equipment

KRG Capital Partners Acquires Restaurant Parts & More

by

Diversified Foodservice Supply (DFSI), a portfolio company of KRG Capital Partners, has acquired foodservice parts, supplies, equipment(RPM). DFSI is a portfolio company of KRG Capital Partners Fund IV and was acquired in November of 2010. The acquisition of RPM represents the 200th investment for KRG since inception.

According to KRG, the addition of RPM to the DFSI portfolio adds scale to the organization and improves the customer offering for chain restaurants and their associated franchisees. RPM will continue to operate as a leading brand in the combined company and joins other DFSI brands such as AllPoints Foodservice Parts and Supplies, Franklin Machine Products, Tundra Restaurant Supply, and Mill Hardware. For more info on Restaurant Parts & More here is a link to their website (www.restaurantsuppliesandmore.com).

DFSI is the parent company of multiple brands focused on the distribution of foodservice parts, supplies, equipment, and accessories. The company services many markets including restaurant equipment and supplies dealers, service agencies, restaurants, and institutions. DFSI is headquartered in Mt. Prospect, IL and manages operations in five distribution facilities and brand headquarters located across the United States. The combination of its geographic footprint, coupled with an expansive item profile of over 100,000 SKUs, enables DFSI to expedite delivery of products quickly to its valued customers. More information on DFSI is available at www.allpointsfps.com.

KRG Capital specializes in acquiring and recapitalizing unique and profitable middle-market companies. Since inception, KRG has invested in 45 platform companies and has completed 146 add-on acquisitions for those platforms. Founded in 1996, KRG has $4.3 billion of capital under management and is based in Denver (www.krgcapital.com).

2014 PEPD • Private Equity’s Leading News Magazine • 6-18-14

Cortec Group Acquires Barcodes

by

Cortec Group has acquired Barcodes, a distributor of automatic identification capture products.  The Barcodes acquisition represents Cortec Fund V’s third platform investment.  Cortec Fund V had its final closing in 2011 with $620 million in total committed capital.

Barcodes is a distributor of automatic identification capture (“AIDC”) products, selling primarily to small and medium-sized businesses and select Fortune 500 customers.  Products include barcode scanners, mobile computers, label printers, point-of-sale systems, identification cards, RFID equipment, and other related consumable products. The company was founded in 1994 and is based in Chicago (www.barcodesinc.com).

“Through its unique business model, online lead generation capabilities and value-added customer service, Barcodes is a leader in its market and continues to gain share versus the competition,” said Scott Schafler, a Managing Partner at Cortec.

Daniel Nettesheim, Barcodes’ CEO, will continue in his current position and remain a shareholder.  “We were impressed by Cortec’s approach, including their demonstrated commitment to growth. We are genuinely enthusiastic about this new partnership, both as senior managers of the company and continuing owners in the business,” said Mr. Nettesheim.

Cortec Group invests in middle-market specialty manufacturing, service, healthcare and distribution businesses with enterprise values of $40 million to $300 million. Cortec currently manages over $1 billion in its two active funds. The firm was founded in 1984 and is based in New York (www.cortecgroup.com).

“We are gratified that senior management chose to work with Cortec to realize their near and longer-term objectives,” said David Schnadig, a Managing Partner at Cortec. “We are thrilled to be partnering with a great team and excited to help facilitate and execute multiple growth initiatives.”

© 2012 PEPD • Private Equity’s Leading News Magazine • 11-7-12