Temp-Con LLC, which is backed by Centerfield Capital Partners and Caymus Equity Partners, has acquired Lenexa, Kansas-based Cobb Refrigeration, a commercial refrigeration, heating and air conditioning service, sales and installation company. No financial terms were disclosed. Generational Equity advised Cobb Refrigeration on the deal.
DALLAS–(BUSINESS WIRE)–Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Cobb Refrigeration, LLC to Temp-Con, LLC. The acquisition closed December 13, 2019 and details were not disclosed.
Located in Lenexa, Kansas, Cobb Refrigeration is a commercial refrigeration, heating and air conditioning (HVAC-R) service, sales and installation company specializing in laboratory refrigeration and lab equipment services. The company services incubators, centrifuges, cryostat, microtomes, freeze driers and more.
Temp-Con, located in Olathe, Kansas is a full-service commercial, heating, ventilation, air conditioning and refrigeration contractor that is owned by Centerfield Capital Partners and Caymus Equity Partners. Temp-Con has been in business for 30 years and is recognized as a regional leader in the industry. The Company maintains differentiation through expertise in complex, energy-efficient HVAC-R systems and high-touch service. End-market users of Temp-Con’s services operate in a diverse set of industries, including government, healthcare, restaurants and commercial buildings.
Founded in 1998, and located in Indianapolis, Indiana, Centerfield Capital Partners provides mezzanine and equity financing to lower middle market companies. They manage approximately $500 million of assets in four funds, and are primarily supported by institutional investors. They seek to form close partnerships with equity sponsors, independent sponsors, business owners and management teams to build growing companies. They invest subordinated debt and equity capital, and seek meaningful equity positions in the companies in which they invest.
Caymus Equity Partners, with offices in Atlanta and New York, is a private equity firm that invests in profitable lower middle market companies with significant growth potential. They focus on industry sectors where they have a track record of investment and operating success. Through their collective experience, they offer a breadth of proprietary knowledge and relationships that enable them to contribute to the success of their investments, beyond just capital investments. Centerfield and Caymus acquired Temp-Con in early 2018.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss and his team, led by Senior Vice President Mergers & Acquisitions Luan Ly successfully closed the deal. Senior Managing Director Joe Van Voorhis established the initial relationship with Cobb Refrigeration.
Mr. Ly stated, “We could not have expected a better outcome for the two groups as it was a perfect match given that, where one party is weak, the other party is strong and vice versa. We can only imagine that the collaboration between the two will create more exciting opportunities for their employees and customers.”
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Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition, and wealth management services. Their five-step approach features exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
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