The Grasp Group Proclaims Strategic Partnership with Ohio-Based mostly RSC to Develop Footprint within the US HVAC-R Business.
Master Group’s strategic partnership with RSC brings together two industry leaders who share a commitment to excellence, quality management and customer focus.
BOUCHERVILLE, QC and VALLEY VIEW, Ohio, March 2, 2023 /PRNewswire/ — The Master Group, Canada’s largest and one of North America’s leading independent distributors of the HVAC-R industry, today announced the acquisition of Refrigeration Sales Corporation (RSC). Known based in Ohio .
Founded in 1945, RSC is an independent distributor specializing in heating, ventilation, air conditioning and refrigeration products and has earned a notable reputation as a trusted HVAC-R supplier, serving Ohio and Western Pennsylvania through its Whole Servers -Mission service, speed, expertise and relationships.
The acquisition gives The Master Group extensive coverage in Ohio and Pennsylvania and represents a significant expansion of the Canadian group’s footprint, which marks its second acquisition in the United States.
“Our vision is to become the premier HVAC-R distributor in North America and when we considered strategic partners in the United States, RSC was a natural choice because of its reputation for excellence, quality management and alignment with our core values” , says The CEO of Master Group, Louis St-Laurent.
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Neil McDougall, President of The Master Group, comments, “For nearly 80 years, RSC has built its reputation on relentless service to customers. I am very excited to be working alongside their amazing team and helping them exceed their growth goals.”
Master Group is committed to expanding its presence in the North American HVAC-R market after securing significant growth capital through its long-term partnership with Novacap. This significant investment strengthens their recent strategic partnership with Ohio-based Refrigeration Sales Corporation (RSC) and cements The Master Group’s position as a leader in the HVAC-R industry.
RSC will continue to operate independently in Ohio and Pennsylvania with the current management team led by Rhonda Wight, President and CEO. “There are many exciting opportunities in this strategic partnership with The Master Group. We share a passion for the industry and provide exceptional service. The RSC management team is confident that together we can achieve great things for our valued customers and partners,” added Rhonda Wight.
The partnership between The Master Group and RSC will enable both companies to improve their products, services and value propositions for their customers. The partnership reflects the companies’ shared commitment to quality, customer satisfaction and innovation, and the acquisition is expected to create a significant growth opportunity for both organizations.
About the master group
Master Group is Canada’s largest and one of North America’s leading distributors to the heating, ventilation, air conditioning and refrigeration industry. The company celebrated its 70th anniversary in March 2022 and has been recognized as one of Canada’s Best Governed Companies since 2010. Today the company employs over 1,300 dynamic and dedicated team members. Collectively, the Master team serves the industry from 75 offices and 5 distribution centers across Canada and the United States. Visit www.master.ca for more information
About Refrigeration Sales Corporation
Refrigeration Sales Corporation (RSC) is a wholesale distributor of heating, ventilation, air conditioning and refrigeration equipment. The company is headquartered in Valley View, OH and operates from 10 locations in northeast Ohio and western Pennsylvania. RSC serves as a vital link between more than 200 suppliers and 2,800 customers. www.refrigerationsales.net.
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over $8 billion in assets under management, having invested in more than 100 platform companies and completing more than 150 add-on acquisitions. By applying its sector-centric approach since 2007 across Industries, TMT, Financial Services and Digital Infrastructure, Novacap’s deep domain expertise is able to accelerate business growth and create long-term value. With experienced, dedicated investment and operations teams and significant capital, Novacap has the resources and knowledge to help build world-class companies. Novacap has offices in Montreal, Toronto and New York.
View original content: https://www.prnewswire.com/news-releases/the-master-group-announces-strategic-partnership-with-ohio-based-rsc-to-expand-footprint-in-the-us-hvac -r-industry-301760333.html
SOURCE Novacap Management Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2023/02/c7291.html
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