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CoolSys (formerly Source Refrigeration & HVAC)

Verified

Platform

Brea, CA, US
RefrigerationHvac

National commercial refrigeration/HVAC services platform; Audax (2015) renamed Source Refrigeration to CoolSys, sold to Ares in 2019.

Headquarters

US hq by state Alaska: no recorded hq Alabama: no recorded hq Arkansas: no recorded hq Arizona: no recorded hq California: 1 hq Colorado: no recorded hq Connecticut: no recorded hq District of Columbia: no recorded hq Delaware: no recorded hq Florida: no recorded hq Georgia: no recorded hq Hawaii: no recorded hq Iowa: no recorded hq Idaho: no recorded hq Illinois: no recorded hq Indiana: no recorded hq Kansas: no recorded hq Kentucky: no recorded hq Louisiana: no recorded hq Massachusetts: no recorded hq Maryland: no recorded hq Maine: no recorded hq Michigan: no recorded hq Minnesota: no recorded hq Missouri: no recorded hq Mississippi: no recorded hq Montana: no recorded hq North Carolina: no recorded hq North Dakota: no recorded hq Nebraska: no recorded hq New Hampshire: no recorded hq New Jersey: no recorded hq New Mexico: no recorded hq Nevada: no recorded hq New York: no recorded hq Ohio: no recorded hq Oklahoma: no recorded hq Oregon: no recorded hq Pennsylvania: no recorded hq Rhode Island: no recorded hq South Carolina: no recorded hq South Dakota: no recorded hq Tennessee: no recorded hq Texas: no recorded hq Utah: no recorded hq Virginia: no recorded hq Vermont: no recorded hq Washington: no recorded hq Wisconsin: no recorded hq West Virginia: no recorded hq Wyoming: no recorded hq
Headquarters: Brea, CA, US.

Ownership map

Ownership links are documented, evidence-gated edges, shown as reported by their sources. Naming a company is not an accusation against it. See our methodology and legal notes.

Ownership map for CoolSys (formerly Source Refrigeration & HVAC)DivestedDivestedFormerly Known AsFormerly Known AsPart OfPart Ofbacked bybacked bybacked bybacked bybacked byparent ofparent ofparent ofrolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up into1GNITE (Asset Recovery Solutions): Operating Company1GNITE (Asset Recover…Advanced Refrigeration Systems: Operating CompanyARAdvanced Refrigeratio…Air Filtration Co., Inc.: Operating CompanyAir Filtration Co., I…Alure: Operating CompanyALAlureAres Management Corporation: Pe FirmAMAres Management Corpo…Arjae HVAC and Mechanical Services: Operating CompanyArjae HVAC and Mechan…Arsenal Capital Partners: Pe FirmArsenal Capital Partn…Audax Private Equity: Pe FirmAudax Private EquityBRR Refrigeration: Operating CompanyBRR RefrigerationBuilding Air Services: Operating CompanyBuilding Air ServicesC.E. Holt Refrigeration: Operating CompanyC.E. Holt Refrigerati…CMS: PlatformCMCMSCaverion: PlatformCACaverionCertified Refrigeration and Mechanical, Inc.: Operating CompanyCertified Refrigerati…Convergint Technologies: PlatformConvergint Technologi…CoolSys: PlatformCoolSysCoolSys (formerly Source Refrigeration & HVAC): PlatformCFCoolSys (formerly Sou…Distribution International Inc.: PlatformDIDistribution Internat…Dreamstyle: Operating CompanyDRDreamstyleEcolab: Operating CompanyECEcolabFournier Air Conditioning and Refrigeration: Operating CompanyFAFournier Air Conditio…Kinetic Systems Inc.: Operating CompanyKinetic Systems Inc.Lima Company: Operating CompanyLCLima CompanyMinnesota Rusco: Operating CompanyMRMinnesota RuscoPremiStar: PlatformPremiStarReborn: Operating CompanyRERebornReedy Industries: PlatformRIReedy IndustriesRefrigeration Solutions Inc.: Operating CompanyRSRefrigeration Solutio…Remodel USA: Operating CompanyRURemodel USARenovo: PlatformRERenovoRensa Filtration: PlatformRensa FiltrationService Refrigeration LLC: Operating CompanySRService Refrigeration…Smart Care: PlatformSmart CareSmart Care Equipment Solutions: PlatformSmart Care Equipment …Source Refrigeration & HVAC: PlatformSource Refrigeration …T&O Refrigeration: Operating CompanyTOT&O RefrigerationTP Electrical: Operating CompanyTETP ElectricalTech Mechanical: Operating CompanyTech MechanicalThermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO): Operating CompanyTRThermal Resource Sale…Thermogenics Inc.: PlatformThermogenics Inc.Triangle Refrigeration: Operating CompanyTRTriangle RefrigerationUniversal Refrigeration Inc.: Operating CompanyUniversal Refrigerati…Woodbridge: Operating CompanyWOWoodbridge
Operating CompanyPe FirmPlatform

