Tech24 Acquires Commercial Kitchens, Inc.
Tech24 Completes Sixth Add-on Acquisition
Tech24, backed by HCI Equity Partners, announced today it has acquired Commercial Kitchens on October 29, 2021. Tech24 is a nation-wide provider of repair and maintenance services for food service and commercial HVAC equipment. Commercial Kitchens is HCI’s sixth add-on acquisition in the highly fragmented foodservice repair market. Financial terms were not disclosed.
Headquartered in Milford, Connecticut Commercial Kitchens has been a provider of repair services, preventative maintenance, and installation for foodservice equipment to healthcare, college & schools, and other corporate and institutional customers in the Northeast and New York Metro area markets for 45 years.
“We are extremely pleased to add CK to the Tech24 family” said Dan Rodstrom, CEO of Tech24. “We look forward to working closely with Rich and the team to grow their fixed cost service model across the entire, growing Tech24 footprint. They have provided a valuable service model to institutional customers looking for budget certainty.”
Rich Pinto noted CK has been built on their “bonding to customers forever” approach. “Our existing contract partners will continue to receive the same high level of service they have come to expect. We are excited about this opportunity to join with and grow the unique Commercial Kitchens model under the Tech24 national umbrella.”
Doug McCormick, HCI’s Managing Partner commented, “We are excited about the pace of our consolidation strategy execution for the Tech24 platform. Commercial Kitchens has a strong history of growth and profitability and provides a specialized expertise to the entire Tech24 organization.”
HCI Equity Partners remains committed to providing the consolidated Tech24 team with additional capital and support needed to continue its 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 email@example.com
Quarles & Brady served as legal counsel to Tech24.
Tech24 provides installation, preventative maintenance, and repair for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage, and specialty foodservice equipment, as well as performs HVAC, electrical and plumbing services. For more information, please visit www.mytech24.com.
About HCI Equity Partners
HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing, and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.
Kelsey Clute, VP, Director of Communications, HCI
Lisa Baker, Lambert & Co.