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The Master Group

Verified

Platform

US
HvacRefrigeration

PE-backed HVAC/R distributor, Canada's largest independent, expanding across North America through serial acquisitions.

Headquarters: US (outside the US map).

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 The Master GroupDivestedDivestedDivestedPart OfPart OfPart Ofbacked bybacked bymerged withmerged withparent ofparent ofparent ofparent ofparent ofparent ofparent ofparent ofparent ofparent ofparent ofrolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up intorolled up intoAerial: Operating CompanyAerialAir Distribution Technologies: Operating CompanyADAir Distribution Tech…Alloy Enterprises: Operating CompanyAlloy EnterprisesBaymar Supply Ltd.: Operating CompanyBSBaymar Supply Ltd.Berg Inc.: Operating CompanyBerg Inc.Bosch: Operating CompanyBoschBosch Home Comfort: Operating CompanyBosch Home ComfortBristol Compressors Inc.: Operating CompanyBristol Compressors I…CBRE Group, Inc.: PlatformCGCBRE Group, Inc.Cal-Air Inc.: Operating CompanyCal-Air Inc.DCNE: Operating CompanyDCDCNEDantherm: PlatformDADanthermDetcon S. A.: Operating CompanyDSDetcon S. A.EFI Concepts: Operating CompanyECEFI ConceptsEasyIO: Operating CompanyEAEasyIOEnvironmental Technologies Inc.: Operating CompanyETEnvironmental Technol…FM:Systems: Operating CompanyFSFM:SystemsFrivent Inc.: Operating CompanyFIFrivent Inc.Gagnon & Associates: Operating CompanyGAGagnon & AssociatesGlobal Workplace Solutions: Operating CompanyGWGlobal Workplace Solu…Gordon Brothers Industries: Operating CompanyGordon Brothers Indus…Gridlogix: Operating CompanyGRGridlogixGrinnell Mechanical Products: Operating CompanyGMGrinnell Mechanical P…HVAC Supply: Operating CompanyHSHVAC SupplyHart & Cooley: Operating CompanyHart & CooleyHitachi: Operating CompanyHIHitachiHybrid Energy AS: Operating CompanyHEHybrid Energy ASJagara Merger Sub LLC: Operating CompanyJMJagara Merger Sub LLCJohnson Controls: PlatformJohnson ControlsJohnson Controls-Hitachi Air Conditioning: Operating CompanyJohnson Controls-Hita…Lux Products Corporation: Operating CompanyLux Products Corporat…M&A Supply Co. Inc.: Operating CompanyMAM&A Supply Co. Inc.M&M Carnot: PlatformM&M CarnotMC International: Operating CompanyMIMC InternationalNantum AI: Operating CompanyNANantum AINordic Capital: Pe FirmNCNordic CapitalPlastech Engineered Products: Operating CompanyPEPlastech Engineered P…Pro-Tel Inc.: Operating CompanyPTPro-Tel Inc.Procuritas: Pe FirmProcuritasProcuritas Capital Investors V: Pe FirmProcuritas Capital In…Refrigeration Sales Corp.: Operating CompanyRefrigeration Sales C…Ruskin: PlatformRURuskinRuskin Air Management Ltd: Operating CompanyRARuskin Air Management…Silent-Aire: Operating CompanySilent-AireSkymark International Inc.: Operating CompanySkymark International…Soper’s Supply Ltd.: Operating CompanySSSoper’s Supply Ltd.Synchrony: Operating CompanySYSynchronyTermigo: Operating CompanyTETermigoTermo Aire: Operating CompanyTermo AireThe Capital Group: Operating CompanyTCThe Capital GroupThe Hydronics Group Inc.: Operating CompanyTHThe Hydronics Group I…The Master Group: PlatformTMThe Master GroupTomkins plc: PlatformTPTomkins plcTriatek: Operating CompanyTriatekTyco: Operating CompanyTycoYork International: Operating CompanyYIYork International
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 timeline2015201620172018201920202021202220232015 · Add-on acquisition → Frivent Inc.2015 · Add-on acquisition → The Hydronics Group Inc.2016 · Add-on acquisition → Johnson Controls (verified)2019 · Add-on acquisition → Baymar Supply Ltd. (verified)2020 · Majority stake → Soper’s Supply Ltd.2020 · Add-on acquisition → EFI Concepts2021 · Add-on acquisition → Gagnon & Associates2023 · Add-on acquisition → Refrigeration Sales Corp.
8 recorded deals, 2015–2023verifiedunverified

Deals