Atlantic Street Capital Partners with HVAC Distributor GLP
Private equity firm Atlantic Street Capital has partnered with GLP, a specialized distributor of HVAC equipment serving high-growth markets.
New York, NY – Atlantic Street Capital (ASC), a private equity firm, has announced a partnership with GLP, a specialty distributor of heating, ventilation, and air conditioning (HVAC) equipment. The partnership aims to accelerate GLP's growth across both new and existing markets, particularly within the utilities, telecommunications, and industrial sectors.
Founded in 1958 and headquartered in Toronto, GLP supplies a comprehensive range of HVAC equipment, parts, and components. The company is recognized for its technical engineering expertise and end-to-end service, from system design to warranty administration. This collaboration is expected to bolster GLP's position in complex end markets throughout North America.
Philip Desrochers, CEO of GLP, expressed optimism about the partnership. "Atlantic Street's operational resources and experience in growing value-added distribution businesses, combined with a commitment to invest in our operations, better position us to leverage our decades-long history and expertise in the HVAC sector to accelerate our growth across core markets," Desrochers stated.
Paul Sun, Partner at Atlantic Street Capital, highlighted GLP's strengths. "GLP has a well-earned reputation serving complex end markets in North America and is a truly specialized HVAC distribution platform," Sun said. He added that ASC's experience in the value-added distribution sector will enable them to be a thoughtful partner.
GLP intends to pursue organic growth and potentially undertake add-on acquisitions and integrations to expand its reach and product portfolio into new markets, supported by Atlantic Street Capital.