Industrial & Residential Services
CLA Meridian Capital Advises on Strategic Partnership Between Pike Street Capital and Superior Duct Fabrication
Published April 29, 2025
SEATTLE, WA — Pike Street Capital, a growth-oriented private equity firm based in Seattle, has announced a platform investment in Superior Duct Fabrication, one of the nation’s largest specialized manufacturers of HVAC ducting systems and sheet metal components. CLA Meridian Capital, a middle-market investment bank with a growing portfolio of HVAC and industrial services advisory engagements, facilitated the partnership.
Founded in 2002 by industry veteran Mike Hilgert, Superior has established itself as a market leader in the design and fabrication of highly engineered air handling systems and specialty HVAC products. Through strong union relationships, the Company serves a broad range of mission-critical end markets including data centers, semiconductor fabs, healthcare, higher education, industrial, government, and hospitality.
With five strategically located manufacturing facilities in Pomona, Camarillo, Las Vegas, Phoenix, and a new site in Columbus, OH, Superior combines deep fabrication expertise with integrated logistics and long-standing union partnerships to meet the evolving demands of high-performance environments and leading mechanical and HVAC contractors throughout the Western U.S.
“It was critical to find a partner who not only shared our values and long-term vision, but also brought operational expertise to help us execute and grow,” said Mike Hilgert, Founder and CEO of Superior. “Pike Street Capital is exactly that partner, and CLA Meridian Capital’s guidance throughout this process was invaluable. Their insight into the HVAC space, especially in positioning our business to the right strategic and financial audiences, made all the difference.”
“We’re entering an exciting new chapter,” added Reed Reynolds, President of Superior. “This partnership gives us the capital and support to expand our geographic footprint, grow our team, and offer even more value to our customers. CLA Meridian Capital was instrumental in aligning us with a partner that sees and supports our potential.”
Pike Street Capital, which brings more than 75 years of combined investing and operating experience, sees Superior as a foundational investment in its thesis around specialized manufacturing for the built environment.
“We’re excited to partner with Mike and the entire Superior team,” said Dave Dandel, Partner at Pike Street Capital. “They’ve built a high-performing organization with a strong reputation in the industry, and we see a great opportunity to build on that foundation – expanding capacity, entering new geographies, and enhancing capabilities to add even more value to demanding customers.”
The deal adds to CLA Meridian Capital’s record of advising premier HVAC component and services companies, reinforcing the firm’s growing expertise across industrial and building systems subsectors. In recent years, CLA Meridian Capital has completed multiple transactions in HVAC distribution, commercial mechanical services, and air handling equipment, solidifying its reputation as a trusted advisor in this space.
“We’re seeing sustained consolidation and investor interest across the HVAC value chain, particularly in businesses serving attractive end markets like healthcare and semiconductor fabrication,” said Brian Murphy, CEO of CLA Meridian Capital. “Superior stood out as a high-performing, founder-led company with both scale and differentiation of capabilities. It was a privilege to partner with their team through a process that positions them for even greater impact.”
The company will continue to operate under the name Superior Duct Fabrication and retain its existing leadership team and workforce.
About Superior Duct Fabrication
Superior Duct Fabrication is a leading manufacturer of commercial and industrial HVAC ducting systems and sheet metal components, specializing in high-specification environments including healthcare, education, and mission-critical infrastructure. Founded in 2002 and headquartered in Pomona, CA, Superior operates five manufacturing facilities nationwide. Learn more at www.sdfab.com.
About Pike Street Capital
Pike Street Capital is a Seattle-based firm specializing in middle-market investments across the industrial technology, specialty manufacturing, distribution and logistics, and business services sectors. The firm leverages an integrated investment and operational approach to drive long-term value creation, working closely with management teams to accelerate growth, enhance capabilities, scale operations, and build market-leading businesses. More at www.pikestreetcapital.com.
About CLA Meridian Capital
CLA Meridian Capital is a leading middle-market investment bank serving business owners across the United States. The firm delivers strategic M&A advisory services with a focus on specialized industrial sectors including HVAC, building systems, and engineered products. Visit meridianib.com for more information.
CLA Meridian Capital Deal Team Contact
Brian Murphy
CEO and Managing Director – Head of Industrials
Bmurphy@meridianib.com
Media Contacts
Andrew Cardillo
Marketing Manager, CLA Meridian Capital
acardillo@meridianib.com
For more information, please contact:
Managing Principal of Investment Banking
Associate
About CLA Meridian Capital
CLA Meridian Capital is the investment banking division of CliftonLarsonAllen (CLA) Wealth Advisors, LLC, an SEC registered investment advisor and broker dealer, member FINRA/SIPC. With 30+ years of middle-market M&A and financial advisory experience, $22 billion in total transaction value, and deep industry knowledge across the Consumer, Industrials, and Technology sectors, CLA Meridian Capital helps our clients preserve the value they’ve built and the legacies they leave behind.
