Exclusive Buy-Side Advisor
Kelvin Group
About the Company
Kelvin Group (“Kelvin” or the “Company”) is a leader in the field of industrial and commercial mission-critical mechanical services, process safety management, and environmental compliance. Operating under the ARC Mechanical, Refrigeration Design and Service (“RD&S”), HCG Associates, and AES brands, the Company’s turnkey solutions provide design, installation, and ongoing service, plus preventative maintenance, of world-class mechanical systems for leaders in the food and beverage, cold storage, pharmaceutical, educational, health care, and process industries. Kelvin has been a portfolio company of Southfield Capital (“Southfield”) since 2017.
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Exclusive Buy-Side Advisor
Situation
As Kelvin bolsters its current services, adds new ones, and expands geographically, acquisitions have become a core part of the Company’s growth strategy. Over time, Kelvin has honed its acquisitive approach to meet the needs of selling business owners and provide them with value creation and growth opportunities.
Engagement
Kelvin and Southfield engaged G2 Capital Advisors, LLC (“G2”) as the exclusive buy-side advisor to identify and originate acquisition targets that meet the Company’s criteria and expansion goals. G2 works as a trusted advisor and long-term strategic partner in growing our clients’ businesses. We bring industry-specific experience and a breadth of relationships to every engagement.
Outcome
Kelvin acquired Norristown, PA-based Dahms Refrigeration Services LLC (“DRS”) in May 2024. Founded in 2001, DRS is a contracting firm specializing in the sales, service, and maintenance of industrial and commercial refrigeration facilities. While working across many sectors, DRS focuses on cold storage warehouses, milk & cheese processing, meat packing, food preparation, dairy product production, poultry services, and frozen food production.
The acquisition will be integrated into Kelvin’s RD&S business unit, located in Fairless Hills, PA. The resulting market concentration delivers more resources and customer contracts to both businesses and expands the teams’ ability to cross-sell capabilities. This represents Kelvin’s eleventh acquisition since partnering with Southfield.
“We’re excited to welcome the team at Dahm’s Refrigeration Services to RD&S,” said Bil Sauer, President at RD&S. “Their expertise in providing refrigeration solutions perfectly aligns with our mission to deliver unparalleled service excellence to our customers. We look forward to expanding our reach and enhancing our capabilities to better serve the diverse needs of industries relying on mission-critical refrigeration systems.”
Southfield Principal Chris Grambling commented on the transaction, “DRS is a well-aligned regional ally that will help to extend and differentiate RD&S’s value proposition. We are grateful to our partners, G2, for identifying top-quality acquisition opportunities to support the expansion of the Kelvin platform.”
“Kelvin and DRS share a commitment to the highest service standards. Working together, they will set a new, elevated standard for the marketplace,” said Kerri Ford, Managing Director and Head of Technology & Business Services at G2 Capital Advisors. “We are delighted to have supported this collaboration and are excited to continue to help the Kelvin team achieve its growth goals.”
Deal Team
Sub-Sector
- Mission-Critical Mechanical Services
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