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Ropes & Gray Represents McNally Capital in its Investment in the Smith & Oby Company

Practices: Private Equity, Employment, Real Estate Investments & Transactions, Tax, Leveraged Finance, Mergers & Acquisitions, Securities & Futures Enforcement

Ropes & Gray represented McNally Capital in its investment in The Smith & Oby Company, a leading Midwest HVAC and plumbing mechanical contractor and services provider. Terms of the deal were not disclosed. The transaction was announced on Nov. 7 in a press release. 

McNally Capital focuses on investing in lower middle market businesses with $5 to $30 million in EBITDA in the Aerospace & Defense, Industrial Products & Services, and Business Services industries. McNally invested in Smith & Oby out of the McNally Capital Fund II, the firm’s committed buyout vehicle.

The team representing McNally Capital was led by private equity partner Timothy Castelli (Chicago), and included private equity associate Raxit Shah (Chicago), labor, employment & benefits partner Jennifer Cormier (Boston), tax partners Aaron Harsh and Scott Pinarchick (both of Boston), leveraged finance partner Greg Bauer (Chicago), benefits partner Joshua Lichtenstein (New York), real estate counsel Annise Maguire (Washington, D.C.), senior benefits counsel David Mandel (Boston), mergers & acquisitions counsel Thomas Burke (New York), litigation & enforcement counsel Steven Kaye (Boston) and Lee Gayer (New York) and tax counsel Sara Clevering (Boston).

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