Founded in 1958, GLP provides a comprehensive suite of HVAC systems, components, and warranty administration services. By integrating Atlantic Street Capital’s operational resources with its own engineering-focused model, the distributor intends to scale its footprint through both organic development and strategic add-on acquisitions.
Atlantic Street Capital Acquires Stake in HVAC Distributor GLP
Private equity firm Atlantic Street Capital has partnered with Toronto-based GLP to fuel the next phase of expansion for the specialized HVAC distributor. The deal aims to leverage GLP's sixty-five-year history in technical engineering and equipment supply to accelerate growth across North American telecom, utility, and industrial sectors.
Philip Desrochers, CEO of GLP, noted that the infusion of resources allows the company to capitalize on its existing technical expertise while targeting new markets. Paul Sun, a partner at Atlantic Street Capital, cited GLP’s strong reputation in mission-critical settings as a primary driver for the investment. KeyBanc acted as the exclusive financial advisor for the transaction, which focuses on firms with EBITDA between $4 million and $25 million.
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