PE Deals

Ares Management-backed CoolSys buys used asset recovery solutions provider 1GNITE

CoolSys is a provider of sustainable refrigeration, HVAC, energy and engineering solutions.

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  • Brian Dick serves as CEO of 1GNITE
  • Established in 1997, Ares Management targets the middle market
  • Ares is headquartered in Los Angeles

CoolSys, which is backed by Ares Management, has acquired 1GNITE, a Frisco, Texas-based provider of used asset recovery solutions for mid-sized and large corporations. No financial terms were disclosed.

CoolSys is a provider of sustainable refrigeration, HVAC, energy and engineering solutions.

Brian Dick serves as CEO of 1GNITE.

“This latest acquisition reflects CoolSys’ commitment to sustainability and expanding cost-effective solutions for our customers,” commented Rick Frier, chairman and CEO interim at CoolSys in a statement. “With 1GNITE, we strengthen our capabilities and build on our lifecycle solutions to offer a new sustainable and financially beneficial approach to asset recovery, equipment decommissioning and recommercing.”

Established in 1997, Ares Management targets the middle market. Ares is headquartered in Los Angeles.