CoolSys, which is backed by Ares Management Corporation, has acquired Eastern Refrigeration, an commercial refrigeration and HVAC solutions provider serving Connecticut, Rhode Island and Massachusetts. No financial terms were disclosed.
BREA, Calif., June 22, 2020 – 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.”
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.”
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.