Source Refrigeration Names New President & CEO
ANAHEIM, Calif., March 9, 2012 /PRNewswire/ — Source Refrigeration & HVAC announced today that Bruce Buchholz has been named as President & Chief Executive Officer, effective March 12, 2012.
Buchholz replaces Lauren Abrams, who resigned as CEO of Source last month, for medical reasons. Lauren joined Source in 2009 as Chief Operating Officer and was named CEO in April 2011. Per Source Chairman, Brad Howard, “Lauren brought high energy, and a level of commitment that have been evident to all of those who had the privilege of working with her. Her relentless dedication to customer service excellence and business process improvements has made Source a better company for our customers and employees. We thank Lauren for her leadership and wish her well in her recovery.”
Buchholz has been a senior executive in the HVAC industry for over 25 years and brings to Source extensive leadership experience in domestic and international operations. Most recently, Bruce led two companies focused on environmentally “green” solutions in the HVAC and clean technologies markets. He was the Chief Operating Officer for Clean Energy Developments (CED), headquartered in Toronto, Ontario, who supplied custom integrated HVAC solutions across Canada. Prior to his work at CED, Bruce was President & CEO for Green Comfort Systems, Inc., an international energy conservation company specializing in novel dehumidification systems. He also served as President of Alltrista Thermoformed Products, the largest industrial thermoforming company in North America. Bruce spent over 15 years with Carrier Corporation in various executive leadership roles including, Regional Vice President – North American Operations, Managing Director – Miami Region, Latin America Operations, Vice President – Global Window Room Air Conditioner Business, and Director – Corporate Advanced Manufacturing and CAE/CIM Systems. Bruce assumed responsibility for global management of Carrier’s Research and Development and Advanced Manufacturing practices and led the successful growth of several distribution and service businesses in the commercial and residential markets.
“We are excited about Bruce leading the Source team,” said Sal Gagliardo, an Operating Partner at Arsenal Capital Partners. “His deep experience in the energy solutions and HVACR industries, his proven history in successful business growth through process improvement and increased customer satisfaction, and his multi-site operations experience make him a great fit for the Source business model.” Gagliardo added that, “We expect to accelerate Source’s growth in the mission-critical refrigeration & HVAC industry and believe Bruce is the leader to help us achieve our goal.”
Bruce earned his Master of Business Administration in Finance from Syracuse University, and his Master of Engineering and Bachelor of Science in Agricultural Engineering from Cornell University.
About Source Refrigeration & HVAC
Source Refrigeration & HVAC is the leading independent provider of commercial refrigeration and HVAC services in North America, serving the nation’s top supermarket chains, many of the largest convenience store chains and leading telecom companies. With over 1000 employees and service locations nationally, Source designs, installs, manages, maintains and optimizes mission-critical refrigeration & HVAC systems. For additional information about Source Refrigeration & HVAC, please visit www.sourcerefrigeration.com.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle-market specialty industrial, healthcare and financial services companies. Arsenal makes investments in sectors where the firm has prior knowledge and experience, and targets businesses that have the potential for further value creation by working closely with management to accelerate growth and leverage the firm’s operational improvement capabilities. Arsenal currently has $800 million of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.
Source Refrigeration & HVAC, Inc. CONTACT: Michael Ochoa 714.578.2330 firstname.lastname@example.org
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