Service Net Warranty, LLC, Jeffersonville, IN, a leading administrator of service warranty programs, has entered into a court-approved agreement to acquire the assets of Equiguard, Inc., Westmount, IL. The acquisition was expected to close on December 31st, 2009. Equiguard is a leader in providing extended warranty programs to the HVAC industry.
Equiguard was co-founded by current President/CEO Craig Funke, in 1989. It’s grown to be a leading provider of extended warranty plans for original equipment manufacturers, distributors, and contractors in the HVAC industry.
“As a Service Net Company, Equiguard will be strategically positioned to offer a greater level of service to existing and new clients. Additionally, the new business platform and expanded service levels will enable our clients to continue to focus on their core business and can leverage Equiguard to provide an array of value added service products and programs,” says Funke.
“We’re very excited about the acquisition of Equiguard, as it allows us to leverage our existing infrastructure and enter an industry that has significant growth potential,” says Kevin Callahan, CEO of Service Net. “The Equiguard management team has a strong marketing and sales presence, and is well-positioned in the HVAC industry. The combination of Equiguard’s strong industry presence and Service Net’s core operating platform will position us as the premiere leader in the HVAC services industry.”
Service Net Warranty, LLC is owned by H.I.G. Capital. It offers its clients a comprehensive suite of service and extended warranty programs for a variety of consumer products, primarily focusing on major appliances, consumer electronics, personal computers and HVAC equipment.