Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of L & I Refrigeration, Inc. to a Private Family Fund. The acquisition closed July 3, 2025.

Based in Middlefield, Connecticut, L & I Refrigeration, Inc. is a family-owned commercial refrigeration company founded in 1964. Now in its second generation with third-generation involvement, the business serves convenience stores, restaurant chains, and independent retailers across Connecticut and Western Massachusetts. Serving a wide range of clients—from national chains to regional convenience outlets and individual mom‑and‑pop shops—they provide reliable design, installation, equipment supply, and ongoing service. With over 20 years of on‑call expertise, prompt customer service, and a reputation built on professionalism and responsiveness, L & I Refrigeration continues to be a trusted partner in the region’s food‑service and retail refrigeration markets.

Generational Group Executive Managing Director, M&A, Eastern Region – David Fergusson, and his team led by Managing Director, M&A, Ahmad Behjati with the support of Senior Vice President, M&A, Tristan Keeffe successfully closed the deal. Executive Managing Director and Group Leader, David Robinson and Senior M&A Advisor, Jerry Schram, established the initial relationship with L & I Refrigeration, Inc.

Ryan Binkley, CEO of Generational Group, stated, “This achievement reflects the strength of our team, the clarity of our vision, and the continued trust our clients place in us. We're committed to creating lasting value through every outcome we deliver.”

About Generational Group

Generational Group, headquartered in Dallas, TX, is a leading, award winning full-service M&A advisory firm. Generational has over 300 professionals across 16 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including strategic growth consulting, exit planning education, business valuation, value enhancement strategies, M&A advisory, digital solutions, and wealth management.

Celebrating its 20^th year, Generational has successfully closed over 1,700 transactions and consistently ranks #1 or #2 in all LSEG league tables for deals valued between $25 million and $500 million.

The firm was named 2024 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in both 2024 and 2022.

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