Source Refrigeration & HVAC acquired by Arsenal Capital Partners

Source Refrigeration & HVAC (later CoolSys), a leading independent commercial refrigeration services provider in 12 Western states, was acquired by PE firm Arsenal Capital Partners from Valor Equity Management and Denargo Capital. Management retained a meaningful stake.

“Source Refrigeration & HVAC Inc. announced that it has been acquired by Arsenal Capital Partners, a New York-based private equity firm that invests in middle-market manufacturing and services companies. Arsenal acquired Source from Valor Equity Management and Denargo Capital LLC. Source's management will continue to own a meaningful stake in the company.”

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