KRG Capital Buys Consolidated Equipment Parts

Denver-based private equity firm KRG Capital Partners has acquired Consolidated Equipment Parts and its subsidiaries, collectively known as AllPoints. The firm acquired AllPoints from Chicago-based private equity firm Pfingsten Partners. Financial terms of the deal were not released. AllPoints distributes maintenance, repair and operation parts, supplies and equipment to the foodservice industry. AllPoints is based in Mount Prospect, Illinois.

PRESS RELEASE

KRG Capital Partners (KRG), a Denver-based private equity firm, announced today that it has completed the acquisition of Consolidated Equipment Parts, Inc. and its wholly owned subsidiaries, Consolidated Commercial Controls, Inc. d/b/a AllPoints Foodservice Parts & Supplies and Tundra Specialties, Inc. (collectively “AllPoints” or the “Company”) from Pfingsten Partners, L.L.C. AllPoints is a leading distributor of maintenance, repair and operation (“MRO”) parts, supplies and equipment to the foodservice industry. AllPoints is the ninth platform company for KRG’s $1.96 billion Fund IV and represents KRG’s third platform investment in the business services and distribution market.

“We are excited to partner with the AllPoints team,” noted Ted Nark, Managing Director of KRG Capital. “We believe the AllPoints platform represents a compelling opportunity to invest in a differentiated and growing distributor of critical MRO parts, supplies and equipment to the foodservice industry. Under the exceptional guidance of its management team, AllPoints has established a leadership position in the industry. We are pleased to partner with AllPoints to support the company’s continued growth.”

“The AllPoints team is thrilled to partner with KRG to drive the next phase of the company’s growth,” said John Hanby, CEO of AllPoints. “We were impressed with KRG’s deep experience in the distribution and business services sector. We are experiencing strong demand for our product offering and the added resources and expertise that the KRG team brings to bear will help us meet this demand for existing customers and continue to expand, both organically as well as through strategic acquisitions.”

KRG believes AllPoints is well-positioned to deliver above market growth for the foreseeable future due to its value proposition of unmatched breadth of product offering, true national distribution capabilities, same-day shipping capabilities, customer service focus and industry-leading e-commerce platform. AllPoints will continue to benefit from a supply chain that is heavily dependent upon distributors to serve customers on an efficient and timely basis where product availability and service is highly valued.

KRG was represented by Hogan Lovells (legal) and Houlihan Lokey represented AllPoints in the sale process.

About AllPoints:

AllPoints, headquartered in Mount Prospect, Illinois specializes in distributing MRO parts, supplies and equipment to the foodservice industry. The Company’s products consist of replacement parts and supplies for cooking and warming equipment, refrigeration, warewashing and food preparation equipment. AllPoints has the industry’s most comprehensive product offering and distributes nationally through four strategically located distribution centers. More information on AllPoints is available at www.allpointsfps.com and www.etundra.com.

About KRG:

Founded in 1996, KRG is a Denver-based private equity firm with nearly $5 billion of capital either deployed or available for future investment which includes over $900 million deployed since inception on behalf of equity co-investors. KRG specializes in investing in customer-focused organizations that offer unique capabilities. The firm seeks investment opportunities where KRG can work in concert with owners and operating managers who are committed to expanding their companies and becoming industry leaders. The result is a partnership that focuses on creating a significantly larger enterprise through a combination of internal growth and complementary add-on acquisitions. Since inception, KRG has invested in 40 platform companies and has completed 109 add-on acquisitions for those platforms. More information on KRG is available at www.krgcapital.com.