HCI-backed Tech24 completes twelfth add-on with Allied Service Group

Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment.

  • Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment
  • The deal provides Tech24 with an additional entry point into the Southeastern US
  • Allied is a provider of repair services, preventative maintenance and installation for foodservice and HVAC equipment

HCI Equity Partners-backed Tech24 announced on Tuesday that it has acquired Allied Service Group. Allied, provider of repair services, preventative maintenance and installation for foodservice and HVAC equipment, is Tech24’s twelfth add-on acquisition in the foodservice repair and maintenance market.

PE Hub has covered a number of Tech24’s acquisitions in the space including its purchases of AmeriCold and Arrowhead, alongside its acquisition of commercial kitchen and HVAC repair firm TEMCO.

Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment. The deal for Allied provides Tech24 with an additional entry point into the Southeastern US as Allied’s headquarters in Jackson, Tennessee.

“The Tech24 platform is a great example of how HCI’s investment strategy works to benefit new and existing customers with expanded services and greater efficiencies, through strategic acquisitions in fragmented markets,” said Doug McCormick, managing partner at HCI. “Tech24 and HCI are experiencing strong success partnering with high quality family- and founder-owned businesses across the US, and we are proud of the teams and business we are building.”

HCI Equity Partners is a lower market private equity firm focused on partnering with family and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC.