ECP, an energy and infrastructure investor, has acquired Restaurant Technologies from the infrastructure investing business of Goldman Sachs Asset Management, in partnership with current RT investor Continental Grain Company. Additionally, as part of the deal, Enlightened Hospitality Investments, the strategic investment manager of Union Square Hospitality Group, has invested in the firm.
Restaurant Technologies is a provider of cooking-oil management and back-of-house hood and exhaust cleaning services. The firm delivers its services to quick-service and full-service restaurant chains, grocery delis, hotels, universities, and hospitals.
“ECP has been investing in critical sustainability, renewable energy and environmental infrastructure-focused businesses for almost two decades,” said Tyler Reeder, managing partner, ECP. “We have been extremely impressed by Restaurant Technologies’ market leadership in providing kitchen automation solutions to its customers, anchored by its proprietary closed-loop oil management system and extensive network of depots across the United States.”
“With more than 20 years of helping restaurants work smarter and safer, Restaurant Technologies has built a foundation to support better, more sustainable business practices in the restaurant and food industry,” said Jeff Kiesel, RT president and CEO. “We look forward to leveraging ECP’s differentiated sustainability and ESG expertise, connections and leadership guidance as we look to our next stage of growth, bringing our solutions to more businesses across the nation.”
Harris Williams and Goldman Sachs & Co. LLC served as financial advisors and Weil, Gotshal & Manges served as legal counsel to the Company. Latham & Watkins LLP served as legal advisor to ECP and BMO Capital Markets served as financial advisor to ECP.