Kelvin Group expands portfolio with acquisition of Dahms Refrigeration Services

Southfield Capital, a leading lower middle market private equity firm, announced the successful acquisition of Dahms Refrigeration Services (DRS) by Kelvin Group. This marks Kelvin’s eleventh acquisition since its partnership with Southfield Capital and represents a strategic expansion into the industrial and commercial refrigeration service sector. DRS, now a part of Kelvin’s RD&S business unit, is headquartered in Norristown, PA, and specializes in mission-critical mechanical services across the United States.

Strategic Expansion in the Mid-Atlantic

The integration of DRS into Kelvin Group’s RD&S business unit significantly enhances Kelvin’s service capabilities in the Mid-Atlantic region. DRS is renowned for its extensive range of services, including maintenance and service of engine rooms and plant equipment in sectors such as cold storage warehouses, dairy and meat processing, and food production. The company also designs custom refrigeration and HVAC systems for manufacturing facilities.

“With the acquisition of Dahms, we’re enhancing our service offerings in the Mid-Atlantic market and reinforcing our position as a leader in the industry,” stated Harry Gray, CEO of Kelvin Group. “The addition of their skilled employees brings valuable knowledge to the RD&S team, positioning us for even greater success in meeting the evolving needs of our customers.”

Leveraging Expertise for Enhanced Service Delivery

This acquisition not only broadens Kelvin’s geographical footprint but also deepens its technical expertise in a specialized industry. Dan Dahms, the former owner of DRS, expressed enthusiasm about the new opportunities for growth and innovation. “This partnership not only marks a new chapter for our team but also opens up exciting opportunities for growth and innovation,” said Dahms. “By leveraging our years of experience alongside the resources and expertise of RD&S and Kelvin Group, we will now provide even greater value to our clients.”

Chris Grambling, Southfield Principal, also commented on the transaction, highlighting its significance. “We are excited to join forces with the DRS team. DRS represents RD&S’s first acquisition under Kelvin Group and expands our service capabilities, significantly enhancing the value we can provide for our customers in the Mid-Atlantic.”

Financial and Legal Framework

The transaction was supported by Deerpath Capital Management and Crescent Capital Group, which provided debt financing. G2 Capital Advisors served as the buy-side advisor to Kelvin, while Finn, Dixon & Herling provided legal counsel to Kelvin and Southfield Capital.

The acquisition of Dahms Refrigeration Services by Kelvin Group underlines the strategic movements within the industrial and commercial mechanical services sectors, aiming for consolidation to leverage shared expertise and expand service offerings. This strategic acquisition positions Kelvin Group to better meet the diverse needs of its clients and enhances its competitive edge in the market.