Strategic Equipment and Supply Acquires ISI Commercial Refrigeration

L & I Refrigeration, Inc. Sold to Private Family Fund

July 3, 2025

HVAC & Mechanical

L & I Refrigeration, Inc., a family-owned commercial refrigeration services provider based in Middlefield, Connecticut, was sold to a Private Family Fund. The transaction closed on July 3, 2025, with Generational Group advising on the sale to facilitate owner transition and continuity of service for the company’s convenience store, restaurant and retail customers.

Mako Industries Acquires The Spears Group Inc. dba Spears Refrigeration

August 4, 2024

HVAC & Mechanical

Mako Industries has acquired The Spears Group Inc. (dba Spears Refrigeration), expanding its commercial HVAC and refrigeration service footprint into Arlington and the North Texas market. The deal strengthens Mako's commercial services division and provides greater visibility into healthcare and entertainment end markets.

C&S Chemicals (Shoreline Equity Partners) Acquires ISI Water Chemistries

February 20, 2024

Environmental Services

C&S Chemicals, a portfolio company of Shoreline Equity Partners, acquired ISI Water Chemistries, a Bluffdale, Utah-based provider of cooling tower and boiler water treatment services. The transaction is C&S's ninth add-on and expands the platform's geographic footprint into the Mountain West, adding capabilities and customers across food & beverage, pharmaceutical, and aerospace end markets.

CCMP Growth Advisors Invests in Innovative Refrigeration Systems

January 11, 2024

Industrial Services

CCMP Growth Advisors has partnered with founder and CEO Mike McGinnis to make a growth investment in Innovative Refrigeration Systems, a Lyndhurst, Virginia-based designer, manufacturer and service provider of industrial refrigeration systems. Financial terms were not disclosed; Mike McGinnis will remain CEO and Tom Goeke will join the board to support the company’s service and software expansion.

EIS Acquires Power Grid Supply

November 2, 2023

Industrial Services

EIS, a North American specialty distributor of electrical process materials, has acquired Power Grid Supply, a supplier of transformer parts and components. The acquisition expands EIS's product portfolio and aftermarket capabilities for transformer OEMs, remanufacturers, field service contractors, and utilities, and will support geographic expansion across North America.

Daikin North America Acquires Stevens Equipment Supply

November 2, 2020

Industrial Services

Daikin North America LLC, a subsidiary of Daikin Industries, Ltd., has acquired Stevens Equipment Supply, a wholesale distributor of HVAC and commercial food service equipment based in Eagan, Minnesota. The acquisition expands Daikin's distribution footprint across roughly a dozen states, with Stevens continuing to operate under its existing name and management to support growth of its contractor customer base.