Intermediate Capital Group completed the investment in Gil-Bar Industries.

Private equity firm Intermediate Capital Group completed the investment in Gil-Bar Industries, a provider of heating, ventilation and air condition solutions. Financial terms were not disclosed. "We are delighted to announce this partnership as the first investment for ICG’s North American Direct Private Equity team. Gil-Bar has the key hallmarks we look for in an investment opportunity: a market leader with an excellent management team, and significant runway for growth both organically and through acquisitions. We are excited to partner with Joe Sbarra, Chris Bisaccia, and the rest of the Gil-Bar team," Alan Jones, ICG Head of Direct Private Investments for North America.