Saw Mill Capital has acquired Glendale Heights, Illinois-based Climate Pros LLC, a provider of refrigeration and HVAC repair, maintenance, and construction services to grocery retailers and other cold-chain customers. No financial terms were disclosed.
BRIARCLIFF MANOR, N.Y., Jan. 4, 2018 /PRNewswire/ — Saw Mill Capital Partners II, LP and affiliated private equity investment funds managed by Saw Mill Capital LLC (“Saw Mill”), in partnership with the management of Climate Pros, LLC (“Climate Pros”), announced the acquisition of Climate Pros, a provider of refrigeration maintenance, repair, remodel and installation services to grocery retailers and other cold-chain customers primarily in North America. The terms of the transaction have not been disclosed. This is the third investment in Saw Mill’s most recent private equity fund.
Todd Ernest, CEO of Climate Pros, commented, “We have had the pleasure of developing a deep relationship with Saw Mill over the past four years and are excited to partner with the firm as we enter the next stage in our growth. We see tremendous opportunity in our market and believe Saw Mill will provide us with strategic support and capital to execute on our growth plans.”
Tim Nelson, a Partner at Saw Mill Capital, said, “Todd Ernest is a dynamic entrepreneur, who has grown up in the industry and has never been satisfied by the status quo. He saw an opportunity to build a better platform and has executed on his vision to become one of the leading refrigeration services companies in the U.S. We look forward to our new partnership and to continue growing the business as we enter new geographies and seek to acquire add-on service providers.”
ABOUT CLIMATE PROS
Headquartered in Glendale Heights (Chicago), IL, Climate Pros is a provider of refrigeration and HVAC repair, maintenance, and construction services to grocery retailers and other cold-chain customers primarily in North America. Quickly after its founding in 2006, the Company’s differentiated value proposition transformed the Chicagoland market, and Climate Pros has since expanded to new geographies including Hawaii, Wisconsin, Michigan, Florida, and California.
ABOUT SAW MILL CAPITAL
Based in Briarcliff Manor, New York, Saw Mill Capital is a private equity firm that acquires industrial and commercial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential.