HCI Equity Partners’ Backed Tech24 Acquires Alliance Mechanical Services, Inc.
Tech24, backed by HCI Equity Partners, announced it acquired Alliance Mechanical Services, Inc. (“Alliance”) on March 1, 2021. Tech24 is a national provider of installation, preventative maintenance and emergency repair services for foodservice and HVAC equipment and serves convenience stores, restaurants, coffee shops and concession operations, among other foodservice establishments. Alliance is the third add-on acquisition in HCI’s consolidation strategy in this market. Financial terms were not disclosed.
Alliance Mechanical Services, based in Chicago, Illinois, is a provider of service, installation and maintenance for commercial HVAC and foodservice equipment. The Company specializes in providing services for walk-in coolers and freezers, process chillers and cold rooms. The Company increases Tech24’s market share in Chicago, introduces new blue-chip customers and expands cold-side offerings.
“We are excited about adding Alliance to the Tech24 Team. Bob & Jeanine Wartan have built a great team and a successful business over the past 39 years. The addition of Alliance, along with our previous acquisitions, gives us a rapidly growing footprint that will enable us to better service our combined customer base” said Tech24 CEO Dan Rodstrom.
Doug McCormick, Managing Partner at HCI, stated, “Alliance represents a very complimentary geography and service capability for the Tech24 platform as we execute our strategy of becoming a nationwide, full-service foodservice equipment repair and installation business. We are ecstatic Alliance has joined the team as our third acquisition since purchasing Tech24 in June 2020 and believe our success in consummating these acquisitions validates the quality of our approach, strategy and new team members.”
HCI Equity Partners remains committed to providing the consolidated Tech24 team with additional capital and support needed to accelerate growth and develop best-in-class service capabilities. If you are a food or commercial HVAC equipment service provider interested in partnering with HCI and Tech24, please contact Nate Novak at firstname.lastname@example.org.