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Southfield Capital acquires American Refrigeration Company

Southfield Capital has acquired Andover, Massachusetts-based American Refrigeration Company, an industrial refrigeration services company. No financial terms were disclosed. MFA Capital Advisors provided consulting and advisory services to ARC on the transaction.


TEWKSBURY, Mass., Nov. 30, 2017 /PRNewswire/ — MFA Capital Advisors and MFA Securities are pleased to announce that American Refrigeration Company (“ARC”) was recently acquired by Southfield Capital, a private equity firm based in Greenwich, CT. MFA Capital Advisors provided consulting and advisory services to ARC and the transaction was facilitated by MFA Securities. Terms of the transaction were not disclosed.

Founded in 1996, American Refrigeration Company is New England’s largest independent industrial refrigeration services company, providing services for refrigeration and air conditioning system design, as well as construction and equipment maintenance and repair for industrial and commercial refrigeration and HVAC needs.

Steve Giannelli, CEO of American Refrigeration Company, expressed his pleasure with the transaction. “Our goal from the beginning was to identify partners that we felt could help drive the company to the next level and upon our first meeting with MFA, it was clear they understood our vision for the future. They took to heart our emotional attachment and preserved a story that we’re remarkably proud of – all while driving the company forward by identifying a true partner for us in Southfield. We see a tremendous future for ARC, and we’re forever grateful to MFA for the counsel they provided us throughout the entirety of the process.”

Laura Moruzzi, Managing Director of the MFA team added, “Both sides brought a commitment to the transaction and respect for each other and for the business. That shared collaboration made our role in the process easy, and we joined in the collective desire for an honest and open conversation about the company’s future. We’re excited to see what that future holds for ARC, and we’re confident the company will continue to set the pace for transformation in the refrigeration market.”

MFA Capital Advisors, LLC is an M&A advisory services firm that encompasses a full range of corporate finance matters including, but not limited to, mergers and acquisitions, reorganizations, recapitalizations, stock repurchases, bank financing, strategic alternatives and general corporate advisory on related matters.

MFA Securities, LLC, a FINRA member broker-dealer, provides merger and acquisition (M&A) business advisory services and transaction services to unaffiliated private companies.