Logo for Don Edwards.

Vestar Capital Partners Completes Sale of Edward Don & Company to Sysco

NEW YORKDec. 4, 2023 /PRNewswire/ -- Vestar Capital Partners ("Vestar"), a leading U.S. middle-market private equity firm, announced that it has completed the sale of Edward Don & Co. ("DON" or "the Company"), a leading distributor of foodservice equipment and supplies, to Sysco Corporation. Terms of the transaction were not disclosed.

"It's been a privilege to support Steve Don and DON management to help them achieve their growth objectives," said Rob Rosner, Founding Partner at Vestar. "When we originally invested in the business, we believed we were backing one of the strongest management teams and one of the highest-quality platforms in the foodservice equipment & supplies distribution space. That thesis has proven out many times over the years, and this successful outcome is yet another proof point."

"We're incredibly proud of what DON was able to accomplish during our partnership," added Nikhil Bhat, Co-Head of Investments at Vestar. "The Company continued its long track record of successful organic growth and established itself as a premier platform in its industry, all while navigating a disruptive global pandemic. We're grateful to the DON team for their leadership and hard work over our nearly 7-year partnership together in delivering this terrific outcome."

Over the course of Vestar's investment, DON expanded its footprint, secured significant new customers, and meaningfully grew revenue and earnings. DON will operate as a standalone specialty division within Sysco, and DON CEO and President Steve Don will continue to manage the business alongside DON's leadership team.

"Vestar was a great partner to DON during a period of both unprecedented growth, but also unprecedented pandemic-related challenges, for our Company," said Mr. Don. "We appreciate Vestar's support of our customer-focused, service-oriented, integrated growth strategy over the past years, and look forward to continuing to deliver for all DON stakeholders in our exciting next chapter with Sysco."

J.P. Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar. Kirkland & Ellis LLP served as legal advisor to Edward Don & Company and Vestar.

Nox Health logo

Nox Health Appoints Emily Buxton Taylor as Chief Financial & Operating Officer

ALPHARETTA, Ga. (November 14, 2023) – Nox Health, a global sleep health leader in sleep diagnostics and value-based sleep care management, today announced that it has named Emily Buxton Taylor as Chief Financial & Operating Officer.

In this role, Emily will assume direct responsibility for finance across Nox Health and additionally support operations that bridge Nox Health business units. With deep operational and financial expertise, Emily has more than 20 years of experience in healthcare and technology in both the public and private sectors.

“With a unique combination of financial acumen and solid operational expertise, Emily will drive performance across the company and help systematically execute and drive success of our strategies company-wide,” said Sigurjon (SK) Kristjansson, CEO of Nox Health. “Emily is a welcome addition to the Nox team as we scale and grow our company to support our range of clients, from health plan sponsors to global sleep healthcare providers.”

“I am delighted to join Nox Health and have been impressed with the team’s passion forsleep,” said Emily Buxton Taylor, Chief Financial and Operating Officer, Nox Health. “Given thestrong connection between sleep and chronic disease, I look forward to working to advanceone of Nox Health’s primary goals – to make sleep a foundational component of every benefitplan so that members and employees can improve their health.”
Arnar Thorkelsson, previous CFO of Nox Health, will now focus on supporting Nox Medical,the company’s medical technology division.

Kristjansson continued: “Arnar has been an incredible partner in developing the company to this stage, and we have grown to a point where each business unit requires a full-time executive to support our business. With Emily as our global leader, located in the US, and Arnar present in Iceland, we have a dynamic, experienced team that will help take Nox to the next level.”

Emily most recently served as Chief Operating Officer and Chief Financial Officer of Wondr Health, a company that offers complete weight and stress management programs. Previously, Emily held numerous financial positions, including Chief Financial Officer at Paradigm Tax and National HME, Chief Accounting Officer at Northstar Anesthesia, and Chief Financial Officer at Orthofix Medical, Inc. She is a certified public accountant and an active member of Financial Executives International (FEI).

Logo for Don Edwards.

Edward Don & Company Announces Sale to Sysco

WOODRIDGE, IL – October 11, 2023 – Edward Don & Company (“DON”), a leading distributor of foodservice equipment and supplies since 1921, announced today that it has entered into an agreement to be acquired by Sysco Corporation. This partnership will allow DON to enhance its product offerings, expand strategic capabilities and provide even greater value to our customers while creating new and exciting
opportunities for our associates.

