In its fifth acquisition in as many years, a Chattanooga-based equity investment firm has acquired one of the region’s top boiler services and parts suppliers.
announced Tuesday it has purchased Combustion & Control Solutions (CCS), a 17-year-old boiler services company that has grown to more than $6 million in annual sales and more than 30 employees in Chattanooga and its Nashville sales office. David Allen Tripp, who jointly owned the company along with Scott Overturf, sold the business this month and is retiring from the company. Overturf will stay with the company as operations manager.
David Flowers, who previously led the sales and engineering groups at CCS, has been elevated to CEO as part of the ownership change. Despite the ongoing challenges of the pandemic, Flowers and Alderman principals said they expect to grow the business and staff over time with additional investments and marketing through the larger Alderman business.
Alderman specializes in buying mature, profitable businesses in traditional manufacturing or distribution sectors in and around Chattanooga, including Southeastern Tool & Design acquired in 2016, Dal Industries bought in 2018, and Edwin Bohr Electronics acquired last year. Alderman also bought Majestic Stone in 2016 but sold that business last year.