Foundral, a newly formed platform dedicated to building and rapidly scaling a family of union-backed mechanical contracting companies, announced its official launch. Integrating experienced teams throughout the Midwest and surrounding growth markets and supporting them with a support structure, Foundral aims to build the essential infrastructure of tomorrow.

Backed by private equity sponsor McNally Capital, the platform builds on the success and legacy of an existing McNally Capital portfolio company: Smith & Oby. Smith & Oby, along with its wholly owned subsidiary DSO, are two respected names in commercial mechanical contracting. Smith & Oby is a staple of Ohio’s construction industry, with a history that extends back to 1898; based in West Virginia, DSO has completed more than 100 major projects over the past decade.

“We are committed to the vision of creating the leading commercial HVAC player in the Midwest and beyond,” said Ravi Shah, partner at McNally Capital. “Foundral is bringing together some of the most respected and accomplished mechanical contractors in the country and equipping them with the back-end capabilities that allow them to preserve their lineage while accelerating growth and modernization. These are the contractors who have built the cities and skylines around us — and now they’re uniting to build a stronger future.”

Foundral has appointed Jason Richards as executive chairman of the Board and Chief Executive Officer. With more than 33 years of experience in the infrastructure services sector, Richards has led the strategic growth and operational excellence of multiple businesses. A mechanical and licensed professional engineer, he brings deep expertise in mechanical, electrical, building controls and energy service solutions, delivering innovative results for general contractors and building owners alike. 

“At Foundral, we believe the best way to create long-term value is by honoring the legacy of great companies while giving their employees the support and resources they need to thrive,” said Richards. “We’re building from a position of strength with Smith & Oby and DSO by buying quality companies, integrating them thoughtfully and providing a solid foundation for sustainable success. That’s how we’re creating value for contractors and their clients, as well as for our investors.”

Foundral’s acquisition strategy targets leading commercial mechanical contracting companies across traditional Midwestern states and neighboring regions. The platform focuses on organizations with a strong HVAC specialty, union-based labor, strong workforce depth and annual revenues of at least $25 million. Ideal partners are those serving progressive end markets, such as data centers, hospitals, manufacturing, colleges and universities and those positioned for the next wave of infrastructure expansion.

“With a surge of data centers and other advanced facilities planned, permitted, and approved across the Midwest, we expect to play a significant role in supporting the region’s growing digital infrastructure needs,” Richards said. “We’re in the heart of America’s fast-growing commercial hubs, and we’re bringing the capabilities, expertise and talent required to deliver on these critical projects.”