ANAHEIM, Calif. — Source Refrigeration & HVAC, a portfolio company of Arsenal Capital Partners, has announced the acquisition of TP Electrical, based in White, Ga.

TP is a leading Southeast provider of electrical and energy management system (EMS) contracting services to grocery, commercial, industrial, and retail clients across the southeastern United States. Source said the acquisition builds on its platform as a leading independent provider of commercial refrigeration and HVAC services in North America, serving the nation’s top supermarket chains, many of the largest convenience store chains, and leading telecom and industrial companies.

“We are excited to add TP’s capabilities and strong customer relationships to our growing Southeast team, and we welcome TP’s employees and customers to the Source family,” said Bruce Buchholz, chief executive officer of Source Refrigeration & HVAC. “Expansion in the southeastern United States continues to be an important strategic focus for us,” added Buchholz. “The TP acquisition allows us to offer our existing Southeast customers expanded service and construction-related electrical and EMS capabilities. It also allows us to provide a broader offering for installation jobs with existing and new customers throughout the entire Southeast. TP’s expertise coupled with Source’s existing service and installation operations in Florida and Georgia, position us extremely well for continued growth in the broader southeastern market.”

Sal Gagliardo, an operating partner at Arsenal Capital, said, “TP is well established in the southeastern U.S. market for refrigeration and HVAC electrical and EMS services and has provided a long history of quality solutions and service to grocery, commercial, industrial, and retail clients. The acquisition of TP strengthens the capabilities of our existing service and installation operations in the Southeast and supports our overall strategy of continuing to expand our national footprint while we build an industry-leading independent refrigeration and HVAC company.”

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Publication date: 3/18/2013