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Add-on acquisition · Closed Jun 2020 Verified

CoolSys acquires Richmond Refrigeration Service (Ares-backed add-on)

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Relationship map for CoolSys acquires Richmond Refrigeration Service (Ares-backed add-on)backsparent ofAres Management Corporation: Pe FirmAMAres Management Corpo…CoolSys: PlatformCoolSysRichmond Refrigeration Service: Operating CompanyRRRichmond Refrigeratio…
Operating CompanyPe FirmPlatform

Parties

Acquirer
CoolSys
Platform
Target
Richmond Refrigeration Service
Operating Company
Sponsor
Ares Management Corporation
Pe Firm

Market signals

Summary

CoolSys, a nationwide refrigeration and HVAC services platform, acquired Richmond Refrigeration Service, a commercial refrigeration and AC business serving Virginia, Maryland, North Carolina and West Virginia. It is the platform's second Mid-Atlantic acquisition in seven months, part of an M&A growth strategy backed by PE investor Ares Management.