Upon completion of the transaction, DON will operate as a standalone specialty division within Sysco. Steve Don will continue to manage the business along with DON’s leadership team. All DON’s current employees will continue business as usual across North America, providing customers with the great level of service and products that they have come to expect from DON.

“Since 1921, DON has put customers first, delivering everything but the food,” said Steve Don, CEO & President. “In Sysco, we found a partner who not only understands our business but also has a deep appreciation for the customers, employees, and culture that have made us who we are today. Customers can expect the same high level of foodservice expertise, customer service, innovation and a deeper product selection from DON as we move forward as a specialty division within Sysco.” The acquisition is subject to regulatory approval and other customary closing conditions. J.P. Morgan Securities LLC and William Blair served as joint lead financial advisors to Edward Don & Company and Vestar Capital Partners.

About Edward Don & Company
Owned and operated by the Don family since 1921 and partnered with Vestar Capital Partners since 2017, Edward Don & Company is a leading distributor of foodservice equipment and supplies. Headquartered in Woodridge, IL, the company is the chosen supplier to all types of foodservice businesses including independent restaurants, national chains, health care, hospitality, country clubs, schools and universities, government institutions and foodservice management. DON, with approximately 1,200 employees, operates a nationwide distribution network supported by seven full-service distribution centers – in Chicago, Philadelphia, Atlanta, Miami, Dallas, Los Angeles and Seattle – and operates its own transportation fleet. DON serves national and multi-unit account programs with flexible, customized solutions that meet the needs of both the corporate office and the individual units. DON’s Foodservice Equipment Division offers full-service kitchen design, equipment purchasing and installation. For more information, please visit www.don.com.

Tech24 Partners with Big Fish

GREENVILLE, SC, October 5, 2023—Tech24, a national industry leader in commercial foodservice equipment repair and maintenance, has partnered with Big Fish, a provider of  commercial HVAC, refrigeration and kitchen equipment installation and repair service throughout Texas.

Based in Buda, Texas, Big Fish specializes in the installation, repair, maintenance and replacement of HVAC, refrigeration, and hot side kitchen equipment for restaurants, hotels, hospitals, and other commercial facilities located across Austin, San Antonio, Houston, and the surrounding areas of Texas.

“Texas is among the largest markets for our services and is a strategic priority for Tech24. Big Fish has grown significantly in recent years and their culture and values are strongly aligned with those of Tech24. We are excited to welcome Daryl Mika and his team to the Tech24 family,” said Tech24’s CEO, Dan Rodstrom. Daryl Mika, President of Big Fish added, “Partnering with Tech24 will provide Big Fish even greater access to the resources we need to continue delivering high quality service to all our customers. We look forward to working with Tech24’s other Texas-based companies to offer the best technical training in the industry.”

Tech24 Announces Joint Investment from Vestar Capital Partners and HCI Equity Partners

GREENVILLE, S.C.Oct. 5, 2023 /PRNewswire/ -- Tech24 (or "the Company"), a national leader in commercial foodservice equipment repair and maintenance, announced today that Vestar Capital Partners ("Vestar") has joined as a new investor alongside existing shareholders HCI Equity Partners ("HCI") and the Company's management team.

The new investment will support Tech24's continued organic and acquisitive growth in new and existing geographies and end markets. Founded in 1982 and headquartered in Greenville, SC, Tech24 provides comprehensive repair and preventive maintenance solutions for commercial refrigeration, cooking, beverage, and HVAC equipment. Tech24 currently services over 50 major markets in 26 states, and its diverse customer base includes restaurants, grocery and convenience stores, retailers, schools and universities, and corporate and government facilities. The Company has completed 19 acquisitions since 2020.

"Vestar's deep experience in both commercial facilities services and the foodservice end market, as well as its track record in partnership-oriented sponsor recapitalizations, positions the firm as a perfect partner for Tech24 as we look to find new ways to accelerate growth," said Dan Rodstrom, CEO of Tech24. "We are pleased to welcome Vestar and are eager to work alongside their team and our existing investor HCI as we focus on our active acquisition pipeline."

