HCI Equity Partners-Backed Tech24 Acquires RMS Mechanical Services

GREENVILLE, S.C., Dec. 7, 2021 /PRNewswire/ -- Tech24, backed by HCI Equity Partners, announced today it acquired RMS Mechanical Services, based in Ambridge, Pennsylvania, on December 3, 2021. Tech24 is a national provider of repair and maintenance services for food service and commercial HVAC equipment. RMS is Tech24's seventh add-on acquisition in the highly fragmented foodservice repair and maintenance market. Financial terms were not disclosed.

RMS is a provider of foodservice and commercial HVAC equipment repair, maintenance and installation, offering hot and cold-side expertise for commercial kitchens throughout the greater Pittsburgh area. RMS is a complementary acquisition to AIS Commercial Parts & Service ("AIS"), a previous add-on acquisition completed by Tech24. The combination of AIS and RMS gives Tech24 significantly increased presence and a broader customer base in the greater Pittsburgh region.

"We are excited to add RMS to the Tech24 family," said Dan Rodstrom, CEO of Tech24. "They come with a strong, established presence in the Pittsburgh area, a great reputation for customer service, and a company culture that is very similar to our existing team."

Doug McCormick, HCI's Managing Partner commented, "HCI platform companies like Tech24 are value creators that transform fragmented markets and benefit customers with new services and efficiencies. Tech24's dynamic growth shows the success of our consolidation and investment strategy, and we think RMS, a management-owned company, is a great addition to Tech24."

Quarles and Brady served as legal counsel to Tech24.

About Tech24
Tech24 provides installation, preventative maintenance and repair for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage and specialty foodservice equipment, as well as performs HVAC, electrical and plumbing services. For more information, please visit www.mytech24.com.

About HCI Equity Partners
HCI Equity Partners is a lower middle 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]

Lisa Baker, Lambert & Co.
[email protected]

SOURCE HCI Equity Partners