PT Holdings, the owner of Parts Town and a portfolio company of Berkshire Partners and Leonard Green & Partners, has acquired Commercial Kitchen Parts & Service. Berkshire Partners acquired Parts Town in 2016 and Leonard Green made a minority investment in 2021.
Parts Town is a technology-focused global distributor of OEM parts used by foodservice operators and service companies to repair, maintain, and improve foodservice equipment. The company also provides field services to support its parts manufacturing vendors and has recently expanded into residential appliance parts distribution through the April 2022 buys of Georgia-based Encompass Supply Chain Solutions and Ohio-based Dayton Appliance Parts.
Parts Town stocks parts from more than 1,100 foodservice manufacturers and its customers include food equipment service companies, chain restaurants, institutions and independent restaurants [Source: Parts Town].In January 2022, Parts Town acquired REPA, a Munich-based distributor of spare parts for foodservice customers in Europe, from The Riverside Company. Building off its seven acquisitions in 2021, the company estimates that the company’s 2022 full-year revenues will top $1.8 billion. Parts Town’s growth strategy targets international expansion and the addition of new product categories including residential appliance parts, HVAC parts, and laundry parts.
Parts Town, led by CEO Steve Snower, stocks parts from more than 1,100 foodservice manufacturers, and the company’s customers include food equipment service companies, chain restaurants, institutions and independent restaurants. The business was founded in 1987 and is headquartered near Chicago in Addison, Illinois.
Commercial Kitchen Parts & Service, founded in 1946, is a San Antonio, Texas-based distributor and provider of field services. The company has more than 4,000 customers and stocks parts from more than 200 foodservice equipment manufacturers. President Brock Coleman, and Director of Corporate Operations David Duckworth, will continue to lead the business as a subsidiary of PT Holdings.
“We are excited to become part of this great group of companies. We have known the PT team for many years and admire what they’ve built. I also appreciate the integrity that they demonstrated throughout this process, doing everything they said they would do,” said Mr. Coleman. “We are looking forward to the next chapter of Commercial Kitchen Parts & Service and the opportunities that this combination will bring to our team, our manufacturers, and our customers.”
“Commercial Kitchen Parts & Service has a strong OEM parts distribution capability, great leadership, an exceptional brand, and high-integrity leadership. We have been incredibly impressed with Brock and his team and admired the business for years. We are thrilled to have Commercial Kitchen Parts & Service join the PT Holdings family,” said David Wenger, the group president of PT Holdings.
Boston-based Berkshire makes majority or minority equity investments of $100 million to $1 billion in companies with enterprise values from $200 million to $2 billion. Sectors of interest include consumer, business services and technology, industrials, communications, and healthcare. Berkshire focuses primarily on North American companies however it will pursue select international opportunities as well.
Los Angeles-based Leonard Green invests in service companies operating in the consumer, business, healthcare, retail, distribution, and industrial sectors. In December 2019, Leonard Green held final hard cap closings of its eighth private equity fund, Green Equity Investors VIII LP, with $12 billion of capital; and its inaugural dedicated middle-market fund, Jade Equity Investors LP, with $2.75 billion of capital.
PT Holdings, the owner of Parts Town and a portfolio company of Berkshire Partners and Leonard Green & Partners, has acquired Commercial Kitchen Parts & Service. Berkshire Partners acquired Parts Town in 2016 and Leonard Green made a minority investment in 2021.
Parts Town, led by CEO Steve Snower, stocks parts from more than 1,100 foodservice manufacturers, and the company’s customers include food equipment service companies, chain restaurants, institutions and independent restaurants. The business was founded in 1987 and is headquartered near Chicago in Addison, Illinois.
“Commercial Kitchen Parts & Service has a strong OEM parts distribution capability, great leadership, an exceptional brand, and high-integrity leadership. We have been incredibly impressed with Brock and his team and admired the business for years. We are thrilled to have Commercial Kitchen Parts & Service join the PT Holdings family,” said David Wenger, the group president of PT Holdings.
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