Audax Private Equity (“Audax”) announced that earlier this year it recapitalized Reedy Industries, Inc. (“Reedy” or the “Company”) and partnered with the Reedy family and management. Reedy Industries, headquartered in Glenview, IL, is a leading provider of commercial HVAC services, mechanical services, and energy solutions primarily serving commercial, industrial, and municipal buildings in the Midwest.
Bill Reedy, CEO of Reedy Industries, said, “We are excited to be partnering with Audax for the next stage of our growth. We have always put our people and customers first, and Audax is committed to investing in our strong culture and our ability to serve the customer. Audax also brings expertise and resources that will help us continue to build our position in the market through strategic acquisitions and growth initiatives.”
Reedy’s acquisitions and customer growth strategies have achieved record sales growth across their core geographies in 2019.
*Don Bramley, *Managing Director, Audax Group, said, “Reedy Industries is a leader in the commercial, mechanical, and HVAC services market within the Midwest. We believe the Company is poised for growth as it continues to expand its presence throughout the United States. We look forward to supporting Bill, and the entire Reedy team, as they continue growing the business organically and through acquisitions.”
Terms of the transaction were not disclosed. Metronome Partners acted as exclusive financial advisor to Reedy Industries.served as legal counsel to.
*ABOUT REEDY INDUSTRIES
Reedy Industries provides HVAC and other mechanical services to the commercial end-market and has achieved consistent, long-term growth through customer-centered relationships and exceptional service. Reedy Industries is a market leader within the Chicagoland area and has additional entities servicing the surrounding areas of Indiana, Kansas, Missouri, Ohio, and Wisconsin. Reedy Industries serves over 6,000 customers focusing on preventative maintenance, break / fix repairs, and retrofit projects. To learn more, please visit www.reedyindustries.com.