Value Added HVAC Distributors and its three subsidiaries have entered a partnership with The Master Group, a portfolio company of Novacap.
The subsidiaries include Virginia Air Distributors, Allied HVAC Distributors and South Carolina Air Distributors with Boxwood Partners acting as exclusive sell-side advisor the the distributors. Value Added employs nearly 200 people across 19 branch locations and supplies HVAC contractors with residential and commercial heating and air-conditioning equipment.
The Master Group is a HVAC/R distributor in Canada focused on heating, ventilation, air conditioning, and refrigeration. The firm operates over 50 branches across Canada with 4 distribution centers and over 1,000 product lines in inventory.
“We are excited to join The Master Group, which we believe was the perfect fit for us and our vision for growth,” said Chris Baker, president and CEO of Value Added HVAC Distributors.