Smart Care Acquires Watson Refrigeration
Combination extends Smart Care’s capabilities and reach into North Carolina
Chicago, Ill. – November 8, 2023 — Smart Care, a portfolio company of Wind Point Partners (“Wind Point”), is pleased to announce the acquisition of Watson Refrigeration, Inc., (“Watson”), a commercial refrigeration equipment installation and repair company. The addition of Watson expands Smart Care’s presence into North Carolina and the region and represents Smart Care’s tenth overall since partnering with Wind Point.
Based in Raleigh, North Carolina, Watson is a provider of installation, emergency repair, and preventative maintenance services for refrigeration equipment. Founded in 1988, Watson has earned a reputation as a premier installation contractor and service provider for grocers, food distribution centers and restaurants throughout North Carolina and surrounding states.
Headquartered in Chicago, Ill., Smart Care is a market leader in stand-alone refrigeration, rack refrigeration, HVAC, hot-side commercial cooking and specialty coffee and beverage equipment. Watson will join Smart Care’s Climate Solutions business, which specializes in refrigeration systems and has developed a strong reputation for service quality and engineering expertise. The Climate Solutions business serves thousands of customers spanning grocers, warehouse operators, convenience stores and restaurants across the U.S.
“Watson is a great addition to the Climate team,” remarked Joel Lehman, President of Smart Care Climate Solutions. “They are a premier contractor and service organization in North Carolina, bringing strong refrigeration capabilities that fit well with our strategy of expanding presence with existing customers in attractive geographies. This partnership allows the combined organization to accelerate growth while building upon Watson’s strong foundation.”
Smart Care will continue to seek strategic acquisition opportunities, with a focus on leading commercial refrigeration, kitchen equipment and HVAC repair and maintenance service providers throughout the U.S. and Canada.
About Smart Care
Smart Care is the largest provider of comprehensive commercial mechanical services, including stand-alone refrigeration, HVAC, complex rack refrigeration, hot and cold-side foodservice equipment, and specialty coffee and beverage. Smart Care’s strong reputation and leading customer service is built on the foundation of a high-quality technician base, an unmatched breadth of repair and preventative maintenance services and quick response times. Smart Care is OEM-agnostic with the ability to service more than 10,000 types of equipment for food retail, restaurants, convenience stores, warehouse operators and other institutions. The company is headquartered in Chicago, Ill. with operations in all 50 states.
Additional information about Smart Care is available at www.smartcaresolutions.com.
About Watson Refrigeration
Watson is a premier commercial refrigeration equipment services company specializing in installation, emergency repair and preventative maintenance. Since 1988, Watson has provided critical services to customers across grocery, food distribution centers and restaurants throughout the North Carolina region.
About Wind Point Partners
Wind Point Partners is a Chicago-based private equity investment firm with approximately $6 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors. Wind Point is currently investing out of Wind Point Partners X, a fund that was initiated in 2022.
Additional information about Wind Point is available at www.wppartners.com.