The Future of CoolSys Under Ares Ownership
April 16, 2019
by Adam Coffey
As it has been announced – CoolSys has a new owner! Welcome Ares Management to the scene. With Ares’ resources and support, we can grower bigger and better and open up more opportunities for our people.
I’d like to start by thanking everyone on the CoolSys team who put in their all to help prepare for this sale. This is a tremendous milestone for our company and a testament to the talented people we have assembled and the rapid growth we have achieved together over the last three years. Our hard work has paid off big time, and we are positioned for great things under Ares’ ownership. You should all be exceptionally proud. I know I am!
So let me tell you a little about Ares.
Ares is one of the largest private equity firms on the planet with over 1,000 employees and $131 billion in capital under management. For those that want to learn more about Ares, check out their website. I have known the folks at Ares for more than a decade, as they were involved in my previous company. These are good people! Ares will help us accelerate growth from our current $435M of revenue to north of a billion over the next five years. They are eight times the size of our previous owners and that size will translate to more capital and more opportunities for expansion.
Ares is a publicly traded company. I have received questions from some of you about that: “If Ares is public – does that mean CoolSys is public?” The answer to that question is no. Think of it in terms of this analogy: The bank where you have your paycheck deposited might be public, but the money in your account is yours and is private – not the bank’s. Same thing here. CoolSys remains privately owned and operated.
So what happens next? Day-to-day, our jobs remain the same. Our executive leadership stays as is. I’ll still be at the helm and our commitment to offering best-in-class solutions remains unchanged. However, the potential that this unlocks for our employees and the future of our company is very exciting.
For more information about what’s in store for CoolSys and our operating brands, I invite you all to watch our new leadership video series. For those who like to binge watch – here are the links to all five episodes!
Episode 1: “A New Way to Lead for ’19”
Episode 2: “It’s All About People at CoolSys”
Episode 3: “Growth and New Ownership”
Episode 4: “Life Cycles and End Markets”
Episode 5: “Big Things on The Horizon”
Let me close by echoing the title of episode five — big things are on the horizon. It’s a great time to work for the CoolSys family of companies. Thank you all for joining us on this adventure.