AI-driven Full-Service Business Contextual.io Complements Southfield Capital's Mission to Enhance Value Creation for Founders and Manager-Owners
GREENWICH, CT – Southfield Capital, a premier lower middle market private equity firm, announced today that Kelvin Group, (“Kelvin”), a leading national provider of industrial and commercial mission-critical mechanical refrigeration services, process safety management and environmental compliance, has completed the acquisition of PermaCold Engineering, Inc. (“PermaCold”), a premier industrial refrigeration company headquartered in the Pacific Northwest. The acquisition of PermaCold represents Kelvin’s fourteenth acquisition since partnering with Southfield. Founded more than 30 years ago by industry pioneers, Steve Jackson and Randy Cieloha, PermaCold has built a reputation for excellence, innovation and reliability in the industrial refrigeration industry. The company is widely recognized for its expertise in ammonia and CO2 refrigeration systems as well as its ability to deliver complex, high-performance solutions to clients across the western United States. The integration of PermaCold into Kelvin Group's family of companies, which features reputable brands such as ARC Mechanical, Refrigeration Design & Service (RD&S), RC&E, HCG Associates, and JS Compliance, further solidifies Kelvin's standing as a national provider of mission-critical mechanical services. “Kelvin’s acquisition of PermaCold represents an exciting milestone as the company continues its national expansion strategy by entering the Pacific Northwest. PermaCold’s deep technical expertise, admired technician team and customer service focus makes them a natural partner for Kelvin,” said Harry Gray, CEO of Kelvin Group. “Together, we look forward to offering an enhanced set of capabilities to support our combined customer base.” “When we decided to sell, Randy and I were adamant in locating an organization that shares our company’s culture and values relating to customers and employees, and Kelvin more than achieved this goal,” said Steve Jackson, “We’re excited to leverage Kelvin’s national footprint to better serve our customers while staying true to the values that have guided us for more than 30 years.” Southfield Partner, Chris Grambling, commented on the transaction, "We are delighted to welcome the PermaCold team to the Kelvin family. PermaCold has built a phenomenal reputation in the Pacific Northwest and their addition bolsters Kelvin’s geographic coverage, establishing Kelvin as a coast-to-coast mechanical services provider." Deerpath Capital Management and Crescent Capital provided debt financing. G2 Capital Advisors served as the buy-side advisor to Kelvin. Finn, Dixon & Herling provided legal counsel to Kelvin and Southfield Capital. About Kelvin Group Kelvin Group is a national leader in the field of industrial and commercial mission-critical mechanical services, process safety management and environmental compliance. Its turnkey solutions provide design/installation, service and planned maintenance and testing and compliance 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, Kelvin 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 business services sector. The firm targets companies with $4 - 20 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 .
GREENWICH, CT - Southfield Capital, a leading lower middle market private equity firm, announced today its partnership with Ntiva Inc., a full-service provider of managed IT services for small and medium-sized businesses. Ntiva’s founder and CEO, Steven Freidkin, along with the Ntiva management team will be continuing in their current roles. Headquartered in McLean, Virginia, Ntiva provides a full suite of outsourced IT services, including onsite support, remote monitoring, cloud services, backup and disaster recovery, and strategic consulting. The company enables its customers to outsource their IT infrastructure, allowing them to improve their performance, reduce costs and enhance security. Ntiva CEO, Steven Freidkin, commented, “Ntiva today is recognized as one of the fastest growing MSPs in the nation mostly due to our continued focus on customer satisfaction and success. As the industry grows, we want to remain one of the top players and we believe this requires a continued commitment to growing people. In order to achieve our goal, we needed to partner with a firm that can assist us with appropriately scaling our organization and executing complementary acquisition opportunities. The partner also needed to share our organizational values and focus on growing people. After an exhaustive search, we are excited to partner with Southfield Capital, a firm that has experience in guiding companies like Ntiva through the next phase of growth and shares our people first approach.” Southfield Partner, Heb James, commented, “The managed IT services industry should benefit from the continued transition of small and medium-sized businesses to outsourced IT management and cloud-based services and from the growing focus on improving data security. Significant opportunity exists for a mid-market focused MSP that understands the sector specific needs of its clients and has the infrastructure to deliver. Ntiva is an exemplary outsourced IT provider with its talented team, deep sector and functional expertise and vast referral network of satisfied clients. Steven, the founder, has clearly built a very impressive business and we are excited to have the opportunity to work with such a successful entrepreneur to continue to expand the company’s footprint.” Crestline Investors provided debt financing. Finn Dixon & Herling provided legal counsel to Southfield Capital. About Southfield Capital Southfield Capital is a private equity firm that invests in exceptional, growing companies in the lower middle market. The firm makes control investments in North American companies generating $4 - 12 million in EBITDA with proven business models, attractive growth and profitability trends, and strong leadership. For more information, please visit www.southfieldcapital.com . Contact Heb James, Partner Southfield Capital (203) 813-4113 hjames@southfieldcapital.com
GREENWICH, CT – Vanguard Dealer Services, a portfolio company of Southfield Capital, announced an investment in Centurion Automotive Products Inc. (“Centurion” or “the Company”), a regional agent of finance and insurance (“F&I”) products and services to automobile dealerships in the Northeast. Senior management invested alongside Vanguard and will continue in their operational roles. Centurion, located in Syracuse, NY, offers third party vehicle service contracts and consulting services focused on enhancing dealership profitability. The Company also distributes vehicle appearance protection products. Centurion has a long history of delivering industry leading income development and sales training to F&I departments throughout the Northeast. Mark Fiorini, CEO of Centurion, commented, “The Centurion team is very excited about our new partnership with Vanguard and Southfield. Our team is energized and focused on Vanguard's aggressive growth strategy. We look forward to the future, and anticipate the mutual success of our new team and our long term dealer partners.” “We are very excited to partner with an organization with such deep roots in the F&I industry. Centurion’s long history in the Northeast is a testament to its customer-centric focus and the value it creates for the dealers it services. Mark Fiorini and his team are excellent additions to the Vanguard platform and we will look to leverage them in our ongoing pursuit to create a best-in-class service offering,” said Jim Polley, CEO of Vanguard. East West Bank provided the senior debt financing. Finn Dixon & Herling acted as legal advisor to Vanguard. About Vanguard Headquartered in Fairfield, NJ, Vanguard Dealers Services is a premier agent and administrator of F&I products and services to automobile dealers nationwide. Vanguard offers a full suite of proprietary and third party auto extended warranty products, F&I consulting and reinsurance services focused on enhancing dealership profitability. Vanguard’s value-added services include, F&I training, compensation plan development, dealer incentive management, compliance review, sales strategy and F&I specialist staffing. About Southfield Capital Southfield Capital is a private equity firm that invests in exceptional, growing companies in the lower middle market. The firm makes control investments in North American companies generating $4 - 12 million in EBITDA with proven business models, attractive growth and profitability trends, and strong leadership. For more information, please visit www.southfieldcapital.com Contact Andy Cook, Partner Southfield Capital (203) 813-4100 acook@southfieldcapital.com