IG Completes Sale of Refrigeration & HVAC Company

January 2020 - The Independence Group (IG) has assisted in the sale of a Refrigeration and HVAC Services Company. The Buyer is an investment group with a network of operating companies in this business sector.

The Company specializes in Ammonia Refrigeration installation and maintenance, in addition to heating, ventilation and air conditioning (HVAC) services. Located in Southern California, the Company's diverse customers include hotels, hospitals, manufacturing facilities, grocery distribution warehouses and industrial corporations. The Company's employees are members of the refrigeration workers union.

The Buyer is a leading provider of HVACR installation services throughout North America and service/maintenance across the Western U.S. This acquisition will enable it to expand its reach and boost the industry leading brand it continues to build. Initial growth strategies include implementing a sales division as well as a website to develop an Internet presence.

The Seller will exit after transitioning to the new ownership. Two key managers have a combined 40+ years with the Company and are expected to remain.

Sam Bath, IG's Consultant in Southern California, led the team throughout the transaction. It is his second HVAC company sold in two years (and IG's fourth deal completion in the HVAC sector.) "This client was discovered through the previous outreach to potential HVAC buyers, so it has been a win-win process for all," says Bath. "We truly appreciate the responsiveness and operating knowledge of this buyer. Our client is now part of an outstanding group that will take them to new levels of success and market leadership."

The IG team also included Larry Willis, President, Ale Cavazos, VP of Finance and Administration, Janet Scherr, Marketing Manager and members of the office support staff.

With offices in California, Utah, the East Coast and in the Upper Midwest, IG represents clients from across the U.S. The firm works in tandem with its buy-side services division, Acquisition Partners (AP), to provide a full range of M&A services. For more information about AP visit www.acq.partners.