HCI Equity Partners-Backed Tech24 Acquires TEMCO, Inc.

News provided by

Jul 25, 2022, 07:00 ET

Tech24 Completes Ninth Add-on Acquisition

GREENVILLE, S.C., July 25, 2022 /PRNewswire/ -- Tech24, backed by HCI Equity Partners, today announced that it acquired TEMCO, Inc. ("TEMCO" or the "Company") on July 20, 2022. Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment. TEMCO is Tech24's ninth add-on acquisition in the highly fragmented foodservice repair and maintenance market. Financial terms were not disclosed.

Based in Jackson, Mississippi, TEMCO is a provider of repair and maintenance services for commercial kitchen and HVAC equipment, with a large focus on hot and cold side equipment services to customers in Jackson and the Gulf Coast area. The acquisition provides Tech24 with geographic expansion to the Southeast, new talent and expanded exposure to attractive customers.

"We are thrilled to welcome TEMCO to the Tech24 organization," said Dan Rodstrom, CEO of Tech24. "The combination of our companies allows us to enter the rapidly growing Southeastern market and extend our well-known services to a broader set of customers. We look forward to working with Duane Griffin, Mike Reed and the entire TEMCO organization."

"TEMCO is a great example of HCI's focus on founder-owned companies looking for a partner to provide assistance in the next stage of growth," said Doug McCormick, Managing Partner at HCI. "The company is a great addition to the Tech24 platform and we look forward to offering new customers in the Southeast region the fast and reliable service that Tech24 provides"

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