Ownership

Ownership links are documented, evidence-gated edges, shown as reported by their sources. A verified mark denotes an independently corroborated edge; links shown as reported are drawn as their sources record them and are not independently corroborated. Naming a company is not an accusation against it. See our methodology and legal notes.

Market signals

Acquisition history

Acquisition timeline20132015201720192021202320242013 · Add-on acquisition → Fournier Air Conditioning and Refrigeration (verified)2013 · Add-on acquisition → TP Electrical (verified)2014 · Add-on acquisition → Service Refrigeration LLC (verified)2016 · Add-on acquisition → Advanced Refrigeration Systems (verified)2016 · Add-on acquisition → Refrigeration Solutions Inc. (verified)2019 · Add-on acquisition → Arjae HVAC and Mechanical Services (verified)2019 · Add-on acquisition → BRR Refrigeration2019 · Add-on acquisition → Building Air Services (verified)2021 · Add-on acquisition → Triangle Refrigeration (verified)2021 · Add-on acquisition → C.E. Holt Refrigeration (verified)2021 · Add-on acquisition → T&O Refrigeration (verified)2021 · Add-on acquisition → Thermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO) (verified)2022 · Add-on acquisition → 1GNITE (Asset Recovery Solutions) (verified)2023 · Add-on acquisition → Lima Company2024 · Add-on acquisition → Universal Refrigeration Inc. (verified)
15 recorded deals, 2013–2024verifiedunverified+1 undated (not shown)

Acquisition footprint

US acquired companies by state Alaska: no recorded acquired companies Alabama: no recorded acquired companies Arkansas: no recorded acquired companies Arizona: no recorded acquired companies California: 1 acquired companies Colorado: no recorded acquired companies Connecticut: no recorded acquired companies District of Columbia: no recorded acquired companies Delaware: no recorded acquired companies Florida: 2 acquired companies Georgia: no recorded acquired companies Hawaii: no recorded acquired companies Iowa: no recorded acquired companies Idaho: no recorded acquired companies Illinois: no recorded acquired companies Indiana: no recorded acquired companies Kansas: no recorded acquired companies Kentucky: no recorded acquired companies Louisiana: no recorded acquired companies Massachusetts: no recorded acquired companies Maryland: no recorded acquired companies Maine: no recorded acquired companies Michigan: no recorded acquired companies Minnesota: no recorded acquired companies Missouri: no recorded acquired companies Mississippi: no recorded acquired companies Montana: no recorded acquired companies North Carolina: 1 acquired companies North Dakota: no recorded acquired companies Nebraska: no recorded acquired companies New Hampshire: no recorded acquired companies New Jersey: no recorded acquired companies New Mexico: no recorded acquired companies Nevada: no recorded acquired companies New York: no recorded acquired companies Ohio: no recorded acquired companies Oklahoma: no recorded acquired companies Oregon: no recorded acquired companies Pennsylvania: no recorded acquired companies Rhode Island: no recorded acquired companies South Carolina: no recorded acquired companies South Dakota: no recorded acquired companies Tennessee: no recorded acquired companies Texas: 1 acquired companies Utah: no recorded acquired companies Virginia: 1 acquired companies Vermont: no recorded acquired companies Washington: 1 acquired companies Wisconsin: 2 acquired companies West Virginia: no recorded acquired companies Wyoming: no recorded acquired companies
  1. 1. Florida 2
  2. 2. Wisconsin 2
  3. 3. California 1
  4. 4. North Carolina 1
  5. 5. Texas 1
  6. 6. Virginia 1
  7. 7. Washington 1
1–4 5–14 15–39 40–79 80+ no recorded acquired companies
Where the brands CoolSys (formerly Source Refrigeration & HVAC) acquired are headquartered, by US state. A count of targets, not a market-share claim.

