#USA #Los Angeles #Platinum Equity #HVAC industry #Impact Climate Technologies

Platinum Equity Secures Financing for Impact Climate Technologies

In a recent announcement that promises substantial implications for the HVAC industry, Platinum Equity confirmed its role in facilitating a new financing deal for Impact Climate Technologies (ICT). This strategic move aims to refinance existing debts while positioning the company for future expansion and growth prospects.

Impact Climate Technologies has carved a niche within the HVAC sector, specializing in design-assist engineering and manufacturers' representation across various sectors including data centers, healthcare, life sciences, education, and government. Their extensive product line includes custom air handling units, packaged equipment, precision cooling systems, and a diverse array of specialty applied equipment.

A Solid Partnership for Continued Success

Platinum Equity's relationship with ICT took a significant step forward in 2023 when it provided a loan to Tom Barrow Company, a prominent player in the ICT portfolio, following Ardian's acquisition of a controlling stake in the firm. This partnership has fostered organic growth and geographical expansion for Tom Barrow Company, which has enhanced its relationships with both vendors and customers, reinforcing ICT’s standing in the market.

Jacob Kotzubei and Louis Samson, Co-Presidents of Platinum Equity, expressed optimism about the collaboration with ICT, noting, “ICT and Ardian have been excellent partners, and the ICT platform continues to grow. We are enthusiastic to partner with Ardian again and continue supporting their next chapter.”

The latest financing secured by Platinum Equity is poised to act as a springboard for ICT’s ongoing development. The firm's credit team meticulously evaluated the company's operations, recognizing the strong leadership and its robust standing in the industry. Michael Fabiano, Managing Director and Global Head of Credit at Platinum Equity, articulated that the goal is to provide financing solutions that not only meet the immediate needs of borrowers but also facilitate long-term value creation as companies evolve.

The Credit Team’s Focus and Strategy

Platinum Equity’s credit team typically targets companies with earnings before interest, taxes, depreciation, and amortization (EBITDA) ranging from $15 million to $75 million, primarily within North America. This strategic focus underscores the firm’s aim to establish lasting partnerships that can adapt to the changing landscapes of their client's business strategies.

As the HVAC industry continues to innovate and adapt to growing demands for efficiency and environmental responsibility, financing solutions like those provided by Platinum Equity will be crucial for companies like ICT to maintain competitiveness and pursue new opportunities.

Overall, this refinancing initiative not only alleviates ICT’s existing financial burdens but also sets a solid groundwork for their ambitious growth aspirations. As Platinum Equity continues to leverage its expertise in value creation, the trajectory for ICT looks brighter than ever.

The implications of this refinancing extend beyond financial stability; they signal a commitment to innovation and improvement in the HVAC sector. With strong backing and a strategic approach to expansion, Impact Climate Technologies is well-positioned to lead in the evolving landscape of environmental technology solutions.