- AmeriCold is a provider of cold-side repair and installation services to customers in the New York metro area, Washington DC, and Southeast Florida
- Based in Phoenix, Arrowhead is a provider of repair services, preventative maintenance, and installation for foodservice and refrigeration equipment
- HCI Equity Partners invests in lower market distribution, manufacturing and service companies
Tech24, backed by HCI Equity Partners, has acquired AmeriCold and Arrowhead Commercial Equipment. No financial terms were disclosed.
AmeriCold is a provider of cold-side repair and installation services to customers in the New York metro area, Washington DC, and Southeast Florida. B
Arrowhead provides both hot and cold-side service for customer segments including restaurants, grocery stores, country clubs and senior care facilities in the Phoenix market.
Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment.
Arrowhead and AmeriCold represent Tech24’s tenth and eleventh add-on acquisitions in the highly fragmented foodservice repair and maintenance market.
“We are very proud of Tech24’s continued ability to partner with great companies that expand the broader organization’s service areas and customer base,” said Doug McCormick, a managing partner at HCI, in a statement. “The pace of acquisitions completed is a testament to the team we have built at Tech24, and we look forward to continue supporting them in their M&A strategy.”
Quarles and Brady served as legal counsel to Tech24.
HCI Equity Partners invests in lower market distribution, manufacturing and service companies. HCI is headquartered in Washington, DC.