Tech24 acquires Arrowhead Commercial Equipment and AmeriCold

Tech24, a US-based provider of repair and maintenance services for foodservice and commercial HVAC equipment, has acquired AmeriCold and Arrowhead Commercial Equipment.

The financial terms of the deal were not revealed by Tech24, which is backed by HCI Equity Partners.

Doug McCormick — HCI Equity Partners Managing Partner said: “We are very proud of Tech24’s continued ability to partner with great companies that expand the broader organization’s service areas and customer base.

“The pace of acquisitions completed is a testament to the team we have built at Tech24, and we look forward to continue supporting them in their M&A strategy.”

AmeriCold is engaged in providing cold-side repair and installation services. It caters to customers across the New York metro area, Southeast Florida, and Washington DC.

Its customers include restaurants, institutional end markets, and grocery stores among others.

Through AmeriCold’s acquisition, Tech24 will expand its cold-side refrigeration services and grow its market share in important MSAs.

Arrowhead Commercial Equipment, which is based in Phoenix, Arizona, offers repair services, preventative maintenance, and installation for equipment related to foodservice and refrigeration.

It provides hot as well as cold-side service for customer segments such as restaurants, country clubs, grocery stores, and senior care facilities.

The acquisition of Arrowhead Commercial Equipment will grow the market share of Tech24 in the Phoenix market, while adding a team and technicians experienced in various types of equipment.

AmeriCold and Arrowhead Commercial Equipment represent the tenth and eleventh add-on acquisitions for Tech24 in the foodservice repair and maintenance market.

Dan Rodstrom — Tech24 CEO said: “We are excited to welcome both Americold and Arrowhead to the Tech24 organization. AmeriCold brings valuable scale and cold-side service exposure to the large New York market.

“Arrowhead helps us improve density and diversification in the fast-growing Phoenix market. Both companies come with a long history of strong performance, with accomplished leaders who are excited to develop future growth opportunities for their respective businesses.”