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Tech24 Adds Vestar as an Investor

In a move to further support its ambitious acquisition and growth strategy in both new and existing markets, service agent Tech24 added Vestar Capital Partners as an investor. Existing Tech24 investors include HCI Capital Partners and the service agent’s management team.

Founded in 1982 and headquartered in Greenville, S.C., Tech24 provides repair and planned maintenance for commercial refrigeration, cooking, beverage, and HVAC equipment. Tech24 currently services more than 50 markets in 26 states. Its customer base includes restaurants, grocery and convenience stores, retailers, schools and universities, and corporate and government facilities.

Tech24 has completed 19 acquisitions since 2020, per a company release and has been active in this respect in 2023. For example, in August Tech24 acquired Pronto Repairs, a firm serving the New York City area. In June Tech24 bought Total Mechanical Repair Services.

“Vestar's deep experience in both commercial facilities services and the foodservice end market, as well as its track record in partnership-oriented sponsor recapitalizations, positions the firm as a perfect partner for Tech24 as we look to find new ways to accelerate growth,” said Dan Rodstrom, CEO of Tech24 in a release announcing this latest investment in the firm.

Vestar is no stranger to the foodservice industry. The company’s portfolio lists Edward Don & Co., a Woodridge, Ill.-based foodservice equipment and supplies dealer, as one of Vestar’s current investments.