GI Partners and Charlesbank Capital Partners to invest in American Residential Services.

Private equity firms GI Partners and Charlesbank Capital Partners agreed to invest in American Residential Services, a provider of residential heating, ventilation, air conditioning and plumbing services. Financial terms were not disclosed. "We have great appreciation for the business that the team has built and have been impressed by the growth and resiliency evidenced by the Company to date. We are very excited to partner with management and Charlesbank to accelerate positive change and execute on the significant opportunities ahead," Hoon Cho, GI Partners Managing Director.