65 Equity Partners Acquires Minority Interest in Felix Storch, Inc.

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Dec 18, 2023, 08:00 ET

NEW YORK, Dec. 18, 2023 /PRNewswire/ -- 65 Equity Partners announced today its partnership with Felix Storch, Inc. (FSI), through the acquisition of a minority interest in FSI. FSI is the controlling company of the Summit Appliance and Accucold brands.

Founded in 1969, Summit Appliance is a leading provider of specialty refrigeration and cooking appliances for residential and commercial applications. The Accucold brand specializes in cold storage equipment for the medical, pharmaceutical, laboratory, and life science industries. Additional FSI brands include MOMCUBE for specialty breast milk storage, BeautiFridge cosmetics refrigeration, and PURETHERM medical blanket warmers. The family-owned and operated manufacturing company serves the North American market through its New York and New Jersey-based manufacturing and operating facilities.

FSI CEO Paul Storch expressed excitement at the new partnership. "65 Equity Partners has demonstrated true leadership in supporting and growing family businesses. Our team is thrilled to further expand our ability to bring true product innovation to our customers with the worldwide financing and technological resources that come with 65 Equity Partners' support."

Alexander Fraser, Partner and Head of US of 65 Equity Partners, commented, "We are very excited to be partnering with the management team at Felix Storch. As an investment firm set up specifically to make minority investments into founder and family-owned businesses, 65 Equity Partners is very pleased to have earned the opportunity to invest in an industry leader like FSI and to partner with an accomplished CEO like Paul."

Dheeraj Mehta, Managing Director of 65 Equity Partners, also commented, "FSI's unique fulfillment model, value-added customization capabilities, and globally diversified supply chains have contributed to their differentiated value proposition and market leadership within the specialty appliances industry. As a collaborative partner, we will endeavor to support Paul and the management team in driving various growth initiatives to continue their track record of delivering innovative and high-quality products to their loyal customer base over the last 50+ years."

In addition to its existing brands, FSI is scheduled to launch the EQTemp healthcare and Dreambilt luxury refrigeration brands in 2024. For more information, visit felixstorchinc.com.

About 65 Equity Partners

65 Equity Partners is a global investment firm that seeks to support founders in their growth journey, with a mandate to invest in founder-owned and entrepreneur-led businesses in Southeast Asia, Europe and the United States across the technology, business services, consumer, industrial and healthcare sectors. Backed by Temasek, 65 Equity Partners has $3.3B in funds under management.

About Felix Storch, Inc.

FSI was founded in 1969 as a manufacturer and distributor of specialty major appliances. Through its Summit Appliance division, it specializes in manufacturing residential refrigeration, cooking, and laundry products, with a strong focus in undercounter and ADA compliant appliances. Summit Commercial caters to the commercial foodservice market. For medical and hospital grade appliances, FSI serves the market through its Accucold division, with an ISO/IEC 17025:2017 accredited calibration laboratory. FSI is an ISO 9001:2015 accredited company.

For media enquiries, please contact:
65 Equity Partners
Annie Chee
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SOURCE 65 Equity Partners