Latest Kemmons Wilson Companies News
Dec 16, 2014
Email | Twitter | LinkedIn | Google+ Evaporcool Solutions has formed a partnership with a long-time Memphis company. Kemmons Wilson Companies has made an equity investment in the company, a move that is expected to increase its sales organization around the U.S., and also adding new employees. While financial details of the deal weren't revealed, Ben Taube , senior vice president of corporate and strategic development for Evaporcool, said Kemmons Wilson Companies' investment is the first time an equity investment has been made in the company. Evaporcool manufactures the Evaporcool System, an after market HVAC retrofit designed to improve the energy efficiency of air conditioning and refrigeration systems. The company currently employs around 12 employees, and could immediately bring in another five. "Evaporcool decided it was time to raise some equity capital, and we spent a period of six months figuring out the right way to do an investment," Taube said. "We're both Memphis-based and we're excited about the opportunity to work with them. " In addition to the investment, Kemmons Wilson Companies will also provide strategic and tactical guidance by playing an active role in the business. "What we saw in Evaporcool was a quality product meeting the energy efficiency needs of its customers with favorable pay back periods, a dedicated and extremely talented employee base, along with favorable market trends," Cecil Carney , president of private investments at Kemmons Wilson Companies, said. "We believe with our experience we can help the company maximize their strong position in the marketplace, taking their growth to another level. Evaporcool is a transformational business that will have a positive impact on the environment as well as in the Memphis community – we want to be a part of that story. " Sign up for free email newsletters delivering exclusive news scoops and local business intelligence from the Memphis Business Journal. Michael Sheffield covers bioscience and biotechnology; manufacturing; tourism and hospitality; and sports business. Contact him at firstname.lastname@example.org .
Kemmons Wilson Companies Team
1 Team Member
Kemmons Wilson Companies has 1 team member, including current Chief Executive Officer, Rebecca Wilson Macsovits.