Modigent, a Phoenix, Arizona-based operator of HVAC, plumbing and controls companies, has acquired P&E Mechanical, a Waco, Texas-based provider of HVAC and plumbing services, the companies announced July 8. The transaction closed during the second quarter of 2026, though financial terms were not disclosed. P&E Mechanical serves education, healthcare, manufacturing and power generation clients across Central Texas, and its leadership team is remaining in place following the deal.
Founded in 2013 by Paul and Elizabeth Barbieri, P&E Mechanical grew over 13 years from a small family operation into one of the region's most established HVAC and plumbing contractors, built in part on a training and safety program the company credits for producing a skilled technical workforce. The acquisition is Modigent's latest move in Texas, following its recent entry into the Houston market through the acquisition of Southland Mechanical, which has since completed its brand transition to the Modigent name.
P&E Mechanical Built a Waco Presence Over 13 Years
“P&E Mechanical represents everything we value in a partner company,” said Dan Bueschel, chief executive of Modigent. “Paul and Elizabeth built an organization known for its integrity, craftsmanship and commitment to people, and that values alignment made this a great fit from day one. Their reputation throughout Central Texas speaks for itself, and we are excited to support the next phase of their growth while preserving the culture that has made them successful.” Frank Doyle, Modigent's regional president, said Waco and the broader I-35 corridor were priority markets for the company's Texas growth strategy, citing the region's population growth and its ties to the education, healthcare and manufacturing sectors.
Modigent said McLennan County, where Waco is the county seat, has grown more than 16% in population since 2010 and is now home to nearly 274,000 residents, a trend the company said is fueling sustained demand for mechanical services tied to education, healthcare and manufacturing facilities. The company also pointed to broader industry tailwinds, citing an estimate that the U.S. heating and air-conditioning industry will reach $159.4 billion in 2026.
P&E Mechanical Leadership to Stay in Place
Paul Barbieri, P&E Mechanical's co-founder, said the company evaluated several potential partners before choosing Modigent. “We spoke with several organizations, but Modigent stood apart because their leadership truly understands our industry,” Barbieri said. “Modigent's executives have worked in the field and understand firsthand what our technicians, plumbers, installers and project teams experience every day. Just as important, they share our commitment to taking care of people. We weren’t looking for someone to change our culture — we were looking for a partner who would help us strengthen it.” Barbieri added that P&E Mechanical's technicians, plumbers and project teams will continue working with the same local leadership, with the company retaining its name and day-to-day management under the new ownership structure.
With Modigent's backing, P&E Mechanical is expected to gain access to expanded resources, additional employee benefits, technology platforms and fleet management support, along with opportunities to collaborate with other Modigent operating companies on larger and more complex projects. Modigent describes itself as a coast-to-coast portfolio of specialized operating companies delivering mechanical service, energy optimization, analytics and building systems for commercial facilities and complex environments, including data centers, hospitals and manufacturing plants.
The deal is part of a broader wave of consolidation among commercial and light-industrial HVAC and plumbing contractors in Texas, where population growth in secondary metro areas such as Waco, San Antonio and Round Rock has drawn interest from national platforms seeking to expand beyond the state's largest cities. Modigent has said it plans to continue pursuing acquisitions of regional mechanical contractors that serve education, healthcare and manufacturing customers as part of its national growth strategy.
Modigent, headquartered in Phoenix, describes itself as a market leader in infrastructure, technology and energy solutions operating across the HVAC, plumbing and controls industry through a coast-to-coast network of operating companies. The company's Houston-area subsidiary, Southland Mechanical, recently completed its brand transition to the Modigent name after being acquired earlier this year, a step Modigent has said reflects its approach of integrating regional contractors into a shared platform over time rather than replacing local branding immediately after a deal closes. The P&E Mechanical acquisition extends that model into Central Texas, giving Modigent an operating presence in two of the state's fastest-growing regions.
Modigent has not disclosed the total number of operating companies in its portfolio or the purchase price for P&E Mechanical, and neither company indicated whether additional Texas acquisitions are under discussion.
P&E Mechanical is Modigent's second announced acquisition in Texas this year, following the Houston-area purchase of Southland Mechanical, and adds to a series of deals the company has pursued across the HVAC, plumbing and controls space as it builds out a national platform of locally led operating companies.