"Tech24 has an impressive national footprint and a proven track record of delivering high-quality, mission-critical services to its customers," said Nikhil Bhat and Jake Olson, Managing Directors at Vestar. "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."

"We are proud of the transformational growth and the foundation the Tech24 team has built over the last three years," said Doug McCormick, Managing Partner at HCI Equity Partners. "We believe Tech24 has differentiated itself both as a service provider and an acquirer in the highly fragmented commercial food equipment repair market and we are excited for the next phase of growth with the Vestar team."

Solomon Partners served as financial advisor and Quarles & Brady LLP served as the legal advisor to Tech24 and HCI. TD Cowen acted as financial advisor, and Kirkland & Ellis LLP acted as legal advisor to Vestar.

About Tech24
Tech24 is the industry leader in commercial foodservice equipment repair and maintenance, providing quick and comprehensive repair and preventive maintenance solutions for commercial refrigeration, cooking, beverage, and HVAC equipment. Founded in 1982 in Greenville, SC, Tech24 currently services over 50 major markets in 26 states from coast to coast and employs over 850 highly qualified service technicians that are equipped with the tools, technology and training they need to get the job done right. To learn more about Tech24, visit https://www.mytech24.com/.

About HCI
HCI Equity Partners is a lower market private equity firm focused on partnering with family and founder-owned distribution, manufacturing and service companies. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.

Vestar tri-color logomark.

Vestar Named to Mergers and Acquisitions 2023 Best Places to Work in Private Equity Awards as an Honorable Mention

Mergers & Acquisitions is recognizing eight firms for the inaugural Best Places to Work in Private Equity. The latest in our award series honors private equity firms who stand out amongst their peers in demonstrating leadership and innovation in their workplace cultures, policies and internal operations. They have also taken proactive measures to adapt to the changing demands of a post-pandemic world, as well as building environmental, social, and governance (ESG) and diversity, equity and inclusion (DEI) programs at their firms and portfolio companies.

Our awards program continues to evolve with the industry. Given that ESG is now more commonplace in private equity, and the growing prevalence of DEI, we decided to incorporate some of the criteria from our PE Innovators in ESG and M&A Leaders in DEI awards into the newly-minted Best Places to Work in PE. Consequently, we retired the standalone ESG and DEI awards.

To determine the winners, nominees were asked to detail how they stand out from competitors when it comes to retaining top talent, work-life balance, training, compensation, benefits, career mobility and leadership assessment. Nominees were also asked to describe how they implement and continue to grow ESG and DEI policies and programs.

The firms we are honoring include relatively new and longstanding PE shops. They were founded anywhere from five to more than 50 years ago. The combination of the traits that make them a great place to work range from an emphasis on professional development to lifestyle benefits, such as new parents being granted generous parental leave. All share an ongoing commitment to ESG and DEI.





Circana Appoints Anne Bramman as Chief Financial and Growth Officer

CHICAGO – June 6, 2023  Circana, the world’s leading advisor on the complexity of consumer behavior, today announced the appointment of Anne Bramman as chief financial and growth officer, effective June 20. As a member of Circana’s executive leadership team, Bramman will lead both the finance and strategy teams, identifying new ways for the company to continue achieving sustainable growth.

“Anne is a seasoned executive with a strong track record of success leading the finance strategy for global, consumer brand organizations,” said Kirk Perry, CEO of Circana. “Her perspective and leadership will be incredibly valuable as we continue to unlock the full potential of Circana for all of our stakeholders. We are thrilled to welcome Anne to our team, and I look forward to working closely with her to execute our bold vision for growth and value creation.”

“I am proud to be joining Circana at such an exciting time for the company,” said Anne Bramman. “Circana has built a strong foundation for growth – with unique capabilities, vast data assets, industry-leading technology, and best-in-class talent – backed by renowned investors. I look forward to partnering with Kirk and the Circana Board and leadership team to continue Circana’s momentum.”

Perry added, “On behalf of the Circana Board and leadership team, I want to thank Holly Knightly, who has served as Circana’s interim CFO since November 2022, for her tremendous work as interim CFO. We are grateful that Circana will continue to benefit from Holly’s expertise as a senior leader within our finance organization moving forward.”

