ADDISON, Sick.–(BUSINESS WIRE)–Components City, the know-how innovator and market- main distributor of OEM foodservice gear elements, introduced in the present day that Los Angeles-based progress funding agency Leonard Inexperienced & Companions, L.P. (“Leonard Inexperienced”) has made a major funding within the firm. Present investor Berkshire Companions (“Berkshire”) will retain its majority stake within the firm, reinvesting alongside the Components City administration staff and Leonard Inexperienced.
These investments will allow Components City to speed up innovation throughout its provide chain, distribution and ecommerce operations whereas additional investing in its staff to drive sustained excessive progress. The transaction can even help the corporate’s fast worldwide enlargement and its imaginative and prescient to increase into different mission important elements classes together with residential equipment elements, HVAC elements, and laundry elements.
“We’re thrilled that Berkshire Companions has reinvested in Components City and can proceed to accomplice with us for years to come back. We’re additionally extremely excited to welcome Leonard Inexperienced & Companions to the staff. We now have enormous progress ambitions, and the mix of Berkshire and Leonard Inexperienced positions us to quickly scale and additional differentiate,” mentioned Steve Snower, CEO of Components City. “We’re dedicated to accelerating innovation, offering a singular buyer expertise, and appearing with full integrity. We’re delighted to have companions who share each our values and our ambition.”
“Components City is an extremely particular firm. Steve and the complete staff are keen about creating best-in-class know-how to serve their suppliers and clients,” mentioned Larry Hamelsky, a Managing Director of Berkshire Companions. “We’re deeply pleased with our long- standing partnership with this staff, and we’re excited to collaborate with Components City and Leonard Inexperienced to help the following chapter of innovation and progress.”
Jonathan Seiffer, Senior Accomplice at Leonard Inexperienced, commented, “We’re delighted to be partnering with the distinctive staff at Components City. We put money into firms that win with folks, have a differentiated tradition and are market leaders with a number of methods to develop — and Components City is the proper instance. The corporate’s customer-first mission and employee-centric values completely align with what we imagine at Leonard Inexperienced. We now have admired Components City for a very long time and are excited to be partnering with Components City administration and Berkshire Companions to help the following part of the corporate’s progress.”
Components City companions with main producers to develop OEM elements market share, present revolutionary instruments to make researching and shopping for elements quick and simple, and enhance gear up-time. The corporate has grown from 5 staff members in 2004 to over 2,500 in the present day, with over $1 billion annual income, and has been named to the Inc. 5000 checklist of fastest-growing U.S. firms for 13 consecutive years.
About Components City
Components City is the main, technology-enabled international distributor of real OEM (authentic gear producer) elements for the foodservice business. Pushed by its dedication to know-how and innovation, Components City is increasing to serve new segments together with HVAC and residential equipment elements. When there’s a hiccup for any foodservice supplier or service technician firm, Components City is able to leap in and assist with essentially the most in-stock elements on the planet, revolutionary know-how, and an unmatched buyer expertise. Its custom-made options profit foodservice operators, service firms and a rising checklist of different buyer segments. Partnering with greater than 1,100 main producers, Components City improves the availability chain, will increase gross sales of real OEM elements, and retains each buyer’s enterprise working like clockwork.
Components City’s drive for innovation is led by Crimson Lightning Group, a brand new and separate division of PT Holdings focusing solely on innovation to help the foodservice business and past, accelerating the tempo of breakthroughs that help the group’s numerous buyer base. Crimson Lightning Group’s mission is to boldly strike at lightning pace to ship game-changing innovation and know-how in an effort to find the following massive factor.
For extra data, go to www.partstown.com/.
About Berkshire Companions
Berkshire Companions, a Boston-based agency, has 35 years of funding historical past. Berkshire Non-public Fairness has made greater than 135 personal fairness investments since its inception and has a robust historical past of partnering with administration groups to develop the businesses during which it invests. Stockbridge, the agency’s public fairness enterprise, was based in 2007 and seeks to make public fairness investments in high-quality firms with robust aggressive positions and long-term progress prospects. The agency has partnered with high-potential companies for a lot of many years, specializing in the know-how, providers, industrials, shopper, communications and healthcare sectors. For added data, and to see a full checklist of the agency’s personal fairness investments, please go to www.berkshirepartners.com.
About Leonard Inexperienced & Companions, L.P.
Leonard Inexperienced is a number one personal fairness funding agency based in 1989 and primarily based in Los Angeles with over $50 billion of property below administration. The agency companions with skilled administration groups and sometimes with founders to put money into market-leading firms. Since inception, Leonard Inexperienced has invested in over 100 firms within the type of conventional buyouts, going-private transactions, recapitalizations, progress fairness, and selective public fairness and debt positions. The agency primarily focuses on firms offering providers, together with shopper, healthcare, and enterprise providers, in addition to retail, distribution and industrials. For extra data, please go to www.leonardgreen.com.