HVAC distribution

Munch’s Supply, a portfolio company of Ridgemont Equity Partners, has acquired API of New Hampshire and Delta T Distributors (together API).

API is a distributor of heating, ventilation, air conditioning (HVAC), hydronic, and geothermal equipment used in both residential and commercial applications. API distributes numerous top-line brands including Rheem, Lochinvar, LG, Viessmann, Aprilaire, and CertainTeed.

The company operates eight distribution facilities in New Hampshire, Massachusetts, Rhode Island, Maine and Vermont; and it also operates two sheet metal manufacturing shops in New Hampshire and Maine. API was founded in 1969 and is headquartered in Manchester, New Hampshire.

“We are fortunate to have found a like-minded partner in Munch’s Supply. Our culture, values and philosophy of customer-centered service are closely aligned, and we are committed to accelerating our growth together,” said Bob Engel Jr., the president of API. “My brothers and I will continue to lead the business along with our talented management team. We look forward to working with Munch’s Supply to grow the business both organically and by potentially acquiring other regional distributors who fit with our culture of service.”

Ridgemont acquired Munch’s Supply, a distributor of HVAC equipment, parts and supplies, from Rotunda Capital in April 2019.

Munch’s distributes heating and cooling supplies to dealers and contractors and has more than 10,000 SKUs from more than 100 HVAC equipment, parts and supplies manufacturers, including Trane, American Standard, Rheem and Mitsubishi.

Munch’s was founded in 1956 by Willard Munch and led today by CEO Bob Munch (the founder’s grandson). The company is headquartered southwest of Chicago in New Lenox, Illinois.

“We are excited to expand our company’s presence in the Northeast,” said Bob Munch. “As I got to know Bob Engel and his brothers, it was amazing how many similarities the businesses share. The union of our great companies sets the stage for a bright and exciting future in HVAC distribution. We are pleased to welcome both the customers and employees of API of NH and Delta T into Munch’s family of brands.”

The buy of API expands Munch’s geographic footprint to 42 locations across 16 states. The API acquisition follows the buy in February 2021 of the HVAC and plumbing distribution business of C&L Supply, including its seven branches servicing Oklahoma, Kansas, Missouri and Arkansas.

Charlotte, North Carolina-based Ridgemont focuses on middle-market buyout and growth equity investments of $50 million to $250 million in companies with $5 million to $50 million. The firm invests in the following sectors: business and industrial services, energy, healthcare, and technology and telecommunications. In December 2018, the firm held an oversubscribed final closing of Ridgemont Equity Partners III LP with $1.65 billion in commitments.

© 2021 Private Equity Professional | April 29, 2021

Munch’s Supply, a portfolio company of Rotunda Capital Partners since April 2015, has acquired Tommark Company from Jon and Scott Larson.

Tommark is a distributor of heating, ventilation and air conditioning (HVAC) equipment and controls that are used in residential and commercial applications. The company carries equipment from Maytag, Kelvinator, Dunkirk, Modine, Tecumseh, Honeywell, Emerson and others. Tommark was founded in 1921 and has seven locations in the state of Michigan with a headquarters near Detroit in Jackson, MI (www.tommark.com).

Munch’s Supply distributes heating and cooling supplies to dealers and contractors and has more than 10,000 SKUs from more than 100 manufacturers. The buy of Tommark will expand Munch’s geographic footprint to 24 locations, including 12 Munch’s Supply branches in Chicago, Northwest Indiana and Michigan along with six O’Connor Company branches in Oklahoma, Kansas, Nebraska, Iowa and Missouri. Munch and Tommark will combine to operate nine branches in Michigan.

Munch’s Supply, founded in 1956, has 450 employees and is headquartered southwest of Chicago in New Lenox, IL (www.munchsupply.com).

“Tommark has a great team in place and we look forward to expanding into new product and customer segments,” said Munch’s CEO Robert Munch. “We are excited to further develop our company’s presence in the state of Michigan through Tommark’s convenient locations. The Larson brothers have done a fantastic job building a solid and successful operation with superior dedication to their family of contractors. We look forward to working with Jon, Scott and the talented Tommark team.”

Rotunda Capital invests in businesses with enterprise values of $15 million to $100 million. Sectors of interest include logistics, value-added distribution, specialty finance, and business services. Since founding in 2009, Rotunda has completed ten platform investments and realized four exits. The firm is headquartered in Bethesda, MD with an office in Evanston, IL (www.rotundacapital.com).

© 2018 Private Equity Professional | August 30, 2018

Munch’s Supply, a heating, ventilation and air conditioning (HVAC) supplies distributor and a portfolio company of Rotunda Capital Partners since April 2015, has acquired Kansas-based O’Connor Company.

O’Connor Company is a distributor of HVAC equipment, parts, controls, and accessories from HVAC OEM’s including American Standard, Bosch, ClimateMaster, Honeywell, Mitsubishi Electric, Trane and other major HVAC manufacturers. The company was founded by Joe O’Connor in 1920 and has locations in Kansas City (headquarters), Wichita, Tulsa, Des Moines, and Omaha (www.oconnor-hvac.com).

The buy of O’Connor Company expands Munch’s Supply’s service area into Oklahoma, Kansas, Nebraska, Iowa and Missouri. “The O’Connor purchase is part of Munch’s long-term strategy to aggressively grow into other regions through strategic acquisitions,” said Munch’s CEO Robert Munch. Munch and O’Connor will now have 18 branches in eight states. Munch’s expanded to Michigan with three branches in 2015, another in northwest Indiana in 2016 and Elgin, Illinois in 2017.

Munch’s Supply, operating 12 branch locations in in Chicago, northwest Indiana and Michigan, distributes heating and cooling supplies to area dealers and contractors and has more than 10,000 SKUs from more than 100 manufacturers. Munch’s Supply was founded in 1956 by founder Willard Munch and is headquartered southwest of Chicago in New Lenox, IL (www.munchsupply.com).

O’Connor will continue to operate under the same name as an independent company and will retain its current management team with Executive Director of Operations, Greg Borr stepping into the role of President.

Rotunda Capital invests in businesses with enterprise values of $15 million to $100 million. Sectors of interest include logistics, value-added distribution, specialty finance, and business services. Since founding in 2009, Rotunda has completed ten platform investments and realized four exits. The firm is headquartered in Bethesda, MD with an office in Evanston, IL (www.rotundacapital.com).

© 2017 Private Equity Professional | December 5, 2017