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Wednesday, May 25, 2022

Coolsys Expands in Southeast

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Coolsys, the Brea-based parent of refrigeration and HVAC services companies nationwide, said it acquired Building Air Services. Terms of the deal weren’t disclosed.

Building Air Services, which is based in Pinellas Park, Fla., provides services for commercial air conditioning, heating and refrigeration.

CoolSys said the buy expands its work in Florida, North Carolina, South Carolina, Georgia, Alabama, Mississippi, Louisiana, Texas and Arizona.

“We look forward to serving new customers throughout the Southeast region and expanding our light-commercial division as a result of this strategic acquisition,” Coolsys Chief Executive Adam Coffey said in a statement.

Coolsys was purchased earlier this year by Ares Management Corp of Los Angeles. Coffey told the Business Journal his aim is to build the company by 2023 to about $1.1 billion in annual sales and a $2 billion enterprise value.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.

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