Vestar Capital Partners has joined as a new investor in Tech24, a commercial food service equipment repair and maintenance company, alongside existing shareholders HCI Equity Partners and the company’s management team.
Founded in 1982 and headquartered in Greenville, S.C., Tech24 offers repair and preventative maintenance services for commercial refrigeration, cooking, beverage and HVAC equipment. Tech24 services over 50 markets in 26 states, and its customer base includes restaurants, grocery and convenience stores, retailers, schools and universities, and corporate and government facilities. The new investment will support Tech24’s organic and acquisitive growth in new and existing geographies and end markets.
“We are excited to partner with management and HCI to leverage our sector expertise and 35 years of investing experience to enable the Company to capitalize on its numerous attractive growth opportunities,” comments Nikhil Bhat and Jake Olson, managing directors at Vestar.