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 Capital-backed Roland Foods Acquires ifiGOURMET, a Provider of High-quality Products for the Bakery and Pastry Industries
NEW YORK, Aug. 21, 2023 /PRNewswire/ — Roland Foods, LLC ("Roland Foods"), a purveyor of fine global ingredients for over 85 years and a portfolio company of Vestar Capital Partners, announced today that it has acquired ifiGOURMET, a leading importer and master distributor of high-quality products for professional use in the bakery, pastry, confectionery, and ice cream industries. Terms of the transaction were not disclosed.
ifiGOURMET will be combined with AUI Fine Foods, Roland Foods' sweet division, and ifiGOURMET's owner and CEO Rick Brownstein will remain with the company going forward.
"This strategic acquisition will strengthen AUI Fine Foods' footprint in the key Chicago and San Francisco markets and expands our sweet product offering, which will allow us to better serve existing and new customers nationwide," said Keith Dougherty, CEO of Roland Foods. "We believe tremendous opportunities exist in the gourmet food and ingredients market today, and the addition of the ifiGOURMET team will better position Roland Foods for growth."
An importer of gourmet dessert products and ingredients from around the world, ifiGOURMET serves more than 1,500 in-store bakery, restaurant chain and foodservice customers nationwide. It operates two distribution centers in Chicago, IL, and San Francisco, CA.
"We are proud to support Roland Foods' expansion with the acquisition of ifiGOURMET, and we look forward to continuing our partnership with Keith and the entire Roland Foods and AUI Fine Foods team as they continue to identify new strategic acquisition opportunities," said Ken O'Keefe, Vestar Managing Director and Chief Operating Officer, and Member of the Board of Roland Foods.
"Joining AUI Fine Foods and the Roland Foods' family will provide ifiGOURMET with the resources and relationships needed to take our organization to the next level," said Mr. Brownstein. "Roland Foods and AUI share our culture and strong commitment to customer service and deeply understand our business, and we're excited about the future."
About Roland Foods
Since 1934, Roland Foods has been a purveyor of premium, high-quality global ingredients. With a curated portfolio of over 2,400 products carefully sourced worldwide, the brand is a trusted resource relied upon by chefs and home cooks. An established brand in the Fine Foods category, Roland Foods aims to inspire culinary curiosity and creativity in the kitchen. To learn more about Roland Foods, please visit https://rolandfoods.com/
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, Texas, May 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.
IRI and NPD Rebrand as Circana, the Leading Advisor on the Complexity of Consumer Behavior
[CHICAGO] – March 7, 2023 – Following their merger in August 2022, Information Resources, Inc. ("IRI") and The NPD Group ("NPD") today unveiled a new combined company name and brand identity: Circana.
Circana™ is the leading advisor on the complexity of consumer behavior. Through unparalleled technology, advanced analytics, cross-industry data and deep expertise, Circana provides clarity that helps clients take action and unlock business growth.
“We are proud to begin this new chapter together as Circana, a name that conveys our 360-degree, full-circle understanding of the consumer and market, and our unique ability to bring clients a complete view of the consumer, store and wallet,” said Kirk Perry, president and chief executive officer, Circana (formerly IRI® and NPD®). “In today’s dynamic global retail and media environment, our value proposition has never been stronger. Circana is undeniably best positioned to advise the world’s leading brands and retailers across almost every industry on how to identify opportunity, ignite innovation and grow well into the future.”
Leveraging the vast data and expertise of its heritage firms, Circana tracks millions of products spanning 2,000+ categories across 500,000+ stores in 20 countries, with insights powered by the industry’s most advanced technology platform, Liquid Data®. Today, Circana advises almost 7,000 brands and retailers worldwide.
Tod Johnson, chairman of Circana’s board of directors, added, “The combination of IRI and NPD created a category of one. In the months since the merger, we have demonstrated — for our clients and for our team — the immense value of bringing our firms together. Moving forward with a unified name and brand signifies that Circana is committed to delivering on the full value of our powerful combination for all of our stakeholders, with a relentless focus on innovation and growth.” The Circana brand was created in partnership with global brand consulting firm Landor & Fitch.
Management, Supported by Vestar Capital and Windhover Capital, Recapitalizes Titan Frozen Fruit, a Market-Leading Frozen Berry Processor and Ingredient Provider
NEW YORK, Jan. 5, 2023 /PRNewswire/ -- Management and existing shareholders of Titan Frozen Fruit, along with Vestar Capital Partners, a leading U.S. middle market private equity firm, and Windhover Capital, a private equity firm focused on the food, beverage, pet and consumer sectors, jointly announced today that they have agreed to recapitalize Titan, a market-leading, value-added frozen berry processor and ingredient provider to the food and beverage industry. Titan's co-founders will retain a significant stake in the Company and will continue to serve in their respective positions. Terms of the transaction were not disclosed.
Founded in 2013 and headquartered in Santa Maria, CA, Titan is one of the country's leading and fastest-growing frozen berry processors, providing value-added frozen ingredients to a spectrum of industrial, foodservice and retail clients. Titan is at the forefront of innovation in the industry and offers a wide breadth of products that are critical elements to its customers' end products, which include smoothies, juices, ice cream, yogurt and jams.
"Our vision is to continue to build the next generation fruit processing and ingredients company, offering a wide variety of value-added and innovative products to our customers, and our partnership with Vestar and Windhover is the next step in that journey," said Jon Larsen, CEO and Co-Founder of Titan. "They are enthusiastically committed to our business strategy and will provide the financial backing, strategic thinking, industry relationships and track record needed to build on our momentum."
"Titan is a dynamic and well-managed business that has built a terrific service and innovation-driven reputation in the frozen berry and food ingredients sector. We are looking forward to partnering with the Titan team and Vestar to continue to drive supplier partnerships and market leadership through a collaborative and research-oriented approach to adding value," said Chris Harned, Co-Founder and Managing Partner of Windhover. "We aspire to grow Titan significantly through internal expansion projects, diversification into related value-added food ingredients, complementary acquisitions and other partnerships."
Dan O'Connell, Founder and CEO of Vestar, said, "In a short period of time, Titan has disrupted the fruit processing and ingredient industry in large part due to the strength of the team. We are excited to partner with Windhover and Jon and the entire team at Titan to build on the Company's strong foundation, which is rooted in deep domain expertise, strong partnerships with growers and suppliers, and a relentless commitment to quality, reliability and innovation. Titan is at an attractive inflection point, and we believe that, in partnership with Windhover, we can help to augment and accelerate management's well-proven growth strategy."
Dorsey & Whitney LLP served as legal counsel and Cascadia Capital acted as financial advisor to Titan. Karr Tuttle Campbell served as legal counsel to Windhover. Kirkland & Ellis LLP served as legal counsel to Vestar.
About Titan Frozen Fruit
Based in Santa Maria, CA and founded in 2013, Titan is a market leader in frozen berry processing. The Company buys berries from a network of large commercial growers in California and Baja California and processes the berries into a variety of pack styles (aseptic and pasteurized purées, purée concentrate, thermal particulate, individual quick frozen and block quick frozen). Titan sells the processed berries to a diversified roster of food and beverage manufacturers, foodservice/QSRs and retail/club stores. For more information on Titan, please visit www.titanfrozen.com.
About Windhover Capital
Windhover Capital is a food, beverage, pet and consumer focused private equity firm based in Seattle, Milwaukee and New York. Windhover's strategy is to partner with management teams and owners to build strategic value, improve profitability and accelerate growth. For more information on Windhