Tech24 has acquired Allied Service Group as it continues its consolidation of the foodservice equipment repair and maintenance market.
The deal is the company’s 12th add-on acquisition. Financial terms were not disclosed.
Allied is a provider of repair services, preventative maintenance and installation for foodservice and HVAC equipment, servicing restaurants, grocery stores and institutions in Southwest Tennessee and Northern Mississippi.
The acquisition provides Tech24 with an additional entry point into the Southeastern US as Allied’s headquarters in Jackson, Tennessee, are near growing metropolitan areas, including Memphis, Nashville, Knoxville and Chattanooga.
Dan Rodstrom, CEO of Tech24, said: “We are excited to welcome Allied Service Group to the Tech24 family. Joe Lasley, president of Allied, has built an outstanding team in Mississippi and Tennessee, and we look forward to working alongside them as Tech24 expands its operations further in the Southeast.”
Doug McCormick, managing partner at Tech24 owner HCI Equity Partners, said: “The Tech24 platform is a great example of how HCI’s investment strategy works to benefit new and existing customers with expanded services and greater efficiencies, through strategic acquisitions in fragmented markets.
“Tech24 and HCI are experiencing strong success partnering with high quality family- and founder-owned businesses across the US, and we are proud of the teams and business we are building.”
