CoolSys, a portfolio firm of Audax Private Equity, has reportedly acquired Ron’s Refrigeration & HVAC LLC, a company dealing with HVAC and refrigeration engineering, installation and service, in a bid to consolidate its position in as a market leader.
Industry experts claim that this acquisition would support CoolSys in expanding its national footprint and would establish the company as a leader in the HVAC and refrigeration services sector in the Midwest.
According to Adam Coffey, Chief Executive Officer and President of CoolSys, the inclusion of Ron’s Refrigeration & HVAC in company’s expanding portfolio is a stimulating step towards expansion. Ron’s Refrigeration, established by the Mancl family, has manifested high performance based on customer-centric solutions, which will serve as the foundation for sustained growth in future too, said Coffey. This acquisition would rather reinforce CoolSys’ budding presence in the Midwest, which started in 2017 with the purchase of Certified Refrigeration & Mechanical, Coffey added.
For the record, CoolSys is one of the foremost companies in the refrigeration and HVAC service domain, with headquarters located in Southern California, employing over 1400 highly skilled professionals, field-based installation and service experts, providing services to over 3,500 customers daily, throughout North America.
Ron Mancl, Founder, Ron’s Refrigeration, was quoted stating that the company is rather thrilled to join the CoolSys family of businesses. Mancl further stated that the company has worked hard to establish a robust, customer-focused business in central Wisconsin, and that they are rather pleased about the future prospects that CoolSys family will bring to its customers and employees.
For the uninitiated, Ron’s Refrigeration and HVAC was founded in the year 1973 in Wisconsin Rapids by Bonnie and Ron Mancl. Presently it operates offices in Marshfield, Plover, and Wisconsin Rapids offering air conditioning, heating, electrical, and refrigeration services to residents and businesses in the area, cite credible sources.
According to sources familiar with the development, the financial terms of the deal have not been disclosed yet.