Deals

Add-on acquisition Jan 2022
Verified

CoolSys acquires 1GNITE (Asset Recovery Solutions)

CoolSys (formerly Source Refrigeration & HVAC) → 1GNITE (Asset Recovery Solutions)
Add-on acquisition Nov 2021
Verified

CoolSys acquires Triangle Refrigeration

CoolSys (formerly Source Refrigeration & HVAC) → Triangle Refrigeration
Add-on acquisition Jan 2021
Verified

CoolSys acquires C.E. Holt Refrigeration

CoolSys (formerly Source Refrigeration & HVAC) → C.E. Holt Refrigeration
Majority stake Mar 2019
Verified

Ares Management acquires CoolSys from Audax

Ares Management Corporation → CoolSys (formerly Source Refrigeration & HVAC)
Majority stake Jan 2016
Verified

Audax Private Equity acquires Source Refrigeration & HVAC from Arsenal Capital Partners

Audax Private Equity → CoolSys (formerly Source Refrigeration & HVAC)
Add-on acquisition Sep 2016
Verified

Source Refrigeration & HVAC acquires RSI (Refrigeration Solutions / Advanced Refrigeration Systems)

CoolSys (formerly Source Refrigeration & HVAC) → Advanced Refrigeration Systems
Add-on acquisition Jan 2019
Verified

CoolSys acquires Pacific Northwest HVAC firm Arjae

CoolSys (formerly Source Refrigeration & HVAC) → Arjae HVAC and Mechanical Services
Add-on acquisition Dec 2019

CoolSys acquires BRR Refrigeration (Mid-Atlantic entry)

CoolSys (formerly Source Refrigeration & HVAC) → BRR Refrigeration
Add-on acquisition Oct 2019
Verified

CoolSys acquires Building Air Services, expanding Southeast presence

CoolSys (formerly Source Refrigeration & HVAC) → Building Air Services
Add-on acquisition Undated

CoolSys acquires Certified Refrigeration and Mechanical (CRM)

CoolSys (formerly Source Refrigeration & HVAC) → Certified Refrigeration and Mechanical, Inc.
Add-on acquisition Apr 2013
Verified

PE-backed Source Refrigeration & HVAC (Arsenal Capital Partners) acquires Fournier Air Conditioning and Refrigeration

CoolSys (formerly Source Refrigeration & HVAC) → Fournier Air Conditioning and Refrigeration
Add-on acquisition Aug 2023

CoolSys acquires Lima Company (Mid-Atlantic commercial HVAC/refrigeration)

CoolSys (formerly Source Refrigeration & HVAC) → Lima Company
Add-on acquisition Sep 2016
Verified

Source Refrigeration & HVAC acquires RSI (Refrigeration Solutions / Advanced Refrigeration Systems)

CoolSys (formerly Source Refrigeration & HVAC) → Refrigeration Solutions Inc.
Add-on acquisition May 2014
Verified

Source Refrigeration & HVAC (Arsenal Capital portfolio co) acquires Service Refrigeration in Texas

CoolSys (formerly Source Refrigeration & HVAC) → Service Refrigeration LLC
Add-on acquisition Aug 2021
Verified

CoolSys acquires T&O Refrigeration

CoolSys (formerly Source Refrigeration & HVAC) → T&O Refrigeration
Add-on acquisition May 2021
Verified

CoolSys acquires TRS-SESCO

CoolSys (formerly Source Refrigeration & HVAC) → Thermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO)
Add-on acquisition Mar 2013
Verified

Source Refrigeration & HVAC (Arsenal Capital) acquires TP Electrical

CoolSys (formerly Source Refrigeration & HVAC) → TP Electrical
Add-on acquisition Jun 2024
Verified

CoolSys acquires Universal Refrigeration Inc.

CoolSys (formerly Source Refrigeration & HVAC) → Universal Refrigeration Inc.