HCI-backed AmerCareRoyal acquires foodservice disposables provider Team Three

• Team Three was founded by Bob Hubbard and Roy Van in 2011
• R.L. Hulett acted as financial advisor to Team Three on the deal
• HCI targets distribution, manufacturing and service companies

HCI Equity Partners-backed AmerCareRoyal has acquired St. Louis, Missouri-based Team Three Group, a provider of disposables for the foodservice and janitorial industries. No financial terms were disclosed.

AmerCareRoyal is a supplier of disposable foodservice supplies, gloves and take-out packaging.

Team Three was founded by Bob Hubbard and Roy Van in 2011.

“ACR is a great example of HCI’s investment strategy of how we aggressively grow companies organically and through M&A,” said Doug McCormick, a managing partner at HCI, in a statement. “With the acquisition of Team Three, ACR’s sales revenue now exceeds the billion-dollar mark, and positions them as a leader in their market while also enabling expanded services, greater efficiencies, and a better value proposition for customers. We’re proud of Scott and the ACR team for achieving this impressive milestone.”

Greenberg Traurig served as legal counsel to ACR. R.L. Hulett acted as financial advisor to Team Three and Lewis Rice served as legal counsel.

Based in Washington, D.C., HCI Equity Partners invests in the lower middle market. The private equity firm targets distribution, manufacturing and service companies.