Royston Group (IOP Portfolio) Acquires Southern CaseArts

LSI Industries Acquires Royston Group for $325 Million

February 25, 2026

Industrial Services

LSI Industries completed the acquisition of Royston Group, a vertically integrated provider of retail identity and equipment solutions, for an aggregate purchase price of $325 million. The deal was funded with a combination of debt and proceeds from a public offering of LSI common stock.

The Master Group Acquires Refrigeration Sales Corporation from Rotunda Capital Partners

March 2, 2023

Building Products

The Master Group, a leading North American HVAC/R distributor, acquired Refrigeration Sales Corporation (RSC), a Valley View, Ohio-based HVAC/R parts and equipment wholesaler, from Rotunda Capital Partners. The acquisition expands The Master Group's U.S. footprint across Ohio and western Pennsylvania and follows Rotunda's 2021 investment to grow RSC into a multi-location, data-driven distribution platform.

GlacierPoint Enterprises Acquires Southern Ice Cream and Gourmet Foods

June 30, 2022

Food & Beverage

GlacierPoint Enterprises, a Mill Point Capital portfolio company, has acquired Southern Ice Cream and Gourmet Foods, a Charlotte-based full-service distributor of ice cream and related products across the Carolinas. The deal creates a newly formed GlacierPoint Carolinas division led by Bailey Jordan, expands GlacierPoint's DSD distribution footprint from South Carolina north to the U.S./Canadian border, and retains Southern's owners Kim and Chance DelCastillo in senior advisory roles.

Rotunda Capital Partners Acquires Refrigeration Sales Corporation

June 23, 2021

Industrial Services

Rotunda Capital Partners has acquired a majority stake in Refrigeration Sales Corporation (RSC), a fourth-generation wholesale distributor of HVAC/R equipment, parts and supplies headquartered in Valley View, Ohio. The investment positions RSC to pursue product, service, and geographic expansion across Northeast Ohio and Western Pennsylvania while preserving the company's family culture and management team.

Royston Group (IOP Portfolio) Acquires Assets of ProImage Wholesale Signs

September 8, 2020

Manufacturing

Royston Group, a portfolio company of Industrial Opportunity Partners (IOP), has acquired the assets of ProImage Wholesale Signs, adding an 80,000 sq. ft. facility in Jacksboro, Tennessee. The site will serve as Royston Group/SignResource's East Coast manufacturing hub, expanding capacity and improving service and freight economics for convenience, grocery and other retail customers; terms were not disclosed.

Royston Group (SRR Holdings) Acquires Hamilton Laboratory Solutions

February 12, 2020

Manufacturing

SRR Holdings, Inc. dba Royston Group, an existing portfolio company of Industrial Opportunity Partners (IOP), has acquired Hamilton Laboratory Solutions. Hamilton — a 140-year-old designer and manufacturer of laboratory workstations, casework and fume hoods headquartered in Manitowoc, Wisconsin — will operate as a division of Royston Group; terms were not disclosed.