Operators of Mechanical Services Businesses in Western Canada
We buy, run and grow established HVAC, plumbing and mechanical contractors. We keep the name on the door.
Our Approach
302 Capital Partners was established to acquire, operate, and accelerate growth on a long-term basis. We have deep experience investing in, growing, and operating successful companies, and are dedicated to serving & operating in the mechanical services landscape
We work with business owners to create a flexible exit plan that will allow you to achieve your short and long-term goals; whether you want to stay involved in the business, achieve a full exit, or transition over time, we will establish a succession plan that works for you.
Unlike many institutional capital providers, such as private equity, we are focused on preserving and sustainably growing your company’s legacy. We are active in the businesses we partner with, and our priority is to stimulate growth while ensuring continuity for your employees, customers, stakeholders, and the brand you have built.
If you would like to learn more about us, chat about your exit strategy or your business in general, please reach out.
Our Difference
Company Legacy: company values and legacy are often not a priority in private equity transactions, or when absorbed into a larger organization. We preserve and grow your legacy.
Commitment: rather than being one of several passively managed portfolio companies or business units, we will are operational & active in the businesses we partner with and will ensure the business & legacy are properly transitioned.
Growth Strategy: our value creation strategy is focused on sustainable growth and stewardship and will not be centered around financial engineering, synergies or significant cost cutting.
Time Horizon: we are focused on being long term operators. Our investment period is not defined by the life of a fund and we have flexibility in how capital is returned to investors.
Our Areas of Focus
Mechanical Services. Exclusively.
302 Capital Partners acquires and operates commercial and residential mechanical services businesses. That is the only thing we do. We are not a generalist fund looking for the next sector; we are operators building one platform, deliberately, in the trade we know.
What we buy
We partner with established mechanical contractors and service companies across the full life cycle of a building's mechanical systems:
HVAC service, maintenance and retrofit
Refrigeration service and installation
Plumbing and hydronics
Controls and building automation
Mechanical design-build and commercial construction
What we look for
Owner-operated businesses with a loyal customer base and a strong local reputation
$2M+ in revenue, with a meaningful recurring service and maintenance component
Skilled technicians and field leaders the owner is proud of
Owners who care about what happens to their people and their name after the sale
Western Canada, with a preference for British Columbia and Alberta
Our Team
Mitch Allen
Currently President at Foster Heating & Cooling, Mac’s Heating, and Westisle Mechanical Services
Mitch founded 302 Capital Partners in 2020 and today leads a mechanical services group of three companies and over 60 technicians across British Columbia. He runs the businesses day to day and leads the group's acquisition work.
Prior to 302, Mitch built a career in finance and private equity working with small and medium-sized business owners across North America on ownership transition, growth and corporate development. He began in investment banking at TD Securities, then joined TriWest Capital Partners, where he worked with management teams at an operational level and served as a board observer with five portfolio companies. Before finance, Mitch founded, operated and sold a residential home services company.
Email: mitch@302capitalpartners.com
Troy Minogue
Troy founded 302 Capital Partners in 2020 and led their legacy industrial platform until 2026.
Born and raised into a family of small business owners, Troy grew up learning how successful businesses should be run by watching his grandmother, mother, and father grow and scale a light manufacturing business and a dance company. Troy spent much of his youth assisting with the management of these family businesses. He later parlayed his family business experience into an entrepreneurial endeavor of his own and started a lawn care and landscaping business.
Email: troy@302capitalpartners.com
Our Companies
Vancouver Island's oldest HVAC company, Foster installed the Island's first heat pump and has been at the front of the industry ever since. Foster serves commercial and residential customers across Greater Victoria and the Island, with a deep bench in commercial service and maintenance, hydronics, commercial construction and residential heat pump installation.
A Victoria institution for over 65 years, Mac's is a Class "A" Boiler Contractor with deep expertise in commercial boilers, hydronics, steam, domestic hot water, pumps, building ventilation and commercial plumbing. Mac's serves property managers, institutions and industry across Vancouver Island and anchors the group's commercial heating and plumbing capability.
Serving the mid-Island from three locations, Westisle handles residential and commercial HVAC, furnaces, air conditioning, boilers, refrigeration, heat pumps and rooftop units, with 24/7 emergency service. In 2026 Westisle welcomed Mercury Refrigeration into its operations, extending its service base across the region.
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