Source Capital, LLC, an Atlanta-based private equity firm, acquired M&M Refrigeration, LLC, a Federalsburg, Md.-based provider of industrial refrigeration equipment and control systems for cold storage, food processing and other industrial applications. 

"We will continue to serve our customers and bring cutting-edge products to the industry while honoring the core values that our company was built on. This acquisition represents an exciting time in M&M's history," says Duane Marshall, chief executive officer of M&M Refrigeration.

"Source Capital is the right partner for this transition. I am pleased to see the company in good hands for the next phase of growth," adds Dufferin McConnell, founder of M&M Refrigeration.

"M&M has established a leadership position in the industrial refrigeration market over its 49-year history. We are thrilled to partner with Duane and the rest of the M&M team and we look forward to growing the business," says Tom Harbin, managing partner at Source Capital.