Arsenal Capital sells Source Refrigeration & HVAC

Audax Private Equity said Wednesday that it acquired Source Refrigeration & HVAC Inc from Arsenal Capital Partners. Financial terms weren’t announced. Anaheim, California-based Source provides commercial refrigeration and HVAC services in North America. William Blair & Co and DLA Piper advised Source and Arsenal Capital Partners. Kirkland & Ellis served as counsel to Audax Private Equity.

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