CoolSys, a parent of market-leading refrigeration and HVAC services companies nationwide, has acquired Richmond Refrigeration Service, an established commercial refrigeration and air conditioning business serving Virginia, Maryland, North Carolina and West Virginia. This is the second acquisition made by CoolSys in the Mid-Atlantic region in the past seven months, as it continues its M&A growth strategy backed by its private equity investor, Ares Management.
“The acquisition of Richmond Refrigeration complements our acquisition of BRR Refrigeration seven months ago, giving us coverage across the entire state of Virginia while strengthening our presence in Maryland, West Virginia and North Carolina as well,” said Adam Coffey, CEO of CoolSys. “The Richmond Refrigeration team has a long history and excellent reputation in their region, and we are excited to welcome them into the CoolSys family. This is another key step in becoming a true national solutions provider.”
Based in Ashland, Virginia, Richmond Refrigeration Services specializes in the service and installation of a wide range of supermarket refrigeration systems and applications. Its convenience store division provides a full-service team of plumbers, electricians, food service technicians, HVAC/R technicians and maintenance personnel. Both of its service divisions are highly ranked by their major customers who use scoring systems with top key performance indicators (KPIs) that rank them among the highest-performing contractors across the United States.
“We know some of the folks at CoolSys and some of their recent acquisitions, and are very excited to join their growing team,” said John Lollar, president of Richmond Refrigeration Service. “The combination of Richmond’s heritage and reputation with CoolSys’ broad spectrum of solutions will allow us to bring even greater value to our customers and growth opportunities for our employees.”
Second acquisition
Within the past month, CoolSys also acquired Eastern Refrigeration, a commercial refrigeration and HVAC solutions provider serving Connecticut, Rhode Island and Massachusetts. With this acquisition, CoolSys further expanded its growing market presence in the Northeast region.
“…This acquisition is another key step in fulfilling our vision of becoming a national service provider that offers a full-spectrum of best-in-class solutions for mission-critical refrigeration and HVAC systems in light commercial, commercial and industrial markets,” Coffey said. “This strategic acquisition strengthens our market position in the Northeast by providing density in some existing markets and opening up new states for CoolSys.”
Founded in 1975 by company president Pierre “Pete” Belisle, Eastern Refrigeration has expanded over the past four decades to install and service commercial refrigeration and HVAC equipment throughout its region. It specializes in all aspects of supermarket refrigeration, including direct expansion, carbon dioxide and glycol systems, as well as HVAC. Eastern’s comprehensive installation capabilities range from ground-up construction and remodels to control systems and energy management systems.
“We are very excited to become the newest members of the CoolSys family,” said Stan Shumbo, VP of Eastern Refrigeration. “The employee-focused culture of CoolSys is a great fit for the Eastern team, and we look forward to providing our customers with expanded solutions to help them manage their businesses even better.”
Headquartered in Southern California, CoolSys has more than 1,900 highly trained, field-based service and installation experts serving the daily needs of more than 4,000 customers across North America.
