Leading HVAC Distributor Expands into New Geography
New Lenox, IL (April 14, 2021) – Munch’s Supply (the “Company”), a leading Midwest-based heating, ventilation and air conditioning (“HVAC”) distributor has acquired API of NH and Delta T including its eight branches servicing New Hampshire, Massachusetts, Rhode Island, Maine and Vermont. This will expand the Company’s geographic footprint to 42 locations serving 16 states.
“We are excited to expand our company’s presence in the Northeast,” said Munch’s CEO 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.”
“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 accelerate our growth together,” said API’s President Bob Engel Jr. “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.”
“For more than three decades, the Engel family has done a tremendous job building a solid and successful operation. They have a talented team in place, and we look forward to working with them to grow the business,” added Munch. “We will continue to build and invest in their strong vendor relationships.”
The acquisition demonstrates Munch’s ongoing dedication to the HVAC marketplace and reinforces its commitment to partnering with family and customer service focused businesses looking for either a long-term partnership or an exit strategy.
Munch’s Supply has been operating in the Chicagoland area for 65 years and is consistently ranked as a top 10 HVAC distributor in the United States. Ridgemont Equity Partners, a middle-market private equity firm, acquired a majority stake in Munch’s Supply in 2019 and continues to support the Company in its organic and M&A growth initiatives.
TM Capital served as financial advisor to Ridgemont Equity Partners. Citizens Capital Markets served as financial advisor to API of NH and Delta T.