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Ongoing problems take toll on American Residential Services; stock price suffers as management fight flares.
Stock price suffers as management fight flares
American Residential Services is getting deeper into hot water. The Houston-based consolidator in the heating, ventilation and air conditioning industry has been beset by a series of problems since going public through a national roll-up two years ago.
The stock price has plunged, lenders are imposing credit restrictions and former managers are squaring off against current ARS officers in a struggle for control of the company.
In the latest development, the owner of a California HVAC marketing firm acquired by ARS has bought his company back.
Maurice Maio, owner of San Diego-based Maio …
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