Tech24, backed by HCI Equity, buys Commercial Kitchens

Commercial Kitchens represents the sixth add-on acquisition in HCI’s consolidation strategy in the highly fragmented foodservice repair market.

HCI Equity Partners’ Tech24 acquired Commercial Kitchens, a national provider of repair and maintenance service for food service and commercial HVAC equipment.

PRESS RELEASE

GREENVILLE, SC, November 8, 2021 — Tech24, backed by HCI Equity Partners, announced today it acquired Commercial Kitchens, Inc., based in Milford, Connecticut on November 3, 2021. Tech24 is a national provider of repair and maintenance services for food service and commercial HVAC equipment. Commercial Kitchens represents the sixth add-on acquisition in HCI’s consolidation strategy in the highly fragmented foodservice repair market. Financial terms were not disclosed.

Commercial Kitchens is a founder-owned business, providing repair and preventative maintenance services for commercial grade kitchens to healthcare, education and other institutional customers, across Connecticut, New York and northern New Jersey. The Company has full-service contracts with most of its customers. Commercial Kitchens represents an attractive addition to the Tech24 platform by adding a complementary location in the Tri-state area which provides entry to the institutional foodservice end market.

“We are very pleased to add Commercial Kitchens to the Tech24 family,” said Dan Rodstrom, CEO of Tech24.  “We look forward to working closely with Rich Pinto and the team to offer their fixed cost service model across the entire, growing Tech24 platform. This approach has provided a valuable service model to institutional customers looking for budget certainty.”

Rich Pinto, CEO of Commercial Kitchens, stated, “Our success has been built on bonding with our customers by guaranteeing superior work and deep knowledge about food service technology. We are excited about this opportunity to join with and grow the unique Commercial Kitchens model under the Tech24 national umbrella. Our existing contract partners will continue to receive the same high level of service they have come to expect.”

Doug McCormick, HCI’s Managing Partner commented, “We are pleased with the pace of our acquisitions for the Tech24 platform and the increasing set of capabilities we can provide to our customers.  Commercial Kitchens has a strong history of successfully supporting its customers and provides a specialized expertise to the entire Tech24 organization.”

Quarles and Brady served as legal counsel to Tech24.

About Tech24

Tech24 provides installation, preventative maintenance and repair for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage and specialty foodservice equipment, as well as performs HVAC, electrical and plumbing services. For more information, please visit www.mytech24.com.

About HCI Equity Partners

HCI Equity Partners is a lower middle market private equity firm focused on partnering with family and founder owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.