Rotunda Capital Partners Sells Munch’s Supply to Ridgemont Equity Partners

Rotunda Capital Partners, LLC (“Rotunda”), a private equity firm focused
on lower middle market and family-owned holdings, announces the sale of
Munch’s Supply, a leading wholesale HVAC distributor, to Ridgemont
Equity Partners. Financial terms of the transaction were not disclosed.

Munch’s Supply, based in New Lenox, Illinois, serves residential and
commercial customers in the Midwest, Great Plains and Mountain states,
distributing products from more than 100 trusted HVAC equipment, parts
and supplies manufacturers, including Trane, American Standard, Rheem
and Mitsubishi.

Rotunda acquired a majority stake in Munch’s in 2015. Since Rotunda’s
investment, Munch’s tripled in revenues, completed four acquisitions,
and expanded from seven locations in one state to 27 locations in nine
states.

“On the first day of our investment in Munch’s, we set a goal with the
Munch’s leadership team to become the acquirer of choice in the HVAC
distribution industry,” said Corey Whisner, partner at Rotunda Capital
Partners. “With four acquisitions under their belt, I believe the
Munch’s team has achieved that goal and is poised for future growth.”

“Rotunda was a true partner to Munch’s, providing valuable strategic
insight while investing in people and resources to help us achieve our
goals,” said Bob Munch, CEO of Munch’s Supply. “We are a significantly
larger, stronger, and better organization because of our partnership
with Rotunda.”

Rotunda Partner Dan Lipson credits Munch’s historically strong company
culture and customer-service focus, which have not wavered during the
company’s rapid growth. “The Munch’s management has done an outstanding
job investing in its people and infrastructure to maintain its
commitment to best-in-class service, while substantially expanding the
organization,” said Lipson.

Ridgemont Equity Partners, a middle market private equity investor,
looks to continue Munch’s growth trajectory in partnership with existing
management through further investment and increased M&A initiatives.

The transaction closed on April 11, 2019. Lincoln International acted as
financial advisor to Munch’s and Benesch Friedlander served as legal
counsel.

About Munch’s Supply

Munch’s Supply is a leading wholesale distributor of HVAC
equipment, parts and supplies to residential and commercial customers in
the Midwest, Great Plains and Mountain states. The Company distributes
products from more than 100 leading HVAC equipment, parts and supplies
manufacturers, including Trane, American Standard, Rheem and Mitsubishi.
Munch’s Supply was founded in 1956 and is headquartered in New Lenox,
Illinois. www.munchsupply.com

About Rotunda Capital Partners

Rotunda Capital Partners is a private equity firm that invests equity
capital in established and profitable lower middle-market companies. As
an independent deal sponsor, Rotunda Capital raises and invests the
capital of its principals, institutions, family offices and high net
worth individuals on a deal-by-deal basis. The firm uses a rigorous
approach to identify market-leading companies with identifiable growth
opportunities and capable management teams in targeted sectors,
including distribution, logistics, financial services and business
services. Rotunda Capital partners with industry-leading operating
executives to grow each portfolio company. Since 2009, Rotunda Capital
has completed 12 platform investments and realized four exits. The
partners of Rotunda Capital actively provide guidance and draw on deep
industry and financial relationships to contribute to the successful
execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com.

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