Smart Care Equipment Solutions, a portfolio company of Audax Private Equity, has acquired Lima, Ohio-based Advanced Mechanical Plus, a provider of kitchen equipment service. No financial terms were disclosed.
PRESS RELEASE
Audax Private Equity portfolio company, Smart Care Equipment Solutions, acquires Advanced Mechanical Plus
The Company
Advanced Mechanical Plus (“AMP”) is a leading provider of kitchen equipment service in the Midwest. Based in Lima, OH, AMP specializes in hot-side kitchen equipment, refrigeration, and HVAC repair and planned maintenance for commercial and restaurant end markets.
The Deal
Smart Care Equipment Solutions (“Smart Care”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of Advanced Mechanical Plus, representing the company’s fifth acquisition since Audax’ investment.
The Thesis
In November 2017, Audax partnered with Smart Care Equipment Solutions, a leading provider of comprehensive commercial kitchen repair and maintenance services to the U.S. commercial food service industry. The company services 40,000+ locations in all 50 states across restaurant, healthcare, education, hospitality, government, and commercial end markets. With over 600 technicians, Smart Care is the largest independent kitchen equipment service organization not affiliated with an OEM manufacturer.
Audax is working with Smart Care management to continue expanding its leading platform through organic growth initiatives and add-on acquisitions within the fragmented U.S. kitchen repair and maintenance market. AMP expands Smart Care’s Midwestern footprint with a blue-chip customer base and strong leadership team.
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