HCI Equity Partners’ Backed Tech24 Acquires United Service Technologies Tech24, backed by HCI Equity Partners, announced today it acquired United Service Technologies (“United”) on April 13, 2021. Tech24 is a national provider of installation, preventative maintenance and emergency repair services for foodservice and HVAC equipment and serves convenience stores, restaurants, coffee shops and concession operations, among other foodservice establishments. United is the fourth add-on acquisition in HCI’s consolidation strategy in this market. Financial terms were not disclosed. Headquartered outside of Anaheim, California, with additional locations in Texas and Nevada, United is a provider of repair and maintenance services for commercial food equipment, primarily serving the grocery market. The Company has been providing installation, planned maintenance and repairs to hot-side equipment in supermarkets for over 25…
HCI Equity Partners’ Backed Tech24 Acquires Alliance Mechanical Services, Inc. Tech24, backed by HCI Equity Partners, announced it acquired Alliance Mechanical Services, Inc. (“Alliance”) on March 1, 2021. Tech24 is a national provider of installation, preventative maintenance and emergency repair services for foodservice and HVAC equipment and serves convenience stores, restaurants, coffee shops and concession operations, among other foodservice establishments. Alliance is the third add-on acquisition in HCI’s consolidation strategy in this market. Financial terms were not disclosed. Alliance Mechanical Services, based in Chicago, Illinois, is a provider of service, installation and maintenance for commercial HVAC and foodservice equipment. The Company specializes in providing services for walk-in coolers and freezers, process chillers and cold rooms. The Company increases Tech24’s market share in Chicago, introduces new…
Headquartered in Decatur, IL, ESI is a leading provider of repair and maintenance services with a strong presence in locations throughout Central Illinois. Tech24 aims to capitalize on Eichenauer’s strong brand presence in Illinois to further expand into surrounding areas. “It became obvious during our initial discussions with HCI Equity and Tech24 that our cultures and commitment to satisfying customers were very similar. We are grateful for the many opportunities made available to our company and our employees by becoming part of the Tech24 national service network” stated Lee Eichenauer.
Headquartered in Pittsburgh, PA, AIS is a leading provider of repair and maintenance services to the food equipment market with additional locations in Cleveland, Youngstown, and Erie. Tech24 has partnered with Matt and Alecia Evans to execute on AIS’ next phase of growth and expansion. “Our team at AIS is excited about the opportunities that the future will bring forward for everyone involved. The expansion of our territories as well as the strategic approach that is being applied within this group will offer endless possibilities and stronger relationships with all our current team members, future team members, customers and OEM partners” said Matt Evans.
Press Release: Prior to joining the Tech24 team, Dan worked at EMCOR in various leadership positions over 15 years. Dan has been president of EMCOR’s Commercial Site-Based Service division and was most recently SVP of Operations of EMCOR Building Services segment. Prior to his time at EMCOR, Dan worked at United Technologies. “I am excited to leverage my years of experience in the commercial service industry to help grow the Tech24 platform. We are committed to building a winning culture and team that provides the highest quality service to every customer, every time” said Dan Rodstrom.
Press Release: “My role will shift to be focused on identifying and acquiring additional service companies to continue our ambition of being the leader in our industry. Mergers and acquisitions are something I love doing and I have spent most of my career involved in such transactions. I look forward to working with HCI to achieve our growth goals through acquiring high quality service companies. I will also continue serve on the board of Tech 24.” – Kurt Herwald
Press Release: Prior to joining the Tech24 team in the newly created CFO role, Sam worked at Integrated Power Services, a provider of electric motor repair and maintenance services to the continuous process industries. Sam was most recently SVP mergers and acquisitions, which succeeded his previous roles as VP of finance and corporate controller. Sam will play an instrumental role in instilling a data-centric culture throughout the organization and will assist in the execution and integration of many future acquisitions.
Press Release: Bob is a dedicated executive partner to the Tech24 team to assist through Tech24’s growth plan. Prior to joining HCI/Tech 24, Bob was EVP of the Americas for Welbilt, one of the largest producers of foodservice equipment, and prior to that was with Cornelius, a leading beverage equipment manufacturer.