North Haven Capital (NHC) is pleased to announce the successful acquisition closing of Donnell Plumbing
& Heating, Inc. into its HVAC Systems and Services platform, Northeast Elements, Inc. (NEI)
NEI is a premier HVAC Systems & Services platform providing end-to-end system installations and
maintenance services of HVAC and modern Geothermal temperature control systems. While operating
through a family of local brands, the Company specializes in geothermal, heat pump, and high-efficiency
hydronic systems across the New England residential market.
Founded in 1988 by Timothy Donnell, Donnell Plumbing & Heating is a family-owned contractor with over 37
years of operational expertise in the Maine residential market. Donnell provides high-quality plumbing,
HVAC, and specialized maintenance services including plumbing contractor and heating contractor services
to communities across York and the southern Maine coast.
This strategic tuck-in acquisition strengthens NEI’s geographic foothold while also enabling it to turn into a
comprehensive “Home Wellness Services” partner with the addition of full-scale residential plumbing
capabilities. With a service corridor that spans from the Lakes Region in Western Maine to the coast and all
the way south into New Hampshire, the combined platform now offers a premium suite of end-to-end
residential systems and services for high-efficiency HVAC systems, geothermal installations, plumbing, and
water treatment solutions. This acquisition will help the platform further accelerate and diversify its base of
resilient, recurring revenue through Donnell’s focus on repair-based service model.
NHC’s Limited Partners and Mizzen Capital provided financing for the transaction to support the platform’s
next phase of growth.
“In less than a year, we’ve built tremendous momentum across the platform, and I’m incredibly proud of
what the team has accomplished together. The growth we’ve achieved to date reinforces our conviction in
both the market opportunity and the strength of the business. We remain highly confident in management’s
leadership, execution capabilities, and vision for the future, and we believe the Company is exceptionally
well positioned for continued growth in the years ahead,” said Sam Sezak, Partner at North Haven Capital.
About Mizzen Capital
Mizzen is a private credit investment platform that provides debt financing to U.S.-based private
companies operating in essential, non-cyclical industries. Mizzen partners with business owners and
financial sponsors to deliver flexible capital solutions supporting growth initiatives and acquisitions.
