Liberty Ridge Advisors Announces CoolSys Acquiring Universal Refrigeration
FOR IMMEDIATE RELEASE
BREA, CA—June 18, 2024—
Liberty Ridge Advisors is pleased to announce that its client, Universal Refrigeration, Inc., has been acquired by CoolSys. CoolSys™, the market-leading provider of sustainable refrigeration, HVAC, energy, and engineering solutions, has announced its acquisition of Universal Refrigeration, Inc., an HVAC service provider with expertise in the installation and servicing of heating, air conditioning, and refrigeration systems for commercial, industrial, and residential customers throughout Western Washington. This acquisition allows CoolSys to deepen its market presence and service network in the Pacific Northwest region. Liberty Ridge Advisors acted as the exclusive advisor to Universal Refrigeration.
“This acquisition represents an important step in our plans for growth and success as CoolSys builds upon its strong nationwide market leadership,” said Rich Wyckoff, Chief Executive Officer and President of CoolSys. “We look forward to welcoming the Universal Refrigeration team into the CoolSys family of companies and to joining forces with them to serve the HVAC needs of our customers in the Pacific Northwest region.”
Founded in 1985 and headquartered in Auburn, Wash., Universal Refrigeration provides a range of services, including new project design, build services, installation, repairs, and ongoing maintenance. With its experienced team, Universal also assists customers in selecting and installing energy-efficient replacement heating and cooling systems, including heat pumps and ductless HVAC solutions.
“As we join CoolSys, we look forward to continuing our legacy of top-quality HVAC solutions and customer service while bringing new capabilities offered by CoolSys to our customers,” said Chris Gates, who co-owns Universal Refrigeration with Bryan Galvin. “We are proud to have served the Western Washington region for more than three and a half decades, and our team maintains its commitment to serving our loyal customers for years to come,” added Bryan.
Michael Bennett, Managing Partner at Liberty Ridge Advisors, added, “This acquisition is a testament to the strength and reputation of Universal Refrigeration in the HVAC industry. We are thrilled to have facilitated this transaction and are confident that the partnership with CoolSys will bring significant benefits to both companies and their customers in the Pacific Northwest.”
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About CoolSys
CoolSys is the market-leading provider of sustainable refrigeration, HVAC, energy, and engineering solutions for customers in the grocery, retail, food service, industrial, education, healthcare, and government sectors. From engineering, design, and installation to service, maintenance, energy optimization, and end-of-life asset recommercing, CoolSys businesses cover the entire lifecycle of mission-critical HVAC and refrigeration systems. Headquartered in Southern California, CoolSys has more than 3,200 employees nationwide, serving the daily needs of more than 45,000 customer locations across North America. For additional information, please visit www.coolsys.com.
About Universal Refrigeration
Headquartered in Auburn, Wash., Universal Refrigeration provides a broad range of HVAC expertise in both the installation and servicing of refrigeration, heating, and air conditioning systems. Since 1985, it has been serving customers throughout the Puget Sound, including Kent, Wash., Renton, Tacoma, Auburn, Federal Way, and Bremerton, Wash. Licensed in the state of Washington, the company’s HVAC and administrative team provides services on all heating and air conditioning systems in addition to assisting customers in selecting replacement systems and solutions.
About Liberty Ridge Advisors
Liberty Ridge Advisors provides Pacific Northwest privately held businesses’ merger and acquisition advisory services, including capital transactions, mergers, acquisitions, and recapitalizations. Liberty Ridge Advisors offers concentrated experience and expertise in key industries such as aerospace, building materials, specialty contractors, medical products, general manufacturing, and distribution, applied technology, wine, business and financial services, agricultural and food products. For more information about Liberty Ridge Advisors, please visit our website at libertyra.com.
About Liberty Ridge Advisors
Liberty Ridge Advisors provides Pacific Northwest privately held businesses' merger and acquisition advisory services, including capital transactions, mergers, acquisitions, and recapitalizations. Liberty Ridge Advisors offers concentrated experience and expertise in key industries such as aerospace, building materials, specialty contractors, medical products, general manufacturing, and distribution, applied technology, wine, business and financial services, agricultural and food products.
For more information about this transaction, please contact the Liberty Ridge Advisors deal team:
Michael Bennett Leif Johnson
Managing Partner Managing Partner
mbennett@libertyra.com ljohnson@libertyra.com
Investment Banking Services and Securities offered through Independent Investment Bankers Corp. a broker-dealer, Member FINRA/SIPC. Liberty Ridge Advisors, LLC is not affiliated with Independent Investment Bankers Corp