PLATINUM EQUITY'S CREDIT TEAM LEADS REFINANCING FOR IMPACT CLIMATE TECHNOLOGIES

Incumbent lender Platinum steps up again with new financing solution to support ICT's continued growth

LOS ANGELES, April 30, 2025 /PRNewswire/ -- Platinum Equity announced today it led a financing for Impact Climate Technologies to refinance its existing indebtedness and support future growth of the business. 

ICT is a leading supplier of design-assist engineering and manufacturers' representation services to the commercial HVAC industry across data center, healthcare, life sciences, education, government, industrial and other commercial end markets. ICT offers a comprehensive range of HVAC product lines, including custom air handling units, packaged equipment, precision cooling equipment, air distribution, fans, sheet metal products and a variety of other specialty applied equipment and commercial components.

ICT's operating companies include local firms like Tom Barrow Company (Southeast), RF Peck (upstate NY), H&B Engineered Products (Mid Atlantic), Indiana Thermal Solutions (Midwest), Keller Rivest (Midwest), DMR Associates (Mid Atlantic), Texas Air Products (Texas), Fontanesi & Kann (Midwest), Biogrid (Midwest) and Architectural Building Products (Midwest).

In 2023, Platinum Equity provided a loan to Tom Barrow Company in connection with Ardian's acquisition of a majority stake in the business. Since that time, the company has grown both organically and inorganically, expanded its geographic reach, and deepened its relationship with both vendors and customers. Platinum Equity's latest financing sets the stage for ICT's continued growth in the years to come. 

"ICT and Ardian have been excellent partners, and the ICT platform continues to grow," said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement. "We are enthusiastic to partner with Ardian again and continue supporting their next chapter."

The ICT refinancing was led by Platinum Equity's dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

"As an incumbent lender, we know ICT's operations, leadership team and industry well and are in a great position to provide a new financing solution to support the company's continued growth," said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. "Our aim is to establish meaningful long-term partnerships with borrowers where we can truly add value and continually meet their needs as strategies evolve."

Platinum's credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $50 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O^® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 29 years Platinum Equity has completed more than 450 acquisitions and debt financings.

Contact:

Dan Whelan
Platinum Equity
[email protected]

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SOURCE Platinum Equity