# Value Added HVAC Distributors partners with The Master Group

Value Added HVAC Distributors (VAD) and its three subsidiaries entered a strategic partnership with The Master Group, a portfolio company of Novacap. Terms were not disclosed.

- Type: Acquisition
- Announced: 2021-12-13
- Where: Midlothian, Virginia, United States
- Status: completed
- Products: residential HVAC equipment, commercial HVAC equipment, heating equipment, air-conditioning equipment
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [The Master Group](https://endata.com/companies/7229.md) (acquirer)
- [Novacap](https://endata.com/companies/10320.md) (investor)
- [Value Added HVAC Distributors](https://endata.com/companies/59675.md) (target)

## Sources

- [boxwoodpartners.com](https://www.boxwoodpartners.com/press-releases/2021/12/boxwood-partners-advises-value-added-hvac-distributors-on-its-strategic-partnership-with-the-master-group), 2021-12-13: "We are excited to join The Master Group, which we believe was the perfect fit for us and our vision for growth."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.