BETHESDA, Md. & EVANSTON, Ill.--(BUSINESS WIRE)--Rotunda Capital Partners (“Rotunda”), an operationally-focused private equity firm, has acquired a majority stake in Refrigeration Sales Corporation (“RSC” or “the Company”), a leading wholesale distributor of heating, ventilation, air conditioning and refrigeration (“HVAC/R”) equipment, parts and supplies in Ohio and Western Pennsylvania.
For 100 years, RSC has acted as a critical partner to both suppliers and customers, with a dedication to relentless customer service and best-in-class operations. The Company has grown to 10 locations, out of which it provides residential and commercial contractors with technical support, expert training and the products required to complete any installation, repair or service.
“We are thrilled to partner with Refrigeration Sales Corporation,” said Dan Lipson, partner at Rotunda. “The Company is led by an outstanding management team and its reputation is second to none in the industry. We look forward to helping them continue their product, service, and geographic expansion while upholding the same level of commitment to their customers and vendors.”
“RSC has all the attributes we look for in a distributor,” added Corey Whisner, partner at Rotunda. “It is an exceptionally-run family business, with a long history of providing customers with premier branded products, technical support and superior service. The Company is well-positioned for accelerated growth, and we look forward to supporting the team in the execution of our shared strategic vision.”
“We have come a long way since my great-grandfather started this business in 1921 as Kelvinator Cleveland,” said Warren Farr, CEO at RSC. “We are excited to have found a partner in Rotunda that knows our industry and will continue to build on our tremendous growth. Together, we plan to enter new markets and geographies while staying true to our family culture.”
RSC President Rhonda Wight added, “We are very excited about our new partnership with Rotunda and believe their experience and deep industry knowledge will help us continue to expand and better serve our customers and supplier partners.”
Rotunda has been focused almost exclusively on working with family and founder-owned Distribution and Services businesses for more than a decade. RSC marks Rotunda’s seventh platform investment within Distribution and third platform investment within the HVAC industry.
About Refrigeration Sales Corporation
Refrigeration Sales Corporation is a fourth-generation family-owned wholesale distributor of heating, ventilation, air conditioning, and refrigeration equipment. The Company is headquartered in Valley View, OH and operates out of 10 locations in Northeast Ohio and Western Pennsylvania. RSC serves as a critical link between more than 200 suppliers and 2,800 customers. In 2021, RSC was ranked the 23rd largest HVAC/R company in the United States. For more information, visit www.refrigerationsales.net.
About Rotunda Capital Partners
Rotunda Capital Partners is a private equity firm that invests equity capital in established, lower middle market companies. Rotunda partners with management to build data-driven growth platforms within its targeted sectors, including value-added distribution, asset light logistics and industrial/business services. Founded in 2009, the firm has a long history of helping management teams achieve their goals for growth. The Rotunda team actively provides guidance and draws on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. The firm has offices in Bethesda, MD and Evanston, IL. For more information, visit www.rotundacapital.com.