BOSTON & SAN FRANCISCO--(BUSINESS WIRE)--Audax Private Equity (“Audax”), in partnership with management, has completed the sale of CoolSys, Inc. (“CoolSys”) to the Private Equity Group of Ares Management Corporation. Terms of the transaction were not disclosed.
Headquartered in Brea, CA, CoolSys is a leading refrigeration and HVAC services company and provides a full spectrum of services and solutions to customers in the retail, food service, commercial and industrial market segments. CoolSys and its operating businesses cover every stage of mission-critical systems through engineering and design, installation, service and maintenance, and energy optimization. Since its founding in 2001, CoolSys has grown to employ more than 2,000 individuals who serve more than 4,000 customers across 30,000 individual locations in North America.
Geoffrey S. Rehnert, Co-Chief Executive Officer, Audax Group, said, “We are proud to have supported Adam Coffey and the CoolSys team in creating a leading platform within the refrigeration and HVAC services space. With a national geographic footprint, CoolSys is able to provide exceptional service to both local and national brands. We wish continued growth and success for the CoolSys team with their new partner.”
Adam Coffey, CEO of CoolSys, said, “Audax has been instrumental in helping to grow CoolSys. Together we have assembled a world-class management team and successfully completed eight add-on acquisitions to develop a national footprint and a full range of service offerings across the lifecycle of refrigeration and HVAC services. We believe that the Company is well positioned to continue our growth trajectory and we look forward to partnering with Ares Management.”
Lincoln International, Focal Point Partners, Kirkland & Ellis LLP, and Fredrikson & Byron, P.A. served as advisors to CoolSys.
ABOUT AUDAX PRIVATE EQUITY
Since its founding in 1999, Audax
Private Equity has been focused on building leading middle market
companies. Audax has invested $5 billion in 120 platform and 750 add-on
companies. Through its disciplined Buy & Build approach, Audax seeks to
help platform companies execute add-on acquisitions that fuel revenue
growth, optimize operations, and significantly increase equity value.
Audax Group is an alternative asset management firm specializing in
investments in middle market companies. With offices in Boston, New
York, and San Francisco, Audax Group has $13.0 billion in assets under
management across its Private Equity, Mezzanine, and Senior Debt
businesses. For more information, visit the Audax Group website www.audaxgroup.com.
ABOUT COOLSYS
CoolSys is a market-leading refrigeration and
HVAC services company, specializing in a full spectrum of best-in-class
service experiences and solutions for customers in the retail, food
service, commercial and industrial market segments. CoolSys and its
operating businesses cover every stage of mission-critical systems
through engineering and design, installation, service and maintenance,
and energy optimization. Headquartered in Southern California, CoolSys
has more than 1,400 highly trained, field-based service and installation
experts serving the daily needs of more than 4,000 customers across
North America. For additional information, please visit www.coolsys.com.
