GREENWICH, CT - Southfield Capital, a leading lower middle-market private equity firm, announced today its partnership with American Refrigeration Company ("ARC" or the "Company"), the leading industrial refrigeration service provider in New England. ARC's founders, Stephen Giannelli and Michael Sirois, and the rest of the senior management team will be continuing in their current roles. ARC manages industrial refrigeration systems, including regular monitoring and repair, replacement of key system components, and in-house design and engineering. ARC's services are mission critical to its customers who rely on the Company to ensure their facilities are operating continuously and safely. The Company serves market leaders in the food and beverage, pharmaceutical and academic industries, including Trader Joes, Whole Foods, Coca-Cola and Harvard University. ARC's President, Michael Sirois, commented, "As anyone who has started and grown a company will know, bringing someone else into the fold can be a stressful decision. Stephen and I knew that we needed to find a partner that had the expertise to scale up our operation without sacrificing the customer first culture that made us the #1 industrial refrigeration contractor in New England. Following a lengthy, but necessary process, we could not be more excited to partner with Southfield Capital. The natural chemistry and shared business philosophy between our two groups made the choice obvious. Having our key employees spend time with the Southfield team has reinforced this decision and I must say the excitement is contagious!" Southfield Partner, Tim Lewis, commented on the ARC partnership, "Steve and Mike have built an exceptional business around a core of highly skilled employees and a blue chip customer base. ARC has become the leader in industrial refrigeration services throughout New England by consistently delivering high quality, mission critical services. Southfield looks forward to supporting ARC as they build out their team and expand their service offering to better serve their customers. We could not be more enthusiastic to partner with Steve and Mike as the business goes to the next stage." Abacus Finance Group, LLC 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
Tim Lewis, Partner Southfield Capital moderated a panel on Exploring LP Views of the Operating Partner Role. 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
Sale Represents Successful Exit Following Significant Earnings Growth and Value Creation During Southfield’s Period of Investment Greenwich, CT – June 3, 2026 – Southfield Capital (“Southfield”), a premier lower middle market private equity firm, announced today that it has completed the sale of Milrose Consultants (“Milrose” or the “Company”), a leading national provider of code consulting, permit expediting, architecture and engineering, inspection services, and municipal real estate compliance solutions, to Littlejohn & Co. (“Littlejohn”). Terms of the deal were not disclosed. Since partnering with Southfield in 2019, Milrose has achieved significant growth, expanding from a NYC focused company to a leading nationwide provider with over 435 professionals operating from offices in all 50 states. During that time, Milrose increased its earnings by over 7x through the expansion of its sales platform, broadening its services offerings, recruiting a highly-talented management team, and successfully executing 14 strategic add-on acquisitions. Key members of the management team will remain shareholders in partnership with Littlejohn. Southfield’s continuation vehicle transaction with Milrose in 2023 provided existing investors with optional liquidity while reaffirming its conviction in the Company’s strong market position and management team’s long-term strategic growth vision. The sale to Littlejohn represents a successful exit for Southfield’s investors. “Southfield has been an exceptional value-add partner and trusted advisor throughout our time working together,” said Dominic Maurillo, CEO of Milrose since 2021. “Their thoughtful and collaborative approach, together with an unwavering commitment to investing in our people and infrastructure, have helped position Milrose for long-term success. We are grateful for their support and have appreciated their ability to provide a consistently valuable perspective while empowering and trusting us to execute on our growth and operational strategy.” “It has been a pleasure partnering with Dom and the entire Milrose team over the past several years,” said Chris Grambling, Partner at Southfield. “Together, we executed on a shared vision to scale the platform by expanding geographically, broadening the Company’s service offerings, and completing a number of strategic acquisitions to help evolve Milrose into a national leader in building code compliance and consulting. We are proud of what we accomplished alongside Milrose’s management team and believe the Company is well positioned for continued success in the next phase of its growth.” Solomon Partners served as lead financial advisor, Houlihan Lokey served as financial co-advisor, KPMG USA provided