Vancouver, BC – July 13, 2026 – CAI Capital Partners (“CAI”) is pleased to announce that it has completed the sale of its majority interest in Custom Air Conditioning Ltd. (“CustomAir” or the “Company”), a CAI Fund V portfolio company, to Service Logic Holdings Canada Inc. (“Service Logic”). Terms of the transaction were not disclosed.
Founded in 1991 and headquartered in Vancouver, CustomAir is the premier commercial mechanical services provider in British Columbia, delivering HVAC/R, plumbing, and electrical services to a base of over 2,400 active customers across the province from four strategic locations. Founder and CEO Peter Harteveld will continue to lead the business as part of the Service Logic organization.
“Choosing CAI as our partner in 2018 has proven to be a great decision. They did exactly what they said they would, which was help us grow, and the team was a pleasure to work with throughout. I’ll miss our regular interactions,” said Peter Harteveld, CustomAir founder. “We now look forward to the road ahead with Service Logic, who are a natural fit to help us continue that growth.”
CAI acquired its interest in CustomAir in 2018. Over the past eight years, CAI supported management in scaling the business through both organic growth and a disciplined M&A program, completing five tuck-in acquisitions that expanded CustomAir’s geographic footprint and broadened its service capabilities.
Curtis Johansson, Partner at CAI, said, “Our partnership with Peter and his team has been remarkable, culminating in one of the best returns in CAI’s history, and we are grateful to have had the opportunity. We accomplished a great deal together, and we look forward to seeing all the future success Peter and the team will have as part of Service Logic.”
CAI and CustomAir were advised by BMO Capital Markets (financial advisor), Blake, Cassels & Graydon LLP (legal counsel), RSM Canada Consulting LP (transaction services), and Alvarez & Marsal Canada (tax).
About CustomAir
Founded in 1991 and headquartered in Vancouver, British Columbia, CustomAir is the premier commercial mechanical services provider in British Columbia, offering HVAC/R, plumbing, and electrical services across the province. From four strategic locations, the Company serves a diversified base of over 2,400 commercial, institutional, and hospitality customers, supported by a team of over 100 highly skilled technicians. CustomAir delivers full-lifecycle service, repair, and retrofit solutions under its guiding principle: “The Difference is Service.” www.customair.ca
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian and US lower middle market. Over three decades, CAI has invested approximately C$1.6 billion of equity capital into companies across North America. For additional information, please visit www.caifunds.com.
For further information please contact:
Curtis Johansson
Partner, CAI Capital Partners
604-694-2527
Date: July 13, 2026
