SHARE:  
Join Our Email List
Audax Private Equity Portfolio Company, CMS Nextech, acquires DegreeOne portfolio of HVAC/R companies
Melbourne, FL
Schaumburg, IL
The Company
DegreeOne is a portfolio of HVAC/R companies comprised of eight operating entities:
  • Metrotech, a national commercial HVAC service provider
  • Kore Refrigeration, a commercial refrigeration and HVAC service provider in the Western United States
  • Custom Cooling, a commercial HVAC service provider in the Southeastern United States
  • Pro Tek and Pro Plus, a commercial kitchen equipment service provider in greater metro New York
  • Core Mechanical, a commercial kitchen and HVAC service provider in Texas
  • Ressac, a commercial HVAC and refrigeration service provider in California
  • All Seasons, a commercial HVAC service provider in Colorado
  • North Town, an HVAC service provider in Greater Chicago
The Deal
CMS Nextech (“CMS”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of the DegreeOne portfolio of operating entities. The acquisition expands CMS’s geographic footprint, enhances technician density, and provides access to a broader universe of customers to serve. Proforma for the acquisition of DegreeOne, CMS now self-performs in 45 states and has approximately 1,000 service technicians. This represents the company’s third acquisition since Audax’ investment.
The Thesis
In November of 2020, Audax partnered with CMS Nextech, one of America’s largest independent, self-performing commercial HVAC/R service providers. Headquartered in Melbourne, Florida, CMS provides commercial HVAC/R repair, maintenance, and installation services. Audax entered the partnership with the goal of building a comprehensive, national HVAC service platform with the ability to service customers across all 50 states. Audax will continue to work with the CMS management team to drive further organic growth and accelerate its acquisition strategy to widen its footprint, expand its customer base, and continue to drive efficiencies within the business.
Recent Platform Acquisitions
Audax By The Numbers
Transformational Growth
Through our Buy & Build approach, we seek to help our platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value.
Please see our historical portfolio for a full list of platform acquisitions.
A full list of transactions will be provided upon request
Contact
William Gonzalez
Managing Director
(617) 859-1545

Cory Mims
Managing Director
(617) 859-1522

Michelle Bitman
Vice President
(650) 252-0613