Private equity firm Atlantic Street Capital has invested in Canadian HVAC distributor GLP, with the companies planning to accelerate the distributor’s expansion across existing and new markets.

New York-based Atlantic announced the partnership Sept. 24. Financial terms and the size of its ownership stake were not disclosed.

Founded in 1958, GLP is a value-added HVAC distributor that supplies equipment, replacement parts, accessories and components from North American manufacturers. The company combines distribution with technical and engineering support, providing customers with services spanning system design through warranty administration.

GLP operates nearly 70,000 square feet of warehouse space across facilities in Oakville, Ontario, and Calgary, Alberta. Its markets include industrial, oil and gas, utilities, telecom and data infrastructure, energy storage, light commercial, residential, modular and manufactured housing, recreational vehicles and institutional facilities. The distributor also serves applications involving ventilation, energy recovery and indoor growing.

Atlantic Street said it plans to support GLP’s continued organic growth along with expansion through acquisitions. GLP President Cameron Roblin said the distributor has previously added and integrated other distributors and expects the partnership to help expand its geographic reach and product portfolio.

“We are extremely excited about partnering with Atlantic Street to pursue the numerous opportunities that will continue GLP’s expansion,” GLP CEO Philip Desrochers said.

Atlantic Street focuses on lower-middle-market companies headquartered in the U.S. and Canada. The firm typically targets platform businesses with $4 million to $25 million in EBITDA and makes equity commitments of $15 million to $75 million. Its investment structures include recapitalizations, management buyouts, family succession transactions, corporate divestitures and consolidations.

KeyBanc served as GLP’s exclusive financial advisor on the transaction.