ADH Acquires North Carolina HVAC Distributor
(Courtesy of Advantage Distribution Holdings)
MIAMI — Advantage Distribution Holdings (ADH), an HVAC distribution platform backed by Tigertail Capital Partners, has acquired CTC Supply.
Founded in 2000, CTC is a distributor of HVAC equipment, parts, and supplies used primarily in residential single-family and multi-family housing.
Headquartered in Fayetteville, North Carolina, CTC operates four locations in the state's coastal region and delivers a product portfolio supported by a customer-first service model, a press release from ADH said. CTC is a member of Blue Hawk, a member-owned HVAC cooperative.
ADH plans to help accelerate CTC Supply’s growth throughout the coastal Carolina region, the press release said.
“Over the last 25 years, we’ve taken enormous pride in establishing CTC as the region’s most trusted HVAC distributor,” said founder Keith Sutton. “We view the hundreds of local contractors who rely on us daily as an extension of our family. Partnering with ADH will further our ability to serve our customers while also providing CTC with strategic resources to continue executing on our growth aspirations.”
“Having grown up in the business, I could not envision a better partner for CTC than ADH,” said Cole Sutton, CTC’s vice president and director of operations. “I’m excited to help lead CTC, alongside our amazing team as we double down on the exceptional service our loyal customers and vendor partners have come to expect.”
As part of the transaction, Clay Holder will join ADH as its CEO. Holder brings a wealth of HVAC distribution experience to ADH, having most recently served as the president of VAD HVAC Distributors, an HVAC distributor spanning the U.S. Mid-Atlantic and Midwest regions. Holder has held various leadership positions at Johnson Controls, including vice president and general manager of its direct distribution and aftermarket parts divisions, where he was responsible for the leadership and growth of 50 branch locations.
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“I am both humbled and excited by the opportunity to lead Advantage Distribution Holdings,” said Holder. “The TCP team and I have a shared belief in the tremendous opportunity the HVAC distribution industry presents, and I look forward to partnering with best-in-class operators, such as CTC Supply, as we build an industry-defining platform together.”
ADH also announced the appointments of Michael Tully and Jeremy Goldstein of D1 Capital Partners, and Todd Buehl of H7 Capital Management, to its board of directors.
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