About Anne Bramman

Bramman is a seasoned executive with more than 30 years of experience in senior financial roles at consumer branded companies. She joins Circana from Boston Consulting Group (BCG), where she worked as a senior advisor. Prior to that, Bramman served as CFO of Nordstrom, Inc. from 2017 to 2022, where she led financial strategy and operations, private label credit card operations, business development, and strategic sourcing, delivering significant profit opportunities for the company. Before Nordstrom, Bramman served as CFO of Avery Dennison Corporation and Carnival Cruise Line after serving in senior financial roles at L Brands Inc. She currently serves on the Board of Directors of McCormick & Company and is a member of its Audit committee.

Bramman has earned numerous notable awards for her achievements throughout her career, including being named a member of Fortune’s Most Powerful Women and named the 2019 CFO of the Year by the Puget Sound Business Journal. She received a BBA in accounting from Texas Christian University and an MBA from University of California, Los Angeles.

Nox Health Acquires Somryst, the Only FDA-Cleared Digital Insomnia Treatment

ALPHARETTA, Ga. , May 25, 2023 (GLOBE NEWSWIRE) --  Nox Health, a global sleep health leader, has acquired Somryst, the first FDA-cleared Prescription Digital Therapeutic (PDT) that delivers effective, first-line treatment for adults with chronic insomnia. This acquisition deepens the Nox value-based healthcare programs, as it seeks to reframe sleep as a critical and powerful intervention strategy for chronic health conditions management.

“The acquisition of Somryst aligns seamlessly with Nox's mission of promoting science-based solutions that address chronic diseases through sleep care management. As an outcomes-driven company with ten years of real-world data, it was important for us to find a solution with equal depth in validation and outcomes data, thereby setting it apart from other CBT-I solutions,” said Sigurjon Kristjansson, CEO of Nox Health.

Insomnia is a highly prevalent complaint associated with significant adverse health outcomes. CBT-I is recognized as the treatment of choice, but it remains underutilized due to lack of therapists with adequate CBT-I expertise. By delivering CBT-I via a mobile application, Somryst offers health care providers a novel treatment delivery modality to enhance the treatment of chronic insomnia for patients who lack access to clinician-delivered CBT-I.

Use of Somryst durably improves insomnia symptoms in adults with chronic insomnia who do not have contraindicated sleep, medical, and/or psychiatric disorders. Pivotal study results show that over 40% of Somryst-treated patients no longer met criteria for chronic insomnia post- treatment, and over 60% demonstrated a clinically meaningful insomnia treatment response with no adverse events reported.

With outcomes that speak for themselves, Somryst represents a promising clinical modality for the treatment of adults with chronic insomnia who are receiving standard outpatient care.

Nox aims to bring Somryst to a wider audience, starting with its existing Enterprise client base and expanding to other opportunities throughout their business. This marks a major milestone in the Nox growth journey and will further scale their future success.

360training Acquires ACLS Medical Training & Safety Provisions - Extending Healthcare & EHS Offerings

AUSTIN, TexasMay 19, 2023 /PRNewswire/ -- 360training, a leading online regulated training provider, has acquired ACLS Medical Training and Safety Provisions (owners of the brand Hard Hat Training), two well-respected providers of medical training and workplace safety, respectively. Through these acquisitions, 360training will accelerate it's goal of helping to provide  safer, more productive work environments that protect employees and customers, benefiting everyone.

By integrating the content and expertise of ACLS Medical Training and Safety Provisions into its existing platform, 360training will provide learners with an even more comprehensive range of courses and certifications across multiple industries. Tom Anderson, CEO of 360training, explains what drew him to these companies:

"We are excited to welcome ACLS Medical Training and Safety Provisions to the 360training family. Their expertise in workplace safety and medical training complements our existing offerings and strengthens our position as a leading provider of online training solutions."

The acquisitions are part of 360training's strategic growth plan to expand its course offerings and reach more learners across different industries. "Our mission at 360training is to help improve, inform, and maintain the condition, health, and safety of all workers, and our passion is universal. The acquisition with ACLS and Safety Provisions will aid us in reaching more workers than ever before," adds Samantha Montalbano, COO Health and Safety Advocate of 360training.

