Platte River Equity has acquired Building Controls & Solutions (BCS) from LKCM Headwater Investments.
BCS is a value-added distributor of building automation products, including building controls, automation systems, gas detection equipment, and energy management equipment. The company’s customers operate in sectors such as education, government, data centers, healthcare, and other commercial industries.
BCS, led by CEO Eric Chernik and CFO Christopher Wenaas, operates 24 branches across the United States and Canada, with its headquarters in Dallas, Texas.
“We are excited for the next big chapter with Platte River,” said Mr. Chernik. “BCS is committed to delivering the highest value to our customers through our people, technologies, and product and service offerings, and we are confident that our partnership with Platte River will bring additional resources to support our future growth across North America.”
“BCS is a great example of Platte River’s continued strategy of partnering with niche, market leaders within its target sectors. We look forward to leveraging our experience within industrial distribution to continue to build upon the impressive platform Eric, Christopher, and the team have established,” said Mark Brown, managing director at Platte River.
LKCM Headwater formed BCS in November 2019 to combine the operations of three companies – the Building Solutions division of Relevant Solutions, Amcon Controls and INTEC Controls. During its ownership term, BCS closed six add-on acquisitions including Houston-based Control Products (2020), Boston-based Interstate HVAC (2021), Charlotte-based Activelogix (2022), Houston-based ICD Building Automation (2022), Minneapolis-based Minvalco (2023), and Toronto-based Yorkland Controls.
Denver-based Platte River Equity makes equity investments ranging from $25 million to $100 million in lower middle-market companies with annual revenues of $20 million to $250 million and EBITDA between $7 million and $30 million. The firm’s sectors of interest include aerospace and transportation, energy products and services, industrial products and services, and agriculture and chemicals.
“BCS has been a company we’ve held in high regard, and we’re eager to support its next phase of growth,” said Tarun Kanthety, a vice president of Platte River. “With the sector’s attractive trends and the company’s strong positioning, we’re enthusiastic about the future ahead.”
LKCM Headwater, the private equity arm of Luther King Capital Management, invests from $5 million to $80 million of equity in companies that have revenues of $50 million to $500 million. Sectors of interest include distribution services, manufacturing, healthcare, financial and professional services, consumer products, technology, and energy. The firm is headquartered in Ft. Worth, Texas.
Intrepid Investment Bankers served as the financial advisor to Platte River on this transaction.
© 2025 Private Equity Professional | February 6, 2025
