Market news, 15 April 2024
Hart & Cooley LLC, a leading manufacturer of air distribution products for residential and commercial HVAC markets, announced today its ownership has transferred from Johnson Controls International plc to an affiliate of H.I.G. Capital (“H.I.G.”), a Miami-based global private equity firm.
H.I.G. is investing in Hart & Cooley to make them an independent entity once again and secure their future as a leading provider of HVAC products.
“We are excited that H.I.G. has committed to investing in our business. They have a successful track record of adding value to companies like ours,” stated Jim Kaboski, Chief Operating Officer of Hart & Cooley LLC. “This partnership will allow us to continue our focus on growth and innovation along with operational improvements that will provide new opportunities to serve our customers.”
Hart & Cooley will continue its mission to deliver innovative, reliable, and safer products that improve the comfort, sustainability and energy efficiency of buildings. The company will maintain its headquarters in Grand Rapids, Michigan and continue to operate its manufacturing facilities and distribution centers throughout the United States, Canada and Mexico. Established in 1901, Hart & Cooley currently employs over 1,800 employees.
“We are impressed with Hart & Cooley’s industry reputation and comprehensive portfolio of strong, market leading brands,” said Todd Ofenloch, Managing Director, H.I.G. Capital. “We look forward to transitioning the nearly 120-year-old Hart & Cooley back into a standalone company and working with management to ensure the company is well positioned to be the most innovative, engaging and successful competitor in the industry.”
