The RISE Group Acquires DG Service Company

RISE Group Acquires Air Masters HVAC of NE

April 3, 2023

HVAC & Mechanical

RISE Group, an employee‑owned provider of energy, engineering, laboratory, and field services, has acquired Air Masters HVAC of NE, a 23‑person commercial HVAC and building automation firm based in Fall River, Massachusetts. The Medeiros family will remain with the business, which will operate under RISE Group's Built Environment activities to expand the company's mechanical/HVAC contracting capability in southeastern Massachusetts and Rhode Island.

Kelvin Group / Southfield Capital-backed RD&S Acquires GMS Services

June 4, 2024

HVAC & Mechanical

Kelvin Group, in partnership with Southfield Capital, has completed the acquisition of GMS Services, LLC. The business will be integrated into Kelvin's RD&S unit to expand the platform's commercial refrigeration and HVAC/R service capabilities and geographic footprint across the Mid-Atlantic, Southeast and Great Lakes regions; terms were not disclosed.

The Kelvin Group (backed by Southfield Capital) Acquires Refrigeration Design & Service (RD&S)

February 2, 2022

Industrial Services

The Kelvin Group, a newly launched platform backed by Southfield Capital, has completed the acquisition of Refrigeration Design & Service (RD&S), an industrial refrigeration design/build and service provider based in Fairless Hills, Pennsylvania. The add-on expands Kelvin's footprint and service capabilities across the Northeast into the Mid-Atlantic and Southeast; Deerpath Capital provided debt financing.

Refrigeration Design & Service (RD&S) / Kelvin Group Acquires Dahms Refrigeration Services

May 9, 2024

HVAC & Mechanical

Refrigeration Design & Service (RD&S), part of Kelvin Group and backed by Southfield Capital, has acquired Dahms Refrigeration Services, a Norristown, Pennsylvania-based commercial and industrial refrigeration contractor. The deal will integrate Dahms into RD&S's platform to expand Kelvin's service capabilities and presence in the Mid-Atlantic market, particularly across cold storage and food-processing end markets.

TPG Rise Climate Acquires Majority Stake in A-Gas from KKR

August 17, 2023

Environmental Services

TPG Rise Climate, the climate investing strategy of TPG, has agreed to acquire a majority stake in A-Gas, the global refrigerant gas recovery and reclamation specialist. KKR will remain a significant minority shareholder and minority investor LDC will fully exit; the transaction is expected to close by the end of 2023 subject to customary approvals.

Shell Energy North America Acquires RISEC Holdings (609 MW Rhode Island CCGT)

January 24, 2025

Energy

Shell Energy North America (SENA), a subsidiary of Shell plc, has completed the 100% equity acquisition of RISEC Holdings, LLC, owner of a 609 MW two-unit combined-cycle gas turbine power plant outside Providence, Rhode Island. The deal consolidates Shell’s position in the ISO New England wholesale market and secures long-term supply and capacity offtake previously contracted through the plant, which entered service in 2002; prior owners included funds managed by Carlyle (51%) and EGCO RISEC II, LLC (49%).