Chad Wiegmann, president of Wiegmann Associates, declined to share terms of the deal, but said the acquisition will add 10 percent to 20 percent in revenue for the company. Wiegmann Associates had revenue of $40 million in 2017, he said. Both Wiegmann and Earth City-based SystemAire are among the region’s largest mechanical contractors. SystemAire had revenue of $14.2 million in 2016 and 65 total employees, according to St. Louis Business Journal research.
“When you have a company like SystemAire, they have a lot of different customers and clients, as well as technicians that have worked for them for a long time and that’s a real asset,” Wiegmann said. “We thought it would be great where we could work it out and have the opportunity to continue working with their existing customers and retain their same technicians.”
The acquisition of SystemAire’s service assets means that 17 team members, including a dispatcher and service technicians, will join the Wiegmann team, bringing its technician total to 27 and total employees to 100. The company also acquired service trucks and equipment. The acquisition is limited to SystemAire’s service assets and not the entire company or its construction projects, Wiegmann said.
“Our company has historically been a construction services company, and since the recession the construction side has suffered,” said Kelsie Sams, president of SystemAire. “When we knew it was time to transition out of this business, we were committed to securing an HVAC partner that would provide our same level of excellent service.”
SystemAire, headquartered in Earth City, was founded in 1966 by Philip Sams. The company is owned by Philip and Kelsie Sams and will finish its construction projects but will not operate long-term, according to Sams. SystemAire will close down once those projects are completed in the next few months, he said.
This is the first acquisition for Wiegmann Associates, according to Wiegmann.
“We are open to other things in the future, but for now, we want to make sure that we get to know our new customers and our new technicians,” he said.
Among the company’s local projects are the St. Charles County emergency operations center, BJC HealthCare’s Evelyn’s House hospice center and Parkway North High School.