A fund managed by the private equity group of Ares Management Corporation (NYSE:ARES) acquired CoolSys, a Brea, California-based refrigeration and HVAC services company, from Audax Private Equity.
The terms of the transaction were not disclosed.
The company intends to use the funds to continue to expand its business reach.
Founded in 2001 and led by CEO and President Adam Coffey, CoolSys provides a full spectrum of refrigeration and HVAC services and solutions to customers in the retail, food service, commercial and industrial market segments. The company’s operating businesses cover every stage of mission-critical systems through engineering and design, installation, service and maintenance, and energy optimization.
CoolSys employs more than has more than 1,400 highly trained, field-based service and installation experts who serve more than 4,000 customers across North America.