Paceline Equity Partners LLC, a Dallas-based private equity manager, has provided a $50 million investment to Kelso Industries LLC, a portfolio company of Oxbow Equity Partners and Peterson Partners.
Kelso is a provider of installation and maintenance services for heating, ventilation, air conditioning, and refrigeration (HVAC/R) and other mechanical building systems including plumbing and process piping systems. The company is based in Phoenix, Ariz. and serves a range of industrials, commercial and institutional clients across numerous geographies. Paceline’s investment will be used by Kelso to fund the acquisitions of several complementary businesses.
“Paceline has significant experience investing in building products and construction sectors, and we look forward to bringing our financial and operational resources to bear to help Kelso scale and accelerate its growth,” states Sam Loughlin, CEO of Paceline.