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Tech24 Acquires Eighth Service Agent

Tech24 has purchased Indianapolis-based Facilities Management. This marks the eighth acquisition for Tech24, which is owned by private equity firm HCI. Financial terms were not disclosed.

Facilities Management provides repair services, planned maintenance and installation for refrigeration, hot-side equipment and HVAC equipment to the restaurant industry in central and northern Indiana.

This marks the latest in a series of acquisitions by Tech24. In December 2021, Tech24 acquired Pennsylvania-based RMS Services. And in September of 2021 Tech24 acquired Yukon Refrigeration.

In general, the service agent sector has remained a hotbed of acquisition activity of late. For example, in April Smart Care Equipment Solutions was acquired by Zone Climate Services, a provider of commercial and industrial refrigeration and HVAC services to grocery stores, convenience stores and foodservice warehouse customers. Prior to that, in January Parts Town and Smart Care purchased a parts distributor and another service agent, too.