Audax-backed Smart Care Equipment Solutions makes three acquisitions

Smart Care Equipment Solutions, which is backed by Audax Private Equity, has acquired Tool Building Services, Jaguar Coffee Company and Facility Maintenance Services.

Smart Care Equipment Solutions, which is backed by Audax Private Equity, has acquired Tool Building Services, Jaguar Coffee Company and Facility Maintenance Services. No financial terms were disclosed. Based in Liberty, Mississippi, TBS is a provider of commercial foodservice equipment and HVAC services; Jaguar is a provider of specialty coffee equipment maintenance and repair services for espresso machines, coffee brewers, coffee grinders and water filtration systems; and FMS is a provider of hot-side equipment repair and maintenance throughout Florida.

PRESS RELEASE

Audax Private Equity portfolio company, Smart Care Equipment Solutions, completes three acquisitions

The Companies
Total Building Services (“TBS”) is a leading provider of commercial foodservice equipment and HVAC services based in Liberty, MS, serving the Mississippi and Texas markets.
Jaguar Coffee Company (“Jaguar”) is a leading national provider of specialty coffee equipment maintenance and repair services for espresso machines, coffee brewers, coffee grinders, and water filtration systems.

Facility Maintenance Services (“FMS”) is a provider of hot-side equipment repair and maintenance throughout Florida.

The Deal
Smart Care Equipment Solutions (“Smart Care”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisitions of Total Building Services of Louisiana and Jaguar Coffee Company / Facility Maintenance Services, representing the company’s sixth and seventh acquisitions 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 over 40,000 locations in all 50 states across restaurant, healthcare, education, hospitality, government, and commercial end markets, and 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 platform through organic growth initiatives and add-on acquisitions within the fragmented U.S. kitchen repair and maintenance market. TBS, Jaguar, and FMS expand Smart Care’s geographic footprint and increase the company’s capabilities in beverage equipment services.