Value Added Distributors Acquires L.T.L. Supply

Rotunda Capital Partners Invests in Value Added Distributors, LLC

January 14, 2025

Logistics & Distribution

Rotunda Capital Partners has invested in Value Added Distributors, LLC (VAD), a Shawano, Wisconsin-based distributor of hydraulic hoses, tubes, seals, couplings and related value-added services. Rotunda will partner with the existing owners and management to accelerate growth through branch expansion and add-on acquisitions; financing was provided by TPG Twin Brook Capital Partners with U.S. Bank and Mayer Brown advising.

The Master Group Acquires Value Added Distributors (VAD)

December 13, 2021

HVAC & Mechanical

The Master Group Inc., Canada’s largest private HVAC/R distributor, has acquired Value Added Distributors (VAD), a Midlothian, Virginia–based HVAC solutions and distribution platform with 19 branches and nearly 200 employees. The acquisition establishes The Master Group’s entry into the United States and positions VAD as the platform for future U.S. growth.

AAR CORP. Acquires American Distributors (ADI)

September 25, 2025

Aerospace & Defense

AAR CORP. acquired American Distributors Holding Co., LLC (ADI) for $146 million in an all-cash transaction funded via AAR's existing revolving credit facility. ADI, a distributor of high-performance electronic components and provider of supply chain and manufacturing services headquartered in Randolph, New Jersey with ~400 employees and six locations across the US, UK, and India, will join AAR's Parts Supply segment to expand new parts distribution, OEM relationships, and drive margin improvement.

Series 1 Acquisitions, LLC Acquires L&D Electric

January 1, 2022

Electrical Services

L&D Electric, an Aurora, Colorado-based electrical contractor founded in 2007, has been acquired by Series 1 Acquisitions, LLC. SDR Ventures served as exclusive sell-side advisor; the company specializes in commercial and residential wiring and works with custom home builders, multi-family apartment complexes, and large commercial developers in the greater Denver market.

LDR Partners Acquires Active Radiator and Forms Active Thermal Solutions Platform

July 9, 2025

Manufacturing

LDR Partners LP acquired Active Radiator, a Philadelphia-based manufacturer, servicer and distributor of heavy-duty radiators and heat exchangers, in a transaction that closed July 3, 2025. LDR combined Active with Cincinnati Radiator and Ohio Heat Transfer under a unified platform, Active Thermal Solutions, to build the largest U.S. heavy manufacturing platform for aluminum industrial heat exchangers and expand aftermarket and OEM capabilities.

Advantage Distribution Holdings Acquires CTC Supply

March 31, 2025

HVAC & Mechanical

Advantage Distribution Holdings (ADH), the HVAC distribution platform backed by Tigertail Capital Partners, has acquired CTC Supply, a Fayetteville, North Carolina-based distributor of HVAC equipment, parts and supplies operating four locations across coastal North Carolina. The transaction brings the Sutton family into a partnership with ADH and names Clay Holder as ADH CEO as the platform pursues further M&A and regional expansion.