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
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 .