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Northeast HVAC
News
CoolSys Acquires Eastern
Refrigeration.
Ares-Backed HVAC/R Services Firm Relaunches M&A Growth
Strategy and Furthers Expansion in Northeast Region.
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CoolSys™,
the parent of market-leading refrigeration and HVAC services
companies nationwide, announced that it has acquired Eastern
Refrigeration, a leading commercial refrigeration and HVAC
solutions provider serving Connecticut, Rhode Island and
Massachusetts. With this acquisition, CoolSys further expands
its growing market presence in the Northeast region and resumes
its nationwide expansion in the wake of the COVID-19 pandemic
with the backing of its private equity investor, Ares
Management.
“CoolSys is excited to relaunch our M&A growth strategy with the
acquisition of Eastern Refrigeration. 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,” comments
Adam Coffey, CEO of CoolSys. “This strategic acquisition
strengthens our market position in the Northeast by providing
density in some existing markets and opening up new states for
CoolSys.”
Story
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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,” comments Stan Shumbo, Vice President 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.”
About CoolSys
CoolSys is the 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 from
engineering and design, to installation, service and maintenance,
and energy optimization. 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. For additional information, please
visit
www.coolsys.com.
About Eastern Refrigeration
Based in Colchester, Connecticut, Eastern Refrigeration provides
commercial refrigeration services 24 hours a day, seven days a week
throughout Connecticut, Rhode Island and Massachusetts. Its
technicians are trained in every aspect of commercial refrigeration
and HVAC. They focus on addressing sales, service and installation
needs as efficiently as possible while identifying measures that can
be taken to prevent future maintenance issues. Eastern Refrigeration
serves customers ranging from local markets to big box stores,
including Sam’s Club, Costco, Walmart and Whole Foods among many
others. .
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