Industry Today: Controlling Cold

Published on 2018-07-31
chiller system, industrial chilelr
Packaged Ammonia Chiller

M&M Refrigeration’s aggressive growth strategy has been further enhanced by the company’s recent acquisition by Source Capital.

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Maryland-headquartered M&M Refrigeration has been a privately- owned company for close to 50 years, during which time it established itself as a leader in industrial refrigeration systems and controls. But things are starting to heat up for this cooling giant. In May it was acquired by private equity investment firm Source Capital LLC to help further M&M Refrigeration’s ambitious expansion plans.

“We’ve continually grown over the years,” remarks Chuck Toogood, vice president of business development. “With the improvement of the overall economy and the general optimism among our industrial customers to commit to capital expenditures, there’s a lot of opportunity for us; we are planning for 10 to 20 percent annual growth over the next four to five years. The acquisition by Source Capital helps us realize this goal.”

Company founder Dufferin McConnel says, “Source Capital is the right partner for this transition. I am pleased to see the company in good hands for the next phase of growth.”…

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