Rotunda Capital Partners Completes the Sale of Refrigeration Sales Corporation

BETHESDA, Md. & EVANSTON, Ill.–(BUSINESS WIRE)–Rotunda Capital Partners, an operationally focused lower middle-market private equity firm, is pleased to announce the sale of Refrigeration Sales Corporation, a leading HVAC/R parts and equipment distribution platform serving greater Ohio and Pittsburgh, to The Master Group, a leading North American distributor of HVAC/R products. Rotunda made its investment in RSC in June 2021.

Dan Lipson, Managing Partner at Rotunda, commented, “In a short period of time we worked closely with the management team to strengthen the business. We accomplished our goal which was to invest heavily in the management team and infrastructure to transform a multi-generation family-owned company into a data-driven platform. We are proud to have supported the Company’s growth while maintaining a focus on top-quality customer service.”

Corey Whisner, Managing Partner at Rotunda, added, “RSC has a long history as one of the preeminent HVAC/R distributors in its territory and we are confident that Master Group is the right partner to help them grow into the future. It is important to Rotunda that RSC, and their commitment to the brands they represent, remain the focus and we are confident that will be the case given The Master Group’s acquisition history and emphasis on entrepreneurial culture and local decision making.”

RSC CEO Rhonda Wight added, “We have had a remarkable partnership with Rotunda. The Rotunda team provided us with the operational tools and distribution expertise to help the Company get to where it is today. Through our partnership with Rotunda, we have never strayed from our core value as a leading distributor with a relentless focus on our customers. We look forward to continuing our momentum under our new owners.”

The Rotunda team included Corey Whisner, Dan Lipson, Rohit Dhake, Brian Kim, Nathan Bertsch and Alex Gebert. Houlihan Lokey served as financial advisor, and Benesch Friedlander Coplan & Aronoff LLP served as legal counsel.

About Refrigeration Sales Corporation

Refrigeration Sales Corporation is a wholesale distributor of heating, ventilation, air conditioning, and refrigeration equipment. The Company is headquartered in Valley View, OH and operates out of 10 locations in Northeast Ohio and Western Pennsylvania. RSC serves as a critical link between more than 200 suppliers and 2,800 customers. In 2022, RSC was ranked the 24th largest HVAC/R company in the United States. For more information, visit

About Rotunda Capital Partners

Rotunda Capital Partners is an operationally oriented private equity firm focused on transforming family-founder owned companies into dynamic, data-driven platforms able to achieve and manage significant growth. Since its founding in 2009, Rotunda has partnered with management teams to build great businesses within three primary sectors: value-added distribution, asset-light logistics and industrial & business services. Rotunda strives to achieve replicable results by implementing its Rotunda Performance System to create strategic alignment, develop lean processes and create robust, data-driven infrastructures. For more information, visit