Edgewater's Nationwide Cooling Group buys HVAC coil maker Cooney

What's the deal? Nationwide Cooling GroupDealroom has a profile for this one. Try Dealroom →, a portfolio company of Chicago private equity firm The Edgewater FundsDealroom has a profile for this one. Try Dealroom →, has acquired Cooney Coil & EnergyDealroom has a profile for this one. Try Dealroom →, a King of Prussia, Pennsylvania-based provider of replacement coils and engineered solutions for the HVAC/R industry. Terms were not disclosed.

What's the endgame? Nationwide Cooling Group is a vertically integrated HVAC/R platform spanning sales, engineering, manufacturing, and value-added services for the commercial and industrial coil industry. Adding Cooney extends its reach across the coil lifecycle.

Why Cooney? Founded in 2009, Cooney supplies HVAC OEMs, contractors, manufacturers' representatives, and commercial end-users nationwide. Its engineered products include the patented Freeze Block Coils, Thermo-Pack Heat Exchangers, Smart Coil, and Transit Coils.

"The addition of Cooney bolsters the platform's sales and engineering capabilities," said Hal LillerDealroom has a profile for this one. Try Dealroom →, chief executive officer of Nationwide Cooling Group. He added that Cooney's "engineering expertise and patented technologies complement our existing product offering."

The signal: The deal is another step in building out a consolidated HVAC/R coil platform, pairing distribution and manufacturing under one roof. Edgewater, which has raised over $4 billion in capital commitments since 2001, is betting that a fully integrated model can win in a fragmented industrial market.

Read more: The Edgewater Funds

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