Kelvin Group and Southfield Capital Announce Acquisition of RC&E, Inc., a Leading Provider in Mission-critical Refrigeration
WILMINGTON, Mass., Feb 7, 2024 /PRNewswire-PRWeb/ — Southfield Capital, a distinguished private equity firm focused on the lower middle market, in collaboration with Kelvin Group, is delighted to announce the successful completion of the strategic acquisition of RC&E, Inc. This achievement underscores a noteworthy milestone for both entities and is set to fortify their combined influence within the refrigeration and HVAC sector.
The integration of RC&E into Kelvin Group’s family of companies, which features reputable brands such as ARC Mechanical, HCG Associates, Refrigeration Design & Service (RD&S), and AES Non-Destructive Testing, further solidifies the company’s standing as a national provider of mission-critical mechanical services. This transaction represents the tenth acquisition for Kelvin Group, demonstrating its commitment to strategic growth and national expansion.
“We are extremely excited to be part of the Kelvin Group family of companies,” said Russell Munday, former owner of RC&E. “RC&E found an ideal partner in Kelvin Group and we share the values that focus on being a great place to work, innovation, employee development and taking care of customers. Kelvin Group’s national scale and resources will enable RC&E to continue its growth in Texas and beyond.”
Founded in 1997 by three sector visionaries, RC&E emerged from a modest provider of refrigeration engineering and construction services to the food and beverage processing and storage industry to a powerhouse of expertise and customer satisfaction under the leadership of its founding partners.
Throughout its growth, RC&E’s founders remained actively engaged in day-to-day operations, fostering a culture of teamwork and dedication that propelled the company to success as it expanded to a full-service provider with offerings including maintenance services, engineering, facilities modeling, project management, industrial insulation, parts, and process safety and risk management.
“We are thrilled to welcome RC&E into the Kelvin Group family,” said Harry Gray, CEO at Kelvin Group. “This partnership with a high-valued brand such as RC&E marks a strategic move for us into Texas and the greater Midwest, further expanding our national footprint and reinforcing our commitment to excellence in industrial refrigeration. Together, we’ll bring innovative solutions to a broader clientele, solidifying our position as a great employer and leader in the industry.”
About Kelvin Group
Kelvin Group is a leader in the field of industrial and commercial mission-critical mechanical services, process safety management and environmental compliance. Its turnkey solutions provide design/installation and ongoing service and preventative maintenance of world-class mechanical systems for leaders in the food and beverage, cold storage, pharmaceutical, educational, health care, and process industries.
About RC&E, Inc.
Established by Jeffrey Smith, Larry Vaught, and Bill Ritzer in 1997, RC&E, Inc. has emerged as a prominent player in industrial refrigeration, evolving from its roots as Refrigeration, Construction, & Engineering, Inc. RC&E provides comprehensive services, including maintenance services, engineering, facilities modeling, project management, industrial insulation, parts, and process safety and risk management.