Atlantic Street Capital has acquired a majority stake in GLP, a Toronto-based HVAC distributor founded in 1958. GLP supplies equipment, parts, and components to utilities, telecom, and industrial clients across North America, offering services from system design to warranty administration. The company focuses on complex, mission-critical environments and has grown through both organic expansion and strategic acquisitions. Paul Sun, partner at Atlantic Street Capital, praised GLP’s reputation as a specialized distribution platform, noting the firm’s experience in value-added distribution. Atlantic Street targets lower middle market companies with EBITDA between $4 million and $25 million, providing capital and operational support. Key Banc acted as GLP’s exclusive financial adviser. This brief was produced with AI assistance.

GLP serves demanding sectors with technical expertise and full-service capabilities. Its growth strategy combines regional expansion with targeted acquisitions of other distributors. Atlantic Street aims to leverage its sector knowledge to support GLP’s next phase of development. The investment reflects continued private equity interest in niche industrial distribution businesses.

The deal underscores the appeal of specialized HVAC distributors serving critical infrastructure. GLP’s long-standing customer relationships and engineering support differentiate it in a fragmented market. Atlantic Street’s involvement may accelerate both organic growth and further consolidation among regional players.