With a more extensive course catalog and a wider range of certifications, the company is well positioned to help learners across multiple industries achieve their professional goals and meet regulatory requirements. 360training is supported in it's growth initiatives through the strategic equity partnership with GreyLion Partners LP and Vestar Capital Partners.

Why Choose Safety Provisions?

360training acquired Safety Provisions mainly because the same goals fundamentally drive the two companies. They share the mission of reducing workplace accidents and fatalities by providing easily accessible, high-quality online safety training solutions.

In addition, all Safety Provisions courses are:

  • OSHA Compliant
  • User Friendly
  • 100% Online
  • Affordably Priced

Why Choose ACLS Medical Training?

ACLS Medical Training's online courses are crafted with the same care and attention to detail that 360training demands for all its courses. By acquiring ACLS Medical Training, 360training adds to its library of healthcare courses, with the additions of the following courses for medical professionals:

  • Advanced Cardiovascular Life Support
  • Basic Life Support
  • Pediatric Advanced Life Support
  • Neonatal Resuscitation Program

About Safety Provisions

Safety Provisions, Inc. is dedicated to improving workplace safety through comprehensive training and promoting an engaging safety culture. The company is best known for establishing the brand Hard Hat Training. With a vision to eliminate accidents and fatalities in the workplace and an elite team of EHS experts, Hard Hat Training offers instruction and training resources to companies of all sizes.

About ACLS Medical Training

ACLS Medical Training empowers individual paramedics, nurses, physician assistants, nurse practitioners, and physicians to improve safety in hospitals. Their goal is to teach medical professionals in an innovative learning experience that helps to enhance the systems of care that save lives.

Hennepin Partners acted as ACLS Medical Training's exclusive advisor through this acquisition.

Nox Health Announces Strategic Investment from Vestar Capital to Accelerate Growth

ATLANTA and NEW YORK, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Nox Health (or the “Company”), the global sleep health leader, announced today a strategic growth investment from Vestar Capital Partners, a leading U.S. middle-market private equity firm. The investment will help Nox accelerate development of its sleep diagnostic technology and services, and adoption of its value-based comprehensive sleep management solutions for employers and health plans.   Financial terms of the investment were not disclosed.

“We are delighted to welcome Vestar as a strategic investment partner to help us accelerate our growth. We were looking for a partner with relevant and credible experience and found it in Vestar,” said Nox Health CEO Sigurjon Kristjansson. “Today’s fee for service healthcare economy places the onus on the consumer to navigate a gated health care experience — especially detrimental to sleep health. At Nox, we enable a consumer-centric experience, leveraging our state-of-the-art technology portfolio and value-based sleep management solutions to simplify access, reduce costs and improve health outcomes.”

“Lack of sleep is a silent killer. Sleep disorders are comorbid with seven of the 15 leading causes of death,” said Roger Holstein, Managing Director at Vestar Capital Partners. “Nox is not only a global leader in the science of sleep diagnostics, but it has also created a value-based, comprehensive sleep care management program which fulfills all the objectives of the healthcare ‘Triple Aim’ — a frictionless member experience, with demonstrated health outcomes at a measurably lower cost. We are excited to partner with Sigurjon and the entire Nox team to accelerate the Company’s mission and help millions of people wake up to a brighter world.”

“Sleep is an attractive healthcare category with sustainable long-term growth tailwinds and significant unmet demand,” said Mike Vaupen, Managing Director at Vestar Capital Partners. “Nox has built a differentiated and market-leading set of diagnostic devices, workflow software, and value-based care management services that support a patient’s entire sleep care journey. We look forward to supporting the Company in its next phase of growth.”

Canaccord Genuity served as financial advisor to Nox Health, and Bryan Cave Leighton Paisner LLP acted as its legal counsel. Solomon Partners served as financial advisor to Vestar, and Kirkland & Ellis LLP provided legal counsel.

About Nox Health

Nox Health is a global sleep health leader on a mission to improve the health of populations through better sleep. Every year, more than three million people in 50 countries benefit from Nox products and services. Headquartered in Atlanta, Georgia, and with operations in Reykjavík, Iceland and Denver, Colorado, Nox provides a range of solutions from comprehensive sleep diagnostic technology for providers to value-based comprehensive sleep management programs for self-insured employers and payers. For more information on Nox, please visit www.noxhealth.com.