Atlantic Street Capital Acquires Stake in HVAC Distributor GLP
Private equity firm Atlantic Street Capital has partnered with Toronto-based GLP to fuel the next phase of expansion for the specialized HVAC distributor. The deal aims to leverage GLP's sixty-five-year history in technical engineering and equipment supply to accelerate growth across North American telecom, utility, and industrial sectors.
Founded in 1958, GLP provides a comprehensive suite of HVAC systems, components, and warranty administration services. By integrating Atlantic Street Capital’s operational resources with its own engineering-focused model, the distributor intends to scale its footprint through both organic development and strategic add-on acquisitions.
Philip Desrochers, CEO of GLP, noted that the infusion of resources allows the company to capitalize on its existing technical expertise while targeting new markets. Paul Sun, a partner at Atlantic Street Capital, cited GLP’s strong reputation in mission-critical settings as a primary driver for the investment. KeyBanc acted as the exclusive financial advisor for the transaction, which focuses on firms with EBITDA between $4 million and $25 million.
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