Industry: Industrials / Machinery
The Employee Stock Ownership Plan (“ESOP”) purchased 40% of the common stock of the Company in a leveraged ESOP recapitalization.
The Company is one of the largest independent companies in the nation focused on large tonnage chiller plants, utilized in commercial and industrial facilities. The Company provides comprehensive cooling solutions to owners with chilled water equipment and helps its customers prevent and solve both routine and catastrophic cooling system problems.
Pendo Advisors, LLC served as independent financial advisor to the trustee of the ESOP and provided a fairness opinion in connection with the transaction.