Category: Industry News

Leading Refrigeration and HVAC Services Company to 

Continue Operations Under Current Executive Team 

 

BREA, Calif., March 21, 2019 – CoolSys™, a parent of market-leading refrigeration and HVAC companies nationwide, announced today that is has been acquired by a fund managed by the Private Equity Group of Ares Management Corporation.  CoolSys will continue to operate under its current executive team, which will collectively maintain a significant equity investment in the company.  Financial terms of the private transaction were not disclosed.

 

“This is a major milestone for CoolSys,” comments Adam Coffey, CEO of CoolSys.  “We are grateful to our former private equity partner, Audax Group, for supporting the execution of our growth strategies during the past three years.  Now, with Ares’ additional support and resources, we can pursue a more aggressive acquisition and expansion strategy while we continue to deliver best-in-class solutions for our customers’ mission–critical refrigeration and HVAC systems throughout North America.” 

 

Over the past three years, CoolSys has undergone transformative growth with eight acquisitions to expand its presence and reinforce its service capabilities in key geographic markets across the U.S., earning the company recognition as one of the top 10 fastest-growing private companies in Orange County, Calif. by the Orange County Business Journal.  The company plans to continue its growth organically as well as through strategic acquisitions following its partnership with Ares.  To accommodate its growing operations and staff, CoolSys expanded into a 27,000 square-foot headquarters in Brea, Calif. in December 2017.  The company currently employs a team of more than 2,000 employees nationwide and is in active discussions with several potential acquisition targets. 

 

“CoolSys is the recognized leader in the fragmented refrigeration & HVAC services market. We are impressed by its rapid growth, blue-chip customer portfolio, expanding set of customer solutions, highly capable leadership team, and strong employee-centric culture,” comments Matt Cwiertnia, partner, and co-head of North America Private Equity of Ares Management.  “We look forward to partnering with CEO Adam Coffey and the entire CoolSys management team to accelerate growth both organically and through add-on acquisitions.”

About CoolSys 

CoolSys is the market-leading refrigeration and HVAC services company, specializing in a full spectrum of best-in-class service experiences and solutions for customers in the retail, food service, commercial and industrial market segments. CoolSys and its operating businesses cover every stage of mission-critical systems through engineering and design, installation, service and maintenance, and energy optimization. Headquartered in Southern California, CoolSys has more than 1,400 highly trained, field-based service and installation experts serving the daily needs of more than 4,000 customers across North America. For additional information, please visit www.coolsys.com.

About Ares Management Corporation

Ares Management Corporation is a publicly traded, leading global alternative asset manager with approximately $130.7 billion of assets under management as of December 31, 2018 and 18 offices in the United States, Europe, Asia and Australia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, visit www.aresmgmt.com.

The U.S. Department of Energy (DOE) has extended the deadline to enter the 2019 Advanced RTU Campaign awards competition. These prestigious awards, will be presented during the PRSM2019 National Conference, April 30 in Denver.  Last year several PRSM retailers and suppliers were award recipients. The awards recognizes leaders in the industry and is a market differentiator that demonstrates an organization’s commitment to save energy.

 

There are several different competitive categories including: excellence in total RTU installations and retrofits, excellence in implementing efficiency with RTU’s, distinction in prioritizing RTU efficiency via efficiency programs, excellence in prioritizing RTU efficiency by a contractor/service provider and, demonstrated commitment to high-efficiency RTU best practices.

 

The 2019 award application can be found here and closes on February 22, 2019.

During this season of giving, MaintenX International announced their 2019 sponsorship of a Habitat for Humanity home. The $85,000 sponsorship allows the Woodards, a local Pinellas County family, to become home owners in Largo, Fla.

“Homeownership is not just about the physical house,” said Bill Schaphorst, MaintenX’s VP of Business Development. “It’s the opportunity for families to feel safe, to have a space of their own. Homes are where memories are made. We are excited to help make it possible for the Woodards to have a house of their own.”

Latrivette Woodard is a hardworking single mother of three. She also helps care for her two young grandchildren. Having made multiple moves due to undesirable conditions and rising rents, the Woodards are excited to have a place to gather as a family – a place they can call their home.

“I am building because I now have the strength and the power to accomplish a goal that I never dreamed of accomplishing: owning my own home,” Latrivette said.

Each day, MaintenX provides superior maintenance services from coast to coast. This experience is sure to help make assisting with home construction a breeze.

