Service Refrigeration Company, a portfolio company of Freestone Partners, has been acquired by Source Refrigeration & HVAC, Inc., a portfolio company of Arsenal Capital Partners. Quarton Partners acted as the exclusive financial advisor to Service Refrigeration Company in this transaction.
Service Refrigeration Company is a provider of commercial and industrial refrigeration and air conditioning solutions. SRC specializes in providing engineering and design, installation, maintenance and repair services on a wide range of refrigeration equipment, including walk-in coolers/freezers, display cases, ice machines, freezers and coolers.
Source Refrigeration & HVAC, Inc. is based in Anaheim, California. Source Refrigeration is a provider of new system design and installation, remodels and repair and maintenance for commercial refrigeration and HVAC systems. Source Refrigeration serves supermarket chains, convenience store chains and leading telecom and industrial companies throughout North America. Arsenal Capital Partners is a private equity firm based in New York, New York that invests in middle-market specialty industrial and healthcare companies. Arsenal currently has $1.7 billion of committed equity capital.