Anaheim-based Source Refrigeration & HVAC Inc. took another step in an expansion strategy that targets the Southeastern U.S., acquiring TP Electrical in White, Ga.
The deal came on undisclosed terms.
This is “just one of several acquisitions Source has planned to further penetrate growth and market share” in the region, according to Michael Ochoa, Source Refrigeration’s senior vice president.
The company services refrigeration systems for grocers, including large chains such as Ralphs and Kroger.
It has more than $200 million in annual revenue and about 1,000 employees, with about 150 in Anaheim.
TP Electrical provides contracting services to grocers and other companies. It has 18 employees and has been rebranded as Source Refrigeration.
The latest deal brings “electrical capabilities that Source did not have in the Southeast,” Ochoa said. “In the past, we would have to [turn] to electrical contractors … [Now we can] bid entire jobs.”
Source Refrigeration first entered the Southeast in 2011 when it opened a Lakeland, Fla., location.
The presence of many national and regional supermarket chains, along with “hot, humid summers” in the region, makes it a prime growth market, according to Ochoa.
