CoolSys secures $39.5M: A game-changer for cooling industry

Wingspire Capital has provided a $39.5 million senior secured credit commitment to CoolSys, a leader in mission-critical HVAC, refrigeration, and energy and carbon reduction solutions for thousands of businesses across the United States.

The commitment is part of a broader $150 million credit facility for CoolSys with a syndicate led by Mizuho that provides ongoing working capital support, extends tenor for three years, and refinances a member of the prior bank group.

CoolSys, founded in 2017, has rapidly established itself as a leader in delivering vital refrigeration and HVAC services to a diverse array of industries, including grocery stores, restaurants, data centers, healthcare institutions, and more. The company’s comprehensive offerings span mechanical, electrical, plumbing, and refrigeration engineering (MEPR), analytics and monitoring services, in-house maintenance, retrofit installations, and energy optimization programs.

Wingspire’s managing director, David J. Turco, highlighted the strategic nature of the deal,

“We are proud to provide a flexible capital solution to CoolSys, which provides mission-critical components and services to its customers who rely on refrigeration and cooling to support the profit margin drivers of their own businesses.”

Meanwhile, CoolSys’s industrial refrigeration capabilities illustrate why such financial support matters. The company boasts a nationwide network of self-performing, nationally trained in-house technicians who deliver preventive maintenance, emergency 24/7/365 breakdown response, and proactive monitoring using advanced analytics to avert disruptions before they occur. From cold storage and distribution to food manufacturing, CoolSys ensures that industrial operations, where every degree and minute of downtime matters, remain uninterrupted.

As supply chain volatility, energy costs, and regulatory pressures intensify, CoolSys needs capital that moves with urgency and understanding. The extended tenor and refinanced obligations create a buffer, empowering CoolSys to continue its evolution from mere service provider to trusted strategic partner for businesses that cannot afford cooling failures.

This deal also marks a broader shift in how non-bank lenders like Wingspire engage with middle-market firms. Beyond balance sheets and credit terms, these lenders bring tailored solutions that match the pace and specificity of industries like refrigeration services.

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