Crete United Expands Presence in Energy Efficiency Sector

Charlotte, NC, September 1, 2025

News Summary

Crete United has strengthened its position in the energy efficiency and HVAC markets through strategic acquisitions and partnerships. The company aims to enhance sustainable building practices and is on track to achieve $1 billion in annual revenue, up from a remarkable 40% revenue growth this year. By focusing on reducing greenhouse gas emissions and integrating acquired businesses, Crete is set to position itself as a leader in this industry, promoting healthier building practices across the United States.

Charlotte, NC – Crete United has expanded its footprint in the energy efficiency and HVAC sectors with recent strategic acquisitions and partnerships, marking a significant milestone in the company’s mission to enhance sustainable building practices across the United States.

Crete United, which currently owns over 40 companies specializing in commercial HVAC, electrical, plumbing, and building automation, aims to make every building healthier. The company has seen a remarkable revenue growth of approximately 40% in 2023 and projects to reach $1 billion in annual revenue through both organic growth and strategic partnerships. In alignment with its sustainability goals, the company focuses on reducing greenhouse gas emissions, with buildings contributing 35-40% of total emissions in urban areas.

The company, co-founded by Frank Zhang and Jake Sloane—both Harvard MBAs with backgrounds on Wall Street—has evolved since its inception. CEO Mike Cox, brought in to lead Crete in 2022, has a diverse background that includes 16 years in the U.S. Navy and experience leading Bilfinger North America. His military training in accountability and leadership informs his management style. Under his leadership, Crete has transitioned from a traditional rollup strategy to a fully integrated entity with a unified approach, allowing for improved operational efficiency and stability.

Crete recently announced the acquisition of Hartwig Mechanical, which significantly boosts its presence in the Midwest region. Moreover, a new partnership with ProStar Energy Solutions integrates HVAC and energy management services, aligning with Crete’s commitment to enhancing energy efficiency in buildings.

Approximately 90% of the original owners from the acquired businesses continue to operate under the Crete umbrella, seamlessly transitioning from business owners to partners. This partnership approach has resonated well with sellers, particularly as many baby boomer business owners face succession challenges. Crete strategically targets successful enterprises with strong leaders, ensuring continuity and the retention of business identities within its integrated framework.

Ridgemont Equity Partners’ involvement has been pivotal, accelerating Crete’s growth strategies, contributing to its current workforce of 4,000 employees, and reinforcing its commitment to energy-efficient practices, even in light of fluctuating government subsidies.

Crete United’s advancements demonstrate how the company is not only positioning itself as a leader in energy efficiency but also as a trusted partner for businesses seeking to remain competitive in a changing market. By prioritizing sustainable practices and operational unity, Crete is set to thrive in a sector increasingly focused on environmental responsibility.

Background Context

Crete’s growth trajectory began in earnest after Ridgemont Equity Partners acquired majority control, propelling the company’s revenue growth to exceed $1 billion. Initially following a classic rollup strategy, Crete United has adapted its approach, honing in on the integration of acquired companies to foster collaboration and efficiency. This strategy has capitalized on the unique opportunities presented by an aging population of business owners who may lack succession plans, creating favorable circumstances for acquisition.

Conclusion

As Crete United continues to thrive through acquisition and partnership, its focus on energy efficiency and sustainability positions it as a critical player in the HVAC and building services market, promising significant contributions to healthier building practices nationwide.

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Additional Resources

• Business NC: BNC 125
• PE Hub: Ridgemont to Test Buyout Market
• PRWeb: Baserock Partners Advises Hartwig Mechanical
• HVACR Business: Crete United Partners with ProStar Energy Solutions
• Encyclopedia Britannica: Energy Efficiency

Author: HERE Charlotte

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