Direct Capital has invested in a leading HVAC services company in New Zealand, the Active Refrigeration Group.
Comprising Active Refrigeration and Thermal Solutions, the group provides HVACR solutions across design, installation and maintenance to industrial and commercial clients.
For more than 25 years, Active Refrigeration has provided sustainable solutions across key sectors, including food and beverage, cold storage, and aged care.
Active Refrigeration co-founder, Craig Duff, said the investment from Direct Capital is a testament to the group’s leadership in the sector, its talented workforce, and its proven track record of innovation and technical excellence.
Duff said with this support the company is well-positioned to expand its service offerings, customer base and drive continued growth.
“Their support and private company expertise will be invaluable as we advance our position as the leading refrigeration and HVAC provider in New Zealand,” Duff said.
“Together, we look forward to building on our achievements, enhance our customer offerings, and create even greater career opportunities for our team.”
The investment represents Direct Capital’s sixth investment from its latest fund, Direct Capital VI, which raised $425 million in March 2020.
Established in 1994, Direct Capital is New Zealand’s largest private equity firm having raised over $1.7 billion in capital for investment into private companies.
Direct Capital has partnered with some of New Zealand’s best-known and most successful businesses, including Beca, the TR Group and Hiway Group.