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Ares Management PE fund buys HVAC company CoolSys

A fund managed by Ares Management Corp.'s private equity arm purchased CoolSys Inc. for an undisclosed sum.

CoolSys was owned by private equity firm Audax Private Equity. The Brea, Calif.-based company offers refrigeration, as well as heating, ventilation and air conditioning services and solutions. It has more than 2,000 employees serving some 4,000 customers in the retail, food service, commercial and industrial markets across North America.

Proskauer Rose LLP was legal adviser to Ares. Lincoln International was a financial adviser and Kirkland & Ellis LLP was legal adviser to CoolSys.