M&M Refrigeration was acquired by Source Capital LLC, a private equity firm. The Federalsburg, Md.-based company provides industrial refrigeration equipment and control systems for cold storage, food processing and other industrial applications.

M&M designs, builds, manufactures and services industrial refrigeration systems globally. Its product line extends from low-charge configurable modular units to fully customized systems. M&M, which has additional offices in Alabama and Florida, is acknowledged for being the first company in the United States to implement CO₂ cascade refrigeration systems.

“M&M has established a leadership position in the industrial refrigeration market over its 49-year history,” said Tom Harbin, managing partner at Source Capital. “We look forward to growing the business.”