Summit Partners buys majority interest in national parts distributor.
Growth equity investor Summit Partners made a majority investment in Parts Town LLC, a distributor of genuine OEM repair and maintenance equipment parts for the foodservice industry.
Parts Town's founder Bill Reedy, CEO Steve Snower, and the management team will remain sizeable shareholders in Parts Town, according to a company release. Additional terms of the investment were not disclosed.
Founded in 1987, Parts Town markets and distributes OEM parts for foodservice equipment. Additionally, Parts Town provides field service and technical service support.