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Baum Capital sells Goettl to Cortec Group

Private investment firm Baum Capital Partners has sold Goettl Home Services (Goettl) to investment funds affiliated with Cortec Group.

Terms of the transaction, which was led by Cortec Group Fund VII, in partnership with Goetl CEO Ken Goodrich and his management team, have not been disclosed.

Headquartered in Las Vegas, Nevada, Goettl is a provider of residential HVAC and plumbing maintenance, repair and replacement services.  

The Goettl investment represents the fifth platform in Cortec Fund VII, a USD2.1 billion fund which closed in November 2019.  Paul Hastings LLP served as legal advisor to Cortec. Senior debt to support the investment was provided by Golub Capital and Adams Street Partners.  

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