As part of the Habitat for Humanity Homeownership program, Latrivette will be asked to complete 450 on-site ‘sweat-equity’ hours, 16 homeownership classes and save $1,000 for a down payment. After she completes these requirements, Latrivette will be able to purchase her home with a zero-interest mortgage.

Groundbreaking will begin in January. MaintenX volunteers will begin completing their 200 volunteer hours in March and the Woodard’s home should be ready by May.

For more than 35 years, MaintenX has been involved with and caring for the local community. To learn more about MaintenX and the services they provide, visit http://www.maintenx.com.

ABOUT MAINTENX INTERNATIONAL: 
MaintenX International is a fully licensed, facilities repair company. As one of the largest national self-performing facility maintenance and repair companies in the U.S., MaintenX has created a wide network of knowledgeable and professional technicians throughout the country. With their team of well-trained technicians, MaintenX self-performs and manages facility maintenance for their clients. In the event there is not a MaintenX technician in an area, the company has established a network of preferred vendor partners throughout the country for continued superior service for their clients. For more than 35 years, MaintenX has been expertly serving multi-location retail stores, restaurant chains and Fortune 500 companies nationwide.

KinderCare Learning Centers, the nation’s largest private provider of early childhood education and care, is looking to 2019 and expanding its focus on energy efficiency and sustainability. KinderCare recently earned ENTOUCH’s annual Environmental Sustainability Award for their continued efforts to improve energy efficiency and an ongoing commitment to environmental sustainability across their centers.

“At KinderCare, our focus is setting children up for success and we do that by not only focusing on today, but in thinking about and preparing for tomorrow as well,” said Wei-Li Chong, KinderCare brand president. “Improving our centers’ energy efficiency helps us do our part to preserve the planet for tomorrow’s children.”

As part of its ongoing strategy to reduce its environmental footprint, KinderCare began implementing energy efficient smart building solutions and sustainability strategies in its centers in 2018 and plans to expand that program in 2019 as the company celebrates its 50^th birthday.

KinderCare recently earned an award from ENTOUCH, a technology company, as an acknowledgement of their work to make a significant and positive impact on the environment by improving their operational and sustainability practices.   

KinderCare centers with ENTOUCH’s smart building solutions use an average of 15.7 percent less energy each year. The 260 KinderCare centers participating thus far expect to see annual energy reductions of over 3.2 million kilowatt-hours and 2,381 metric tons of CO₂ – equivalent to eliminating more than 5.8 million passenger car miles. Once the program expands to all 1,500 child care centers, KinderCare anticipates annual energy reductions of more than 18.6 million kilowatt hours and 13,861 metric tons of CO₂.  

“We chose KinderCare as the recipient of our annual Environmental Sustainability Award based on its passion and continued commitment to environmentally-friendly sustainability practices and energy saving procedures,” said Greg Fasullo, CEO of ENTOUCH. “Since KinderCare utilizes ENTOUCH’s smart building solutions, it now has the visibility across their distributed facilities and has the ability to proactively analyze critical energy data to drive decision-making and determine future outcomes.”

About KinderCare^® Learning Centers 

KinderCare Learning Centers builds confidence for life for children socially, emotionally and academically over the lifecycle of children in our centers. For nearly 50 years, KinderCare Learning Centers have been a place where every child can learn, explore, and discover in a safe and nurturing environment in more than 1,500 community-based centers. We lead the nation in accredited centers and are passionate about providing children a sense of discovery while preparing them for success in school and beyond. To learn more visit us online at www.KinderCare.com, on Facebook or on Twitter. For resources, information, and activity ideas for parents and teachers of young children please visit www.KinderCare.com/blog. In 2018 Rainbow Child Care Centers joined the KinderCare family. To learn more about Rainbow at www.rainbowccc.com. 

About ENTOUCH™

ENTOUCH™ is a technology company that leverages facility asset and energy intelligence solutions to accurately assess and control energy consumption and expenditure. The company’s award winning ENTOUCH 360™ platform provides a dedicated team of facility management and energy experts who utilize leading-edge software, best-in-class hardware and predictive or “targeted” analytics to improve operational efficiencies, significantly reduce energy consumption and maximize energy savings.  Connect with ENTOUCH™ on Facebook, Twitter, LinkedIn and blog. For more information on ENTOUCH™ visit www.entouchcontrols.com  for more details.