Innovative Refrigeration
Innovative Refrigeration
Lyndhurst, VA

Partnered with highly successful founder of the leading player in the industrial refrigeration market to accelerate growth of aftermarket service and software offerings and continue to take advantage of strong system demand in core food production and distribution end-markets.

Founded in 1993, Innovative Refrigeration Systems specializes in designing, engineering, manufacturing, and maintaining large-scale, highly efficient ammonia, CO2, and cascade industrial refrigeration systems. The company is vertically integrated and provides a comprehensive suite of services and technology solutions across a system’s lifecycle from initial installation to retrofit and rebuild.

CEO Corner

Mike McGinnis
Mike McGinnis, CEO

“Innovative’s success over the past 30 years has been a direct result of our approach to consistently deliver value to our customers and the commitment of our talented employee base. CCMP is the ideal partner to help us achieve our growth objectives given their extensive experience in growing businesses like ours.”

Opportunity and Why CCMP

  • Leading market position and outstanding reputation for designing & building the highest quality, most efficient, and most reliable industrial refrigeration systems 
  • Large and resilient market with strong forecast growth given average age & inefficiency of existing systems, consolidation of capacity into newer & more efficient sites, regulatory changes, and increasing demand for fresh food
  • Critical nature of industrial refrigeration systems combined with 25+ year lifespan creates a long tail for aftermarket service
  • Founder and management looking for a growth-oriented partner with the experience & resources to assist them in achieving their ambitious value creation plan
  • CCMP has extensive experience and knowledge of the food distribution sector and a strong track record of supporting companies as they seek to grow their mix of aftermarket services and augment their technical service delivery capabilities

Value Creation

  • Favorable market dynamics resulting in strong forecast demand for new systems and retrofits of existing systems 
  • Invest to expand aftermarket service and software offerings across its existing customer base as well as attracting new customers
  • Leverage strong reputation and leading capabilities to acquire new customers and expand into new end-markets

These endorsements are provided by certain current and former executive officers of portfolio companies that are or were previously owned by certain investment vehicles advised by CCMP Growth and CCMP Capital. None of the executive officers were directly compensated for providing these endorsements. However, as a result of the ownership structure of these portfolio companies and the controlling interest held by the funds advised by CCMP Growth and CCMP Capital, a conflict of interest exists because the executive officers have an incentive to make positive statements about CCMP Growth and/or CCMP Capital and their experiences with CCMP Growth and/or CCMP Capital to maintain the goodwill with CCMP Growth. Please refer to Terms of Use and Disclaimers for important information about CCMP Capital Advisors, LP and CCMP Growth Advisors, LP.

For illustrative purposes only. There can be no assurance any such value creation plan will ultimately be achieved as described herein. Certain statements herein reflect the subjective views and opinions of CCMP Growth and its personnel. Such statements cannot be independently verified and are subject to change.