Heritage Distribution Holdings (HDH)), an Atlanta-based wholesale distributor of HVAC/R equipment, parts, and supplies, backed by leading middle-market private equity firm Gryphon Investors (Gryphon), has announced it has acquired Coastal Supply Co. Inc. (Coastal or the Company), an HVAC/R distributor servicing the East Tennessee market.
Headquartered in Knoxville, Tennessee, Coastal is a 40-year-old, family-owned distributor with six branch locations in and around Knoxville and Johnson City, Tennessee. The Company will continue to be led by General Manager David Kennedy and operate under the Ed's Supply division of HDH.
Tucker Byram, president of Ed's Supply, said, "Coastal has grown steadily since its founding to become the leading distributor in the East Tennessee market, thanks to the management team's commitment to people, products, and service. The Company's focus on service combined with its broad product portfolio makes it a perfect fit for HDH, and I look forward to working with the Coastal team to continue to grow our business."
Alex Averitt, CEO of Heritage Distribution, said, "We are thrilled to welcome Coastal to the HDH family and expand the platform's reach into adjacent areas. As HDH continues to grow through strategic acquisitions, we are adding new customers and enabling more people to live healthier and more comfortable lives."
Kennedy noted, "We are excited to become part of the Heritage Distribution Holdings platform. Being part of a larger organization and the additional resources that come with it will ensure Coastal continues to grow and provide the superior customer experience for which it is known."
Coastal marks the fifth acquisition completed by HDH during Gryphon's ownership. HDH's growing number of brands of HVAC/R distributors operating across the Midwest and Southeast includes Benoist Brothers Supply, Ed's Supply, Nu Comfort Supply, and Wittichen Supply.