HCI Equity Partners-Backed Tech24 Acquires Commercial Kitchen Repairs

Tech24 Completes Fifteenth Add-on Acquisition

GREENVILLE, S.C., Feb. 21, 2023 /PRNewswire/ -- 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.

Based in Quakertown, Pennsylvania, CKR is a provider of repair services, preventative maintenance and installation for commercial cooking equipment in restaurants, schools, hospitals and grocery stores in the greater Philadelphia and Lehigh Valley area as well as Southwest New Jersey. This acquisition grows Tech24's technician workforce and customer base in a key northeastern market.

Tech24's CEO Dan Rodstrom, said, "We are very pleased to add CKR to the rapidly growing Tech24 family. The Company brings valuable scale and hot-side service exposure to the important Philadelphia market. We look forward to working alongside Dwight Boris and the entire CKR team as part of Tech24."

Dwight Boris, President of CKR, added, "I am excited that our Company has joined Tech24 and look forward to expanding how we deliver quality service to our customers and the resources that Tech24 brings to our team."

"HCI is excited to announce Tech24's first acquisition of 2023 and fifteenth overall," said Doug McCormick, Managing Partner at HCI. "CKR helps make Tech24 a stronger competitor to service Pennsylvania's retailers and in return Tech24 will help CKR expand and thrive in today's markets."

Quarles and Brady served as legal counsel to Tech24.

About HCI Equity Partners
HCI Equity Partners is a lower market private equity firm focused on partnering with family and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.

Contacts:
Kelsey Clute, VP, Director of Communications, HCI
[email protected]

Megan Bowman, Lambert
[email protected]

SOURCE HCI Equity Partners