Milton Street Capital Majority Recapitalizes PurgeRite, LLC

Vertiv Acquires PurgeRite to Expand Liquid Cooling and Fluid Management Services

December 4, 2025

Industrial Services

Vertiv Holdings Co. completed the acquisition of PurgeRite (Purge Rite Intermediate LLC) for approximately $1.0 billion, enhancing Vertiv's fluid management and liquid-cooling service capabilities for data centers, HPC and AI environments. PurgeRite—headquartered in Texas—brings specialized mechanical flushing, purging and filtration expertise and proprietary technologies to strengthen Vertiv's end-to-end thermal management offerings.

Clearlake Capital Acquires Mold-Rite Plastics from Irving Place Capital

September 14, 2021

Packaging

Clearlake Capital Group has signed a definitive agreement to acquire Mold-Rite Plastics from Irving Place Capital. Mold-Rite, headquartered in Plattsburgh, New York, manufactures plastic closures, jars and child‑resistant dispensing solutions for healthcare, wellness, specialty food and personal care markets; financial terms were not disclosed. Clearlake called this a new platform investment to expand in healthcare and wellness packaging and to pursue organic growth and strategic add‑on acquisitions in the fragmented sector.

Flow Control Holdings (Edgewater) Acquires Ace Sanitary, Inc.

February 5, 2021

Manufacturing

Edgewater Growth Capital’s portfolio company Flow Control Holdings, LLC has acquired Ace Sanitary, Inc., a Cincinnati-based manufacturer of sanitary and high-purity flexible hose products marketed under the Flex-Rite and Seal-Rite brands. The add-on expands Flow Control Holdings' engineered flow-control product offering and strengthens its presence in the food & beverage, dairy/cosmetic and pharmaceutical end markets.

Ridgemont Equity Partners Provides Growth Capital to Crete Mechanical Group

June 2, 2022

HVAC & Mechanical

Ridgemont Equity Partners provided significant growth capital to Crete Mechanical Group (CMG) to support the build-out of a national platform of HVAC, electrical, plumbing and building automation service companies. Financing for the transaction was led by Ares Management Corporation and Churchill Asset Management; terms were not disclosed.

Citation Capital Acquires Majority Stake in Gallo Mechanical

June 23, 2025

HVAC & Mechanical

Citation Capital, a Dallas-based private equity firm, acquired a majority stake in Gallo Mechanical, a fourth-generation New Orleans-based mechanical contractor specializing in large-scale HVAC and plumbing installation and services. The Gallo family and management will retain a significant interest, and the partnership is intended to support geographic and capability-driven growth across healthcare, hospitality, education and industrial end markets.

CMS Nextech (Audax PE) Acquires Aire Rite

January 25, 2023

HVAC & Mechanical

CMS Nextech, a portfolio company of Audax Private Equity, has acquired Aire Rite, a Southern California commercial HVAC and refrigeration services provider. The add-on expands CMS Nextech's footprint in Southern California and brings the combined business to over 1,100 self-performing technicians nationwide, enhancing service capacity for C-store, food service, retail and healthcare customers.