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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)DivestedFormerly Known Asbacked bybacked bybacked bybacked bybacked byparent ofparent ofrolled up intorolled up intorolled up into1GNITE (Asset Recovery Solutions): Operating Company1A1GNITE (Asset Recover…Advanced Refrigeration Systems: Operating CompanyARAdvanced Refrigeratio…Ares Management Corporation: Pe FirmAMAres Management Corpo…Arjae HVAC and Mechanical Services: Operating CompanyAHArjae HVAC and Mechan…Arsenal Capital Partners: Pe FirmArsenal Capital Partn…Audax Private Equity: Pe FirmAudax Private EquityBRR Refrigeration: Operating CompanyBRR RefrigerationBuilding Air Services: Operating CompanyBABuilding Air ServicesC.E. Holt Refrigeration: Operating CompanyCEC.E. Holt Refrigerati…CMS: PlatformCMCMSCertified Refrigeration and Mechanical, Inc.: Operating CompanyCRCertified Refrigerati…Convergint Technologies: PlatformCTConvergint Technologi…CoolSys: PlatformCoolSysCoolSys (formerly Source Refrigeration & HVAC): PlatformCFCoolSys (formerly Sou…Distribution International Inc.: PlatformDIDistribution Internat…Fournier Air Conditioning and Refrigeration: Operating CompanyFAFournier Air Conditio…Lima Company: Operating CompanyLCLima CompanyMeridian Adhesives Group: PlatformMAMeridian Adhesives Gr…PremiStar: PlatformPRPremiStarReedy Industries: PlatformRIReedy IndustriesRefrigeration Solutions Inc.: Operating CompanyRSRefrigeration Solutio…Rensa Filtration: PlatformRFRensa FiltrationService Refrigeration LLC: Operating CompanySRService Refrigeration…Smart Care Equipment Solutions: PlatformSCSmart Care Equipment …Source Refrigeration & HVAC: PlatformSRSource 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.: PlatformTIThermogenics Inc.Triangle Refrigeration: Operating CompanyTriangle RefrigerationUniversal Refrigeration Inc.: Operating CompanyUniversal Refrigerati…
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 Refrigeration2013 · Add-on acquisition → TP Electrical2014 · Add-on acquisition → Service Refrigeration LLC2016 · Add-on acquisition → Refrigeration Solutions Inc.2019 · Add-on acquisition → Arjae HVAC and Mechanical Services2019 · 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 Refrigeration2021 · Add-on acquisition → Thermal Resource Sales and Supermarket Environment Services Company (TRS-SESCO)2022 · Add-on acquisition → 1GNITE (Asset Recovery Solutions) (verified)2023 · Add-on acquisition → Lima Company2024 · Add-on acquisition → Universal Refrigeration Inc.
14 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 Jan 2016

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

Audax Private Equity → CoolSys (formerly Source Refrigeration & HVAC)
Majority stake Feb 2020

Ares Management Acquires CoolSys from Audax

Ares Management Corporation → CoolSys (formerly Source Refrigeration & HVAC)
Add-on acquisition Jan 2019

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

CoolSys acquires Certified Refrigeration and Mechanical (CRM)

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

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

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

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

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

CoolSys acquires T&O Refrigeration

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

CoolSys acquires TRS-SESCO

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

Source Refrigeration & HVAC (Arsenal Capital) acquires TP Electrical

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

CoolSys acquires Universal Refrigeration Inc.

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