Affiliate of Paceline Equity Partners Provides $50 Million Investment to Kelso Industries
DALLAS, November 27, 2023--(BUSINESS WIRE)--An affiliate of Paceline Equity Partners, LLC ("Paceline"), a Dallas-based private equity manager, today announced that it has provided a $50 million investment to Kelso Industries, LLC ("Kelso" or the "Company"). Kelso is a portfolio company of Oxbow Equity Partners ("Oxbow"), a Salt Lake City-based private investment firm, and Peterson Partners ("Peterson"), a Salt Lake City-based investment management firm. Paceline’s investment will be used by Kelso to fund the acquisitions of several complementary businesses.
Kelso is a provider of installation and maintenance services for heating, ventilation, air conditioning, refrigeration ("HVACR") and other mechanical building systems including plumbing, and process piping systems. The Company is based in Phoenix, Arizona and serves a diverse range of industrial, commercial, and institutional clients across numerous geographies.
Sam Loughlin, Chief Executive Officer of Paceline, said "We are excited to contribute to the ongoing expansion of Kelso, a dynamic operating company with a compelling business model and multiple avenues for growth, alongside Oxbow and Peterson. Paceline has significant experience investing in building products and construction sectors, and we look forward to bringing our financial and operational resources to bear to help Kelso scale and accelerate its growth."
Leigh Sansone, Chief Investment Officer of Paceline, added "This transaction reflects Paceline’s ability to source differentiated investment opportunities while building strong, new relationships with likeminded financial sponsors, such as Oxbow and Peterson. We are pleased to provide strategic capital to growing operating companies like Kelso, which we believe has attractive geographic and end market exposure. We look forward to supporting Oxbow, Peterson and the Company’s management team as they continue to deliver a high level of service to customers and pursue various organic and inorganic growth initiatives."
About Paceline Equity Partners
Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across corporate credit, private equity, and real assets. With over $1 billion of commitments currently under management, Paceline’s senior leadership team has 15 years of cohesive investment experience, having worked together previously at a global private equity manager and its affiliates. To learn more, please visit www.pacelineequity.com.
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