Jordan Co. Completes Heritage Food Service Deal

The Jordan Co. has completed its acquisition of Heritage Food Service Equipment Inc., a distributor of replacement parts for commercial kitchen equipment manufacturers. Terms of the deal were not released. Heritage is based in Fort Wayne, Indiana.

PRESS RELEASE
Heritage Food Service Equipment Inc. (“Heritage”), the largest independent distributor of replacement parts for commercial kitchen equipment manufacturers in North America, announced that affiliates of The Jordan Company, L.P. (“TJC”) have completed their purchase of Heritage.

Heritage, headquartered in Fort Wayne, Indiana, was founded in 1987 by current CEO Bruce Dye. Today, the company employs the largest team of in-house parts specialists in the industry. Heritage carries in excess of 34,000 stocking SKU’s for over 600 OEM manufacturers of commercial foodservice equipment. The Company maintains a very diverse customer base consisting of 35,000 end-users and service agents including but not limited to restaurant chains, hospitals, hotels, convention centers and casinos.

As a result of this transaction, Heritage will have an enhanced capital base, but continue to be owned by Bruce Dye, Heritage President and CEO. “We are excited about our partnership with TJC. Heritage will have greater access to capital which will allow us to replicate the company’s historic track record of growth moving forward,” said Mr. Dye, “ We do not anticipate any significant changes in our facilities and locations, service offerings or employment.”

“The Jordan Company is thrilled to partner with Bruce Dye and the management team of Heritage”, said Michael R. Denvir, Principal at The Jordan Company. He added, “Heritage has an impressive track record due to its dedication to customer service and on-time delivery of critical-need replacement parts.”

Winston & Strawn LLP advised The Jordan Company on the investment.

About Heritage Foodservice Equipment
Heritage, headquartered in Fort Wayne, Indiana, was founded in 1987 by current CEO Bruce Dye. The Company has built an industry leading position in repair parts distribution by distinguishing itself as the best “one-stop shop” for its customers, and by building enduring relationships with both its customers and vendors. Heritage carries replacement parts in excess of 34,000 stocking SKU’s for over 600 OEM manufacturers of commercial foodservice equipment. In addition, the Company maintains a very diverse customer base consisting of 35,000 end-users and service agents including but not limited to restaurant chains, hospitals, hotels, convention centers, and casinos. For additional information, visit www.hfse.com

About The Jordan Company
The Jordan Company (www.thejordancompany.com), founded in 1982, is a leading middle-market private equity firm with over $5 billion of assets under management and a successful track record of investing in and growing businesses across a wide range of industries. The firm’s partners have been investing together for more than two decades, establishing TJC as one of the most experienced and stable investment teams in private equity. The investment team is supported by the firm’s Operations Management Group, which initiates and supports operational improvements in portfolio companies. The firm generates deal flow through a well-developed network of sourcing relationships. Headquartered in New York, TJC also has offices in Chicago and Shanghai.