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Hci Equity Partners-Backed Tech24 Acquires Commercial Kitchen Repairs

Feb 21, 2023•over 2 years ago

Acquiring Company

Tech24

Acquired Company

Patio Kitchen, LLC

GreenvillePaso Robles

Description

Tech24, backed by HCI Equity Partners, today announced that it acquired Commercial Kitchen Repairs, Inc. ("CKR" or the "Company") on February 16, 2023. Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment. CKR is Tech24's fifteenth add-on acquisition in the highly fragmented foodservice repair and maintenance market. Financial terms were not disclosed.

Company Information

Company

Tech24

Location

Greenville, North Carolina, United States

About

Tech 24 is the service industry leader, providing fast, complete, multi-regional repair and preventive plan solutions for commercial refrigeration, cooking, beverage and HVAC equipment. As a national service company with vast knowledge, experience and self-performed technicians, Tech 24’s training, commitment and ability to scale allows us to truly take care of our customers — creating a superior service experience that includes honest, thorough communication and expert service. Rooted in a history of success, Tech 24 is the ultimate equipment service experience. From coast to coast, our expert technicians have the tools, technology and training they need to get the job done right, and the straight-talking integrity to ensure that you get exactly what you need.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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