The private equity owners of Smart Care Equipment Solutions have sold the business to commercial Zone Climate Services, a provider of mission-critical refrigeration and HVAC services backed by Wind Point Partners.
Audax Private Equity had owned the kitchen equipment specialist since 2017, during which time it acquired 14 service companies that strengthened Smart Care’s core service offering, while entering two adjacent markets to better serve customers.
The Minneapolis-based outfit now employs more than 1,400 employees and completes over 350,000 service events annually.
Don Bramley, managing director at Audax, said: “We are proud of the business we built working with the Smart Care team. From the start, we were aligned on how we would execute our ‘Buy & Build’ strategy to help create a company that would deliver value for Smart Care’s customers, associates, communities, and investors.”
Bill Emory, CEO of Smart Care, said the firm is looking forward to the next chapter in its growth.
“My team and I feel very fortunate to have had Audax as a partner over the past four years. They played a critical role in our success by providing unmatched operational expertise and deep business acumen where we needed them.
“In short, our success is a direct reflection of what Don and his team brought to Smart Care and they share equally in our success. Looking forward, we are excited partner with Zone Climate Services to continue to execute on our growth strategy.”
Emory will now move into a new role as Smart Care Equipment Solution’s chairman, with Henry Lees-Buckley managing the combined organisation as CEO.