Audax-backed Smart Care buys Horizon Bradco

Smart Care Equipment Solutions, which is backed by Audax Private Equity, has acquired New York-based Horizon Bradco, a service provider of commercial refrigeration, foodservice and HVAC equipment solutions to supermarket and convenience store customers.

Smart Care Equipment Solutions, which is backed by Audax Private Equity, has acquired New York-based Horizon Bradco, a service provider of commercial refrigeration, foodservice and HVAC equipment solutions to supermarket and convenience store customers. No financial terms were disclosed.

PRESS RELEASE

Audax Private Equity Portfolio Company, Smart Care Equipment Solutions, acquires Horizon Bradco

The Company
Horizon Bradco is a New York based service provider of commercial refrigeration, foodservice, and HVAC equipment solutions to supermarket and convenience store customers.

The Deal
Smart Care Equipment Solutions (“Smart Care”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Horizon Bradco, representing the company’s eighth acquisition since Audax’ investment.

The Thesis
In November 2017, Audax partnered with Smart Care Equipment Solutions, a leading provider of comprehensive commercial kitchen repair and maintenance services to the U.S. commercial food service industry. The company services 40,000+ locations in all 50 states across restaurant, healthcare, education, hospitality, government, and commercial end markets. With over 600 technicians, Smart Care is the largest independent kitchen equipment service organization not affiliated with an OEM manufacturer. Audax is working with Smart Care management to continue expanding its leading platform through organic growth initiatives and add-on acquisitions within the fragmented U.S. kitchen repair and maintenance market. Horizon Bradco adds significant density along the Mid-Atlantic, and creates deeper penetration in the food retail end-market.