addition to our rapidly expanding network,” said David Leathers, CEO of United Building Solutions. “In addition to extending our geographic reach, the acquisition of McCarl’s aligns with our broader strategy of providing specialized service solutions that support organizations in critical market sectors.”

The transaction is UBS’ third add-on acquisition following its establishment as a national commercial HVAC services platform by AE Industrial Partners in 2025. Together, these transactions have expanded the Company’s footprint from three Mid-Atlantic states to 11 markets across the Northeast, Midwest, Southeast, and South-Central United States.

“Having served the western-Pennsylvania region for three generations, joining UBS’ rapidly expanding network will allow us to enhance our capabilities and accelerate growth while maintaining our commitment to technical expertise, superior quality, and outstanding service,” said Mike McCarl, President of McCarl’s.
“The integration of McCarl’s into the UBS network marks another milestone in our vision of creating a nationally-scaled commercial HVAC platform that can meet the growing demands for comprehensive mechanical services for mission-critical infrastructure,” added Bryan McElwee, Partner at AE Industrial.

“McCarl's is a service-first operator with deeply embedded customer relationships, specialized technical capabilities, and a strong management team that makes it an ideal fit with the UBS platform. Mike McCarl and his team have built something exceptional and we're excited to give him the resources and infrastructure to accelerate what's already working.”

PwC served as financial advisor to AE Industrial. Three Sixty Seven Advisors served as financial advisor to McCarl’s.

AE Industrial Partners is a private investment firm with approximately $9.2 billion in assets under management as of December 31, 2025, focused on investing in technologies and services considered critical to national & economic security.

Since 2015, AE Industrial has completed more than 155 investments in market-leading companies that benefit from its deep industry knowledge, operating experience and network of relationships across the sectors where the Firm invests (national security, aerospace and industrial services).

AE Industrial is headquartered in Boca Raton, FL and has an office in Washington, D.C. Learn more at www.aeroequity.com.

With over 30 years of experience and more than 2,000 customers served, UBS specializes in optimizing building systems and operations, improving energy efficiency, and enhancing overall performance.