transaction advisory services, and Wiggin and Dana LLP served as legal advisor to Milrose in this transaction. About Southfield Capital Southfield Capital is a premier private equity firm with a foundational commitment to driving value at high-growth, lower middle market companies in the business services sector. The firm leverages its deep team of highly-experienced investment, technology and value-creation professionals, combined with fully-integrated AI-driven capabilities to partner with founders and manager-owned teams. For more information, please visit www.southfieldcapital.com About Milrose Consultants Milrose Consultants is the national leader in the field of building code consulting and municipal expediting with headquarters in New York City and offices nationwide. Customers rely on Milrose to provide end-to-end building compliance services that include permitting, code & zoning, regulatory filing, special inspections, façade inspections, due diligence & research, and other compliance solutions. Milrose provides high-end services across various large, growing industries, including commercial, multi-family residential, retail, industrial, healthcare, and academia. For more information, please visit www.milrose.com
Acquisition strengthens Protos’ overall integrated protection solutions offering through the addition of enhanced intelligence, executive protection, and consulting services Greenwich, CT – April 27, 2026 – Southfield Capital (“Southfield”), a premier lower middle market private equity firm, announced today that Security Services Holdings LLC, (“Protos”), a Southfield portfolio company and a leading national tech-enabled managed services security provider in North America, has acquired AT-RISK International (“AT-RISK”), a globally-recognized provider of executive and general protective services, intelligence, and risk consulting services. Since its founding in 2006, Protos has established itself as a leading tech-enabled managed security services provider with a unique service model that provides clients with access to a comprehensive security service network. The partnership with AT-RISK marks a significant milestone in Protos’ long-term strategy of building a category-leading, software-enabled integrated protection platform with substantial reach and a differentiated mix of high-value specialized services designed to address the increasingly complex and evolving security needs of its clients. By acquiring AT-RISK, Protos now has the ability to solidify its position as a market leading provider of off-duty and specialized services, as well as further advance its differentiated managed services provider model. AT-RISK, which was founded in 2013 and is headquartered in Washington D.C., brings deep domain expertise across risk consulting, investigations, threat assessments, global risk monitoring and protective services, including executive, residential, event, and asset protection. These capabilities enhance Protos’ existing platform and position the company to meet rising demand for intelligence-led, end-to-end security solutions among enterprise and high-net-worth clients. “This acquisition marks an important milestone in our growth strategy as we look to continue expanding our addressable market and tap into additional high-growth areas,” said Mark Hjelle, CEO of Protos. “AT-RISK’s specialized capabilities perfectly complement our existing platform, and our combined offering better equips us to continue providing industry leading solutions that allow our clients to navigate their evolving security needs.” Southfield Partner, Brandon Pinderhughes, commented, “Protos continues to execute on its disciplined acquisition strategy focused on building a scaled, differentiated provider of protection solutions. The addition of AT-RISK represents an important step in this evolution, and we are excited to continue supporting Mark and the Protos team in this next phase of the Company’s growth story.” The partnership with AT-RISK represents Protos’ 12th acquisition since partnering with Southfield. About Southfield Capital Southfield Capital is a premier private equity firm with a foundational commitment to driving value at high-growth, lower middle market companies in the business services sector. The firm leverages its deep team of highly-experienced investment, technology and value-creation professionals, combined with fully-integrated AI-driven capabilities to partner with founders and manager-owned teams. For more information, please visit www.southfieldcapital.com About Protos Security Protos Security is a leading tech-enabled managed security services provider offering physical guarding, off-duty officers, specialized and remote monitoring services for a diverse customer base across North America. Through a unique managed services model, clients gain access to a vast and agile provider network for security service delivery. Protos’ unwavering commitment to innovation paired with real-time security program data insights ensures that Protos is a relentless advocate for clients and their people. For more information, please visit www.protossecurity.com