Component Hardware Group, a portfolio company of Windjammer Capital Investors, has acquired Specialty Food Service Hardware Inc and sister company Vision Parts & Accessories Inc. No financial terms were disclosed. Based in Canada, Specialty and Vision are providers of components and parts to the commercial food service and wholesale plumbing markets.
Windjammer Capital Investors (“Windjammer”) is pleased to announce that its portfolio company Component Hardware Group (“CHG”) has acquired Specialty Food Service Hardware Inc. (“Specialty”) of Markham, Ontario and its sister company, Vision Parts & Accessories Inc. (“Vision”). Specialty and Vision are leading suppliers of components and parts to the commercial foodservice and wholesale plumbing markets throughout Canada. Terms of the transaction were not disclosed.
In conjunction with the acquisition, Harold Clarke, President of Specialty and Vision, announced his retirement stating “the sale of Specialty Food Service Hardware and Vision Parts to Component Hardware Group has provided a truly win-win situation for the customers we have dedicated ourselves to serving over the years as well as all our employees.”
Harry Franze, President & CEO of CHG, commented that “it was apparent from the start of our discussions that the business Harold and his team built would provide a great growth platform for Component Hardware Group in one of our key markets. After 25 successful years, we look forward to Harold helping us transition the business over the next few months.” The companies will continue to service all current customers with the quality parts and components they have come to expect while providing expanded coverage for CHG’s full array of products to the Canadian market.
“The acquisition of Specialty Food Service Hardware and Vision Parts & Accessories further strengthens our leadership position in the foodservice hardware and commercial plumbing markets,” said Ed Whartnaby, CHG’s EVP of Sales & Marketing. “We will be able to provide our Canadian customers with a broader array of products with the same high quality and local customer service support that they have come to expect.”
Greg Bondick, Managing Director at Windjammer, highlighted the importance of both organic and inorganic growth as drivers of value creation at CHG. “The acquisition of Specialty and Vision is an important step in advancing our strategic growth goals for the business by expanding our footprint in Canada. CHG is a unique platform with a compelling value proposition and we continue to seek add-on acquisitions in North America and Europe that will allow us to accelerate growth by expanding our customer base, product offering and geographic coverage.”
ABOUT WINDJAMMER CAPITAL INVESTORS
Windjammer Capital Investors, with offices in Newport Beach, California and Waltham, Massachusetts, is a private investment firm that makes control and non-control investments in leading middle market businesses in partnership with management. Founded in 1990, Windjammer’s institutional funds total roughly $2.0 billion of committed capital. Since its formation, Windjammer has invested nearly $1.4 billion in over 50 companies across a broad range of industries. Windjammer is currently investing out of its $726 million Windjammer Senior Equity Fund IV which closed in 2013. More information on Windjammer can be found at www.windjammercapital.com.