Averon Group Launches as National HVAC Distribution Platform and Announces Investment in Fenco Supply

DALLAS--(BUSINESS WIRE)--Averon Group, a national HVAC distribution platform backed by Trinity Hunt Partners, today announced its launch and investment in Fenco Supply. The addition of Fenco Supply as the platform's second partner company, following its June 2025 investment in Blackhawk Supply, expands Averon Group's service footprint into the Southeast as it builds a nationwide network of independent HVAC distributors serving mechanical contractors and facility managers.

Averon Group partners with independent HVAC distributors to build a national network focused on high product availability, on-time delivery excellence, and expert customer service through both traditional branch-based and e-commerce service channels. The platform provides resources and operational support to accelerate growth while maintaining each partner company's local expertise and culture. Addressing a significant opportunity in the $65 billion HVAC distribution industry, Averon Group solves for the fact that independent distributors often lack the resources, talent, capital, systems, or succession plans needed to compete at scale.

Fenco Supply is a multi-generation, family-owned distributor of HVAC equipment, parts, and supplies serving contractors and facility managers throughout Eastern Tennessee. The company has built extensive customer relationships through a highly tenured team averaging over 30 years of experience and maintains a strong vendor network, positioning it as a trusted one-stop resource. Fenco Supply will continue to operate under its established brand, and Michael Fennell will continue in his role as President, ensuring continuity of customer service and company culture.

"We are building a national leader by bringing together best-in-class independent HVAC distributors that share a strong commitment to customer service, operational excellence, and supporting their people," shared Troy Vellinga, CEO of Averon Group. "Fenco Supply's 53-year history and strong customer relationships, combined with their experienced team and reputation for reliable service, represent exactly the type of established and successful distributor we seek to partner with. With Blackhawk Supply and now Fenco Supply forming the foundation, Averon Group is demonstrating strong early momentum as a differentiated platform in the HVAC distribution sector. We're excited to welcome Fenco to Averon and continue building this network.”

Fenco Supply's addition strengthens Averon Group's presence in the Southeast and provides the platform with an established customer base and vendor relationships in a key growth region.

“This partnership represents an exciting new chapter for Fenco Supply and our team," said Michael Fennell, President of Fenco Supply. "In a highly fragmented industry, we are fortunate to join forces with partners who understand our vision and will work alongside us to strengthen our market position and expand our capabilities, including serving customers digitally. With Averon Group's support, we can preserve the customer relationships and service approach we've built over five decades while gaining the resources, capital, and systems needed to accelerate our growth and competitiveness. We are proud to be part of this platform alongside Troy and his team to better serve our customer base and create new opportunities for our employees."

Averon Group is actively pursuing partnerships with independent HVAC distributors and adjacent product line providers nationwide. For more information about Averon Group's strategy and M&A opportunities, visit www.theaverongroup.com.

ABOUT FENCO SUPPLY

Fenco Supply is a multi-generation, family-owned distributor of HVAC equipment, parts, and supplies serving contractors and facility managers throughout Eastern Tennessee. With over 50 years in the HVAC industry, the company has built a reputation for exceptional customer service, technical expertise, and reliable product availability. Fenco Supply operates locations in Knoxville, Sevierville, Morristown, and Gray, Tennessee, serving as a trusted one-stop resource for HVAC contractors in the region. For more information, visit www.fencosupply.com.

ABOUT AVERON GROUP

Averon Group is a national HVAC distribution platform serving mechanical contractors and facility managers through operations in the Midwest and Southeast. The company provides HVAC equipment, parts, and supplies, along with adjacent products in building automation, electrical, and plumbing. Backed by Trinity Hunt Partners, Averon Group is building a network of independent distributors committed to growth and operational excellence. For more information, visit www.theaverongroup.com.

ABOUT TRINITY HUNT PARTNERS

Trinity Hunt Partners is a growth-oriented private equity firm with over $2 billion of assets under management focused on building leading B2B and B2C services companies. Trinity Hunt’s mission is to provide the talent and strategic, operational, and financial capabilities needed to build entrepreneurial services companies into market leaders. Trinity Hunt was ranked tenth amongst all firms worldwide on HEC-Dow Jones’ most recent Top Small-Cap Buyout Firms List (2024), which ranks firms based on their performance for investors across funds raised over a 10-year periodⁱ. For more information, visit www.trinityhunt.com.