has been acquired by
a subsidiary of
PMCF Investment Banking is pleased to announce that it served as the exclusive investment banker to Young Supply Company in its sale to Heritage Distribution Holdings, the U.S. subsidiary for global heating, ventilation, A/C and refrigeration (HVACR) wholesaler Beijer Ref.
Established in 1935, Young Supply Company is a family-owned firm headquartered in Chesterfield Township, Michigan, offering solutions in commercial refrigeration, heating, ventilation and air conditioning (HVAC) as well as food service equipment and parts wholesale.
With an experienced and professional team, the company primarily focuses on the aftermarket for residential and commercial projects within five main sectors: refrigeration, commercial HVAC, residential HVAC, food service equipment, and hydroponics. It has 18 branch locations throughout Michigan and northern Ohio.
Heritage Distribution Holdings is a subsidiary of Beijer Ref which is a worldwide leader in cooling technology and HVAC. Heritage Distribution has 77 locations in 14 states and is based out of Atlanta, Georgia. Young Supply will continue to operate under its own brand, in both distribution and marketing.
“Young Supply Company is excited to announce we have joined the Heritage Distribution Holdings and Beijer Ref family. We look forward to all of the strengths and benefits this opportunity brings, allowing us to serve our customers and employees even better,” Tony Vallan, President of Young Supply Company, said. “With over 85 years as an industry leader, our Young Supply team also looks forward to contributing to the world-renowned Heritage Distribution Holdings and Beijer Ref family of companies.”
The existing management will roll-over investment into Heritage Distribution and continue to run the business. The acquisition is expected to have a positive impact on the group’s result and position. Young Supply employs approximately 200 people.
“We are excited to welcome Young Supply to the Heritage Distribution family,” Alex Averitt, CEO of Heritage Distribution Holdings, said. “This strategic acquisition marks an inflection point in Heritage Distribution’s journey, solidifying our commitment to growth and innovation in the HVACR industry. This latest addition underscores our unwavering commitment to deliver enhanced services and solutions to a wider demographic, ultimately empowering more individuals to lead healthier and more comfortable lives.”
PMCF served as the exclusive investment banker to Young Supply.
“Young Supply Company is one of the nation’s top refrigeration and HVAC distributors in a highly competitive market. We are honored the company chose PMCF to manage this process and ultimately close on a transaction that achieves their objectives,” Joe Wagner, Managing Director at PMCF, said.
Matt Rupprecht, Director at PMCF, added, “the combination with Heritage provides exceptional opportunity for the entire Young Supply team and we look forward to seeing what they will accomplish in the future.”
The transaction closed in April 2024. Richard L. Levin & Associates, Miller Johnson, and Ufer, Spaniola & Frost, P.C. served as legal advisor to Young Supply.
About Young Supply Company
Established in 1935 in Detroit, Michigan, Young Supply has grown to be Michigan and Northern Ohio’s premier refrigeration, heating, cooling, food service equipment, hydronic, and parts wholesaler. As a privately-owned company, the company’s main focus continues to be customer satisfaction. With 18 branch locations, Young Supply offers products across five main sales sectors: refrigeration, commercial HVAC, residential HVAC, Food Service Equipment, and Hydroponics. https://www.youngsupply.com/
About Heritage Distribution Holdings
Heritage Distribution Holdings is the fastest-growing HVACR distributor in the US. With a focus on being the market leader in each local geography, HDH is expanding its footprint by partnering with businesses that share a tenacious commitment to customers, employees, and suppliers. From after-hours emergency service, to stocking our customer’s warehouses, the HDH family is fully invested in being the critical link in the supply chain that enables people to live healthier and more comfortable lives. https://www.heritagedistribution.com
About BEIJER REF AB
BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 45 countries in Europe, North America, Africa and Asia and Oceania. https://www.beijerref.com
About PMCF
PMCF is a client-centric middle market investment bank providing merger and acquisition advisory services to private, public, and private equity owned companies worldwide. We combine our expansive industry and transactional expertise with highly engaged, senior-level bankers to create tailored solutions for all our clients. PMCF helps clients meet their sale, acquisition, financing, and strategic growth objectives through a broad range of services, including sale advisory, acquisition advisory, capital raising, transaction planning, and strategic advisory. We have dedicated professionals focused on plastics & packaging, business & technology services, industrials, healthcare, and consumer & retail industries.
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