Goldman Sachs-Backed Sila Acquires Davis Heating and Air Conditioning

What happened

Sila Services, LLC acquired Davis Heating and Air Conditioning Company, a residential HVAC, plumbing and electrical contractor serving Western Virginia, including the Roanoke, Lynchburg and Danville regions. Sila announced the deal on July 6, 2026, and presented it as its expansion into Western Virginia. The announcement did not include a purchase price or other financial terms.

The seller

W.D. Davis founded the business as Davis Sheet Metal, and Sila's announcement dates the company to 1947. In 1988 it came under the direction of his grandson, Ben Parcell, as a third-generation company. Since 2014 it has been led and owned by Chris Bishop, whom the announcement names as CEO and owner.

The company operates as Davis Heating, Cooling, Plumbing & Electric from locations in Rocky Mount, Danville and Lynchburg, and serves Franklin, Roanoke, Henry, Halifax and Pittsylvania counties along with parts of North Carolina. Sila's release describes the work as maintenance- and repair-focused residential HVAC, plumbing and electrical service. Beyond heating and cooling, Davis handles water heaters, well pumps, water treatment, drain and sewer work, generators and EV chargers, and is a Ruud Pro Partner. Its HomeGuard Shield plan is a planned maintenance agreement that bundles heating and cooling checks with annual electrical and plumbing inspections.

"For more than 75 years, our company has been dedicated to delivering exceptional service, and that commitment has always started with taking care of our people," Bishop said in the announcement.

The buyer

Sila is headquartered in King of Prussia, Pennsylvania, and operates brands across the Northeast, Mid-Atlantic and Midwest, offering residential and commercial HVAC, plumbing, electrical, water treatment, indoor air quality and home performance services. Jason Rabbino is chief executive.

In November 2024, the private equity business at Goldman Sachs Alternatives agreed to acquire a majority stake in Sila from affiliates of Morgan Stanley Capital Partners, which had invested in 2021. Under that agreement, Sila management would continue to lead the company and retain a significant minority stake. Nicole Agnew, a partner in private equity at Goldman Sachs Alternatives, said at the time that the firm would work to "further accelerate the Company's growth trajectory – organically and via M&A."

Mike Rudolf, Sila's chief operating officer, described the approach in the Davis release: "Our mission is to preserve what makes great local companies successful while giving them additional resources to grow." He said Sila is "committed to helping Chris and his team continue that legacy."

How Sila has grown since Goldman arrived

Sila's own descriptions of its size trace the pace. It reported more than 30 brands when the Goldman Sachs agreement was announced, more than 35 when it acquired My Plumber Plus in June 2025, more than 40 when it added the five-company NEOH group in Ohio in January 2026, and more than 45 in the Davis announcement. Brands are not the same as deals: NEOH alone brought five.

My Plumber Plus, founded in 1982, is the nearest comparable. It is a plumbing, HVAC and electrical provider in the DC-Maryland-Virginia region, and Sila announced it as continuing its Virginia growth. Davis is in Western Virginia, a different part of the state. The two releases also share their seller endorsement nearly word for word: Phil Hopkins of My Plumber Plus said Sila's "people first" culture "perfectly mirrors our own commitment to our team members," and Bishop said Sila's "people-first culture perfectly mirrors our own commitment to our team members." Owners weighing a platform sale can read our guide on selling an HVAC business to private equity.

What this means for HVAC owners

Davis is a precedent for owners who did not found their company. It was a third-generation company by 1988 and had been owned by Chris Bishop for twelve years when a Goldman Sachs-backed platform bought it. What Sila took on was a residential service base across three trades, tied together by one maintenance agreement, rather than a single-trade shop. For HVAC, plumbing and electrical contractors in Roanoke, Lynchburg and Danville, the consequence is close to home: a local competitor now has dozens of sister brands and a private equity owner behind it.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with HVAC businesses in Virginia.

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Source: Sila Services - https://silaservices.com/sila-services-expands-into-western-virginia-with-acquisition-of-davis-heating-and-air-conditioning-company