Investcorp, a global alternative investment firm, completed the investment in Shearer Supply, an independent distributor of HVAC equipment for residential and commercial properties. Financial terms were not disclosed. "Shearer operates in a large, resilient and highly fragmented market driven by non-discretionary replacement demand and will continue to benefit from strong secular tailwinds including an aging housing stock, shortening replacement cycles and favorable regulation, in addition to its attractive Southern US geographic footprint. We are excited to partner with the Shearer family to drive organic growth and further expansion. We have experienced robust activity across our North American Private Equity platform this year, underscoring the strength of our strategy in partnering with growing, founder-led businesses as they look to scale their businesses," Dave Tayeh, Investcorp Head of Private Equity of North America.