Blue Point-backed Russell Hendrix acquires Guitech Services

Russell Hendrix Foodservice Equipment, a portfolio company of U.S. private equity firm Blue Point Capital Partners, has acquired Guitech Services Inc, a Montréal provider of maintenance, repair, parts and services for the foodservice equipment market. No financial terms were disclosed. Russell Hendrix, a Vancouver and Brockville, Ontario provider of foodservice equipment and supplies, said the acquisition will enhance its parts and service business and provide additional growth opportunities. Russell Hendrix was formed last November in a merger supported by Blue Point.

PRESS RELEASE

Blue Point and Russell Hendrix Serve Up Another Acquisition with Guitech Services

SEATTLE, Feb. 09, 2017 (GLOBE NEWSWIRE) — Blue Point Capital Partners and its Blue Point III portfolio company, Russell Hendrix, announced today the acquisition of Guitech Services. Headquartered in Montreal, Guitech provides maintenance, repair, parts and services for the foodservice equipment market throughout Quebec.

For over 40 years, Guitech has provided its customers with maintenance and repair on commercial kitchen equipment such as dishwashers, ovens and fryers, as well as refrigerated and HVAC equipment. The Company also provides kitchen equipment replacements and parts, and services customers in a range of end markets with primary focus on the commercial, institutional and catering sectors.

“Upon merging Canada’s two largest foodservice equipment dealers, Russell Food Equipment and Hendrix Hotel & Restaurant Equipment & Supplies, into Russell Hendrix in November 2016, our coast-to-coast network is strategically positioned to add Guitech’s maintenance and repair expertise in the second largest market in Canada,” said Mark Morris, a Partner with Blue Point. “We are excited to participate in the next phase of growth at Russell Hendrix and expand on the insight and resources we offer to our customers.”

The acquisition of Guitech augments the talent of the Russell Hendrix parts and service business, and provides additional growth opportunities by leveraging Russell Hendrix’s customer network and its operational best practices. Guitech will also benefit from Russell Hendrix’s greater purchasing scale and market leadership.

“The Russell Hendrix commitment is to grow our business and maintain impeccable quality, reliability and customer service standards. The acquisition of Guitech will enhance our existing parts and services coverage and ensure our customers’ needs and expectations are exceeded,” said Larry VanderBaaren, Chief Executive Officer of Russell Hendrix.

Russell Hendrix Foodservice Equipment (www.russellhendrix.com), the combined company formed by the merger of Russell Food Equipment (Vancouver, British Columbia), which was founded in 1938, and Hendrix Hotel and Restaurant Supply (Brockville, Ontario), which was founded in 1982, operates out of seventeen sales showrooms, four distribution centers and three manufacturing facilities located across Canada. Russell Hendrix offers an assortment of equipment, supplies, parts and services to more than 20,000 foodservice operators across the country, and serves the restaurant, institutional, government, education, healthcare, hospitality and other foodservice markets. A one-stop solution provider, Russell Hendrix offers its customers comprehensive hands-on services from planning and design to outfitting of food prep areas and small wares supply to aftermarket repair and maintenance.

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the resources of an international firm. The Blue Point group has a 26-year track record of partnering with companies in the lower middle market to facilitate growth and transformative change. It is one of only a few middle market private equity firms with a presence in both the United States and China, which provides a distinct advantage for its portfolio companies. Blue Point typically invests in manufacturing, distribution and service businesses generating between $20 million and $200 million in revenue.

For more information, contact:

BLUE POINT CAPITAL PARTNERS
Mark Morris
Partner
Blue Point Capital Partners, LLC
1201 3rd Ave. Suite 3090
Seattle, WA 98101
(206) 332-9202
mmorris@bluepointcapital.com

RUSSELL HENDRIX
Mike Kane
Executive Chairman
Russell Hendrix Foodservice Equipment
1255 Venables St.
Vancouver, BC V6A 3X6
Canada
(604) 253-6611
mkane@bluepointcapital.com

Photo courtesy of Russell Hendrix Foodservice Equipment