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Tech24 Buys Allied Service Group

The spate of acquisitions among companies servicing foodservice equipment continued with Tech24’s purchase of Allied Service Group. This marks the third acquisition by Tech24, which is backed by private equity firm HCI Partners, in the last month.

In August, Tech24 acquired AmeriCold and Arrowhead Commercial Equipment. That came on the heels of Tech24’s July purchase of Temco. Two months prior to that, Tech24 purchased Facilities Management, an Indianapolis-based company. 

Tech24 is not the only company continuing to purchase service agents. For example, in August PT Holdings, a company affiliated with restaurant parts distributor Parts Town, acquired Commercial Kitchen Parts and Service. In addition, Smart Care has been active on the acquisition trail. In June of this year Smart Care acquired Dutton Food Equipment Repair and followed that with a July deal to acquire Espresso Partners.

Allied Service Group, Tech24’s 12th acquisition since its affiliation with HCI, provides planned maintenance and installation for foodservice and HVAC equipment, servicing restaurants, grocery stores and other foodservice operators in Southwest Tennesseeand Northern Mississippi. The acquisition provides Tech24 with an additional entry point into the Southeastern U.S. as Allied's headquarters in Jackson, Tenn., is near such metropolitan areas as Memphis, Nashville, Knoxville and Chattanooga.