American Refrigeration Company and Southfield Capital Announce the Strategic Acquisition of Global Mechanical
GREENWICH, Conn., Nov. 10, 2021 /PRNewswire/ -- Southfield Capital, a premier lower middle market private equity firm, announced today that American Refrigeration Company, ("ARC" or the "Company") the largest independent commercial and industrial mission critical mechanical services company in New England, has completed the acquisition of Global Mechanical ("Global"), a regional leader in the design, installation, and service of commercial refrigeration and HVAC systems in New England.
Global Mechanical provides a full range of commercial mechanical services to commercial, institutional, and industrial customers. Its cross-disciplinary expertise can be leveraged across systems that usually integrate more than one aspect of mechanical services, such as HVAC, controls, and refrigeration. Global provides services to a range of end markets, including retail, industrial, food services, hospitality, and institutional. Global is headquartered in Newburyport, MA.
"We're delighted to welcome the Global Mechanical team to the ARC family," said Bill Fleming, President, ARC. "Adding Global Mechanical's leadership, field service depth, and experience to our existing team will undoubtedly enhance the mission-critical supply chain solutions we currently provide to the region."
"We're thrilled to join a company like ARC with an impeccable reputation in the marketplace and support the expansion of their operations and capabilities for our customers," said Peter O'Brien, President & CEO. "ARC's commitment to providing the highest quality services and maintenance is a perfect match with our approach to customer satisfaction. Integrating our two companies was a great opportunity and we look forward to being part of a winning team with the goal of achieving the highest client satisfaction in New England."
Southfield Principal, Chris Grambling, commented on the transaction, "We are excited to partner with Peter O'Brien and the Global Mechanical team. The Global acquisition helps accelerate ARC's build out of its commercial refrigeration and HVAC capabilities, enhancing the service offering ARC can provide its existing customers."
Deerpath Capital Management provided debt financing. Finn, Dixon & Herling provided legal counsel to ARC and Southfield Capital.
About ARC
American Refrigeration Company is the largest independent commercial and industrial mission critical mechanical services company in New England. ARC is a leading provider of refrigeration and HVAC system design, installation, and aftermarket support. In addition to providing new systems solutions, equipment maintenance and repair for industrial and commercial refrigeration and HVAC installations, ARC provides alternative refrigerant evaluations, freezing/cooling response assessments, energy studies, and compliance consultation.
For more information, please visit www.arc.cool.
About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 – 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies.
For more information, please visit www.southfieldcapital.com.
Our Team:
Andy Levison, Managing Partner
Andy Cook, Partner
Heb James, Partner
Tim Lewis, Partner
Brandon Pinderhughes, Principal
Chris Grambling, Principal
Josh Sylvan, Vice President
Logan Vorwerk, Associate
Mike Weber, Associate
Matt King, Associate
Jon Goldstein, Chief Financial Officer
Southfield Capital
140 Greenwich Avenue
Greenwich, CT 06830
Phone: 203.813.4100
Fax: 203.813.4141
www.southfieldcapital.com
SOURCE Southfield Capital
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