Indianapolis-based Indiana Supply Corp., a distributor of heating and air-conditioning equipment, has been acquired by Gustave A. Larson Co. of Pewaukee, Wis.
Terms of the deal, which closed April 24, were not disclosed.
Indiana Supply, based in an 85,000-square-foot facility at 3835 E. 21st St., has branches in Fort Wayne and South Bend. The company, which was founded in 1955, sells York residential and commercial HVAC equipment, among other products.
Former Indiana Supply owner Stan Hurt, well known in the local arts community, is no longer involved in operations. He declined to comment on the sale, citing confidentiality agreements.
Hurt sits on the boards of Conner Prairie and the Eiteljorg Museum of American Indians and Western Art, and sits on the Arts Council of Indianapolis Inc. advisory board.
Indiana Supply’s management team, including President David Draga, will remain in place, however. The company has about 100 employees in its three locations.
“We intend to try and keep service as seamless as possible,” Draga said in a written statement. “We believe that people do business with people, and we don’t want to disrupt these important relationships.”
Indiana Supply’s “great reputation” with its customers and suppliers should complement Larson’s long-term growth strategy of acquiring quality companies, CEO Andrew G. Larson said in a written statement.
Larson has 48 locations in 18 states, many of which are in the Midwest.
Indiana Supply was founded by Bob Hurt, Stan’s father, and originally sold sheet metal and supplies. It began operating in Fort Wayne in 1990 and in South Bend in 2001.