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Private equity money drives consolidation of kitchen maintenance sector

Spare parts

Kitchen maintenance and repair provider Tech-24 has snapped up United Service Technologies in a move that gives it extra clout in the grocery market in particular.  

United is the fourth add-on acquisition in private equity firm HCI’s consolidation strategy in this market after it bought Tech-24 in June last year.

Headquartered outside of Anaheim, California, with additional locations in Texas and Nevada, United is a provider of repair and maintenance services for commercial food equipment, primarily serving the grocery market.

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The company has been providing installation, planned maintenance and repairs to hot-side equipment in supermarkets for over 25 years.

The acquisition provides Tech-24 with geographic expansion, entrance to the attractive grocery store end market and new blue-chip customers.

Tech-24 CEO Dan Rodstrom stated: “Today is a great day for Tech-24. Adding a premier company like United to our team greatly strengthens our ability to service the grocery market segment. We look forward to sharing best practices with United and across all the Tech-24 Companies to enable us to better service and satisfy our customers.”

Doug McCormick, HCI’s managing partner, added: “United provides access to an attractive customer set and new geographies and is consistent with our long-term strategy of providing our customers with a full-service capability from a national footprint.”

HCI Equity Partners said it remains committed to providing the consolidated Tech-24 team with additional capital and support needed to continue its growth and develop best-in-class service capabilities. 

Financial terms of the United deal were not disclosed.

Tags : maintenanceserviceTech-24United Service Technologies
Andrew Seymour

The author Andrew Seymour

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