The Kelvin Group and Southfield Capital Announce the Strategic Acquisition of RD&S
GREENWICH, Conn., Feb. 2, 2022 /PRNewswire/ -- Southfield Capital, a premier lower middle market private equity firm, announced today that The Kelvin Group, ("Kelvin" or the "Company"), a newly launched parent company dedicated to building a collaborative group of the largest independent industrial and commercial mission-critical mechanical services companies in the U.S., has completed the acquisition of Refrigeration Design & Service ("RD&S"), an industrial refrigeration services and design/build provider headquartered in Fairless Hills, PA.
RD&S provides a full line of services to meet the needs of the industrial refrigeration marketplace across the Mid-Atlantic and Southeast. RD&S is based in metropolitan Philadelphia with offices in Wilkes Barre, PA and Deatsville, AL.
The Kelvin Group currently owns American Refrigeration Company ("ARC") and HCG Associates, and maintains oversight capabilities of both companies. Adding RD&S effectively expands the parent company's footprint and service area over a significant portion of the Northeast and into the Mid-Atlantic and Southeast regions of the U.S. Customers of all three companies will benefit from the economies of scale and expanded service offerings now available from The Kelvin Group.
"We're delighted to welcome the RD&S team to the Kelvin family," said Michael Sirois, CEO, The Kelvin Group. "Adding RD&S' leadership, field service depth, and experience to our existing team will undoubtedly enhance the mission-critical industrial refrigeration and supply chain solutions we currently provide."
"We're thrilled to join the growing group of companies within The Kelvin Group and allow our customers and employees to enjoy the benefits of their expanded operations and capabilities," said Bil Sauer, President, RD&S. "The companies operating under Kelvin's oversight share our commitment to providing the highest quality services and maintenance and ensure customer satisfaction. We're honored to be part of a winning team driven to achieve the highest client satisfaction and continue our long standing and mutually beneficial relationship between ARC and RD&S."
Southfield Principal, Chris Grambling, commented on the transaction, "We are excited to partner with RD&S, who share our vision in creating a market leading mechanical services platform. Under the newly branded Kelvin Group parent company, they join ARC and HCG as another critical provider for our customers, ensuring quality and consistency of service in addition to benefits from scale."
Deerpath Capital Management provided debt financing. Finn, Dixon & Herling provided legal counsel to Kelvin and Southfield Capital.
About The Kelvin Group
The Kelvin Group is a leader in the field of industrial and commercial mission-critical mechanical services, process safety management and environmental compliance. Its turnkey solutions provide design/installation and ongoing service and preventative maintenance of world-class mechanical systems for leaders in the food and beverage, cold storage, pharmaceutical, educational, health care, and process industries. Once engaged with customers, it assists business owners achieve mandated health, safety, environmental and regulatory compliance standards.
For more information, please visit www.kelvin.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
Jason Perlroth, Principal & Head of Business Development
Josh Sylvan, Vice President
Logan Vorwerk, Senior Associate
Matt King, Senior Associate
Mike Weber, 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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