Milford, Conn.-based Commercial Kitchens represents the sixth acquisition for Tech24. Back in September, Tech 24 acquired Illinois-based Yukon Refrigeration. This is part of private equity firm HCI’s consolidation strategy in the foodservice equipment repair market, per a release announcing the deal. Tech24 is backed by HCI. “We are pleased with the pace of our acquisitions for the Tech24 platform and the increasing set of capabilities we can provide to our customers,” says Doug McCormick, HCI’s managing partner.
And Tech24 is not alone in its efforts to acquire service agents. For example, earlier in November, Parts Town parent company PT Holdings acquired K&D Factory Service and Pine Tree Food Equipment. That deal came a few months after PT Holdings acquired Minnesota-based General Parts.
Also getting in on the act is Smart Care Equipment Solutions. Minnesota-based Smart Care acquired PureMist Corp. and VP Coffee in late October. Those deals represent Smart Care’s fifth and sixth acquisitions.
Commercial Kitchens provides repair and planned maintenance services for commercial kitchens for healthcare, education and other institutional foodservice operators across Connecticut, New York and northern New Jersey. Commercial Kitchens’ position in the institutional foodservice market represents one reason Tech24 found the company an attractive acquisition target, per a company release.