CoolSys

CoolSys

Refrigeration and HVAC design, installation, maintenance

Overview

CoolSys provides refrigeration and HVAC services to retail, commercial, and industrial clients. It designs, installs, and remodels systems, converts refrigerants, performs preventative maintenance, repairs, and optimizes energy use and overall system performance. Their products are not a physical device but a service offering: engineers create system designs, technicians install and service equipment, and ongoing monitoring and maintenance help keep temperatures stable and energy use efficient. What sets CoolSys apart is its broad, industry-focused experience across grocery, food service, telecommunication, manufacturing, education, entertainment, and pharma sectors, plus a persistent emphasis on reliability, integrity, and meeting client commitments while addressing environmental sustainability. The company aims to improve clients’ operations, experiences, and work environments through high-quality, dependable service and energy-efficient, properly maintained systems.

Significant Headcount Growth

About CoolSys

Simplify's Rating
Why CoolSys is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Energy

Company Size

1,001-5,000

Company Stage

Debt Financing

Total Funding

$150M

Headquarters

Brea, California

Founded

2017

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Simplify's Take

What believers are saying

  • Ares acquired CoolSys in 2025, signaling deeper capital support and exit optionality.
  • Rich Wyckoff became CEO in 2025, stabilizing leadership after Rick Frier's interim run.
  • June 2026 acquisitions in Connecticut and Virginia extend geography and deepen Northeast density.

What critics are saying

  • Melinda James wage claims in California expose CoolSys to settlement costs and copycat suits.
  • The 2025 $150 million facility keeps lenders inside a heavily leveraged roll-up.
  • Rapid acquisitions from Eastern Refrigeration to Richmond Refrigeration risk integration failures and service outages.

What makes CoolSys unique

  • CoolSys serves 45,000 locations with 3,200 employees nationwide.
  • It covers design, installation, maintenance, energy optimization, and end-of-life recommercing.
  • Ares-backed consolidation gives CoolSys unusual national density across refrigeration and HVAC.

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Funding

Total Funding

$150M

Above

Industry Average

Funded Over

1 Rounds

Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Debt Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Paid Vacation

Paid Holidays

401(k) Company Match

Training Programs

Tuition Reimbursement

Pet Insurance

Employee Discounts

Performance Bonus

Growth & Insights and Company News

Headcount

6 month growth

25%

1 year growth

25%

2 year growth

25%
FreightWaves
Sep 4th, 2025
CoolSys secures $39.5M: A game-changer for cooling industry

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

Abl Advisor
Sep 3rd, 2025
Wingspire Capital Provides $39.5MM Senior Credit Facility to CoolSys - News | ABL Advisor

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...

Business Wire
Oct 1st, 2024
CoolSys Acquires Mechanical Engineering & Construction Corporation

CoolSys™, the market-leading provider of sustainable refrigeration, HVAC, energy and engineering solutions, has acquired Mechanical Engineering &

The Daily Record
Sep 30th, 2024
CoolSys acquires Catonsville mechanical engineering firm

In acquiring MEC2, CoolSys will strengthen its commercial and industrial capabilities while deepening its market presence in the mid-Atlantic region.

Business Wire
Jun 18th, 2024
CoolSys Acquires Universal Refrigeration

CoolSys acquires Universal Refrigeration.

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