Master Group, which is backed by Novacap, has acquired Value Added Distributors, a Midlothian, Virginia-based provider of heating, ventilation and air conditioning solutions. No financial terms were disclosed. Based in Boucherville, Quebec, Master Group is a heating, ventilation, air conditioning and refrigeration products distributor.
Boucherville, December 13, 2021 – The Master Group Inc., Canada’s leading HVAC-R distributor, is excited to announce its entry into the United States with the acquisition of Value Added Distributors (VAD), a recognized and established HVAC solutions provider in the United States.
Headquartered in Midlothian, Virginia, Value Added Distributors is the parent company of three large regional HVAC distributors, Virginia Air Distributors, Allied HVAC Distributors and South Carolina Air Distributors, with 19 branches and nearly 200 employees in 6 states (Virginia, West Virginia, North Carolina, South Carolina, Ohio and Pennsylvania). VAD has over 30 years of experience, financial strength, operational excellence, and a passion and reputation for outstanding customer service.
“This agreement represents an incredible milestone in the history of Master. A milestone in our expansion in the United States and a milestone as the first Canadian-owned HVAC-R distributor expanding through acquisition South of the border”, says Louis St-Laurent, CEO, The Master Group. “This agreement is fully aligned with Master’s vision to become the most innovative, and fastest growing HVAC-R solutions provider in North America. After analyzing numerous companies across the US market, we clearly recognized the value of VAD and its culturally aligned team. While continuing to invest and to grow in all Canadian markets, VAD will be the platform for future US growth. It is important to note that VAD will continue to operate as a stand-alone US-based corporation and will continue to operate as usual in terms of products, processes, and systems.”
“We are thrilled about this next step in Master’s expansion and to penetrate the US market is very exciting”, continues Neil McDougall, President, The Master Group. “I look forward to working closely with Ken and Chris Baker, and the entire VAD Leadership team. Similar to Master, VAD has a strong entrepreneurial spirit and together, we will partner to build an even stronger company – both organically and by increasing the size of their operating footprint through future acquisitions.”
“Over the past 35 years, VAD and The Master Group have enjoyed a long-standing relationship, working together on the York Distributor Advisory Council and making numerous best practice visits to each other’s offices,” notes Ken Baker,
Chairman, VAD. “Most importantly, the values of our two companies are aligned, which creates a solid partnership for the future.” Chris Baker, President and CEO, VAD, adds: “The timing of this partnership is perfect as it enables us to capitalize on our momentum as we continue to grow, both organically and by attracting well-managed, customer-focused companies to join us. Together with Master, we are well-positioned to achieve our goal of being North America’s leading HVAC distributor.”
About The Master Group
A leader in the heating, ventilation, air conditioning, and refrigeration sector, and celebrating 70 years in business in March 2022, The Master Group has been named one of Canada’s Best Managed Companies since 2010 and is the largest private HVAC/R distributor in Canada. The company now employs 1,100 dynamic and devoted individuals who serve the industry at more than 49 branches and 4 distribution centres from British Colombia to the Atlantic Provinces. To learn more, go to www.master.ca or follow us on https://www.linkedin.com/company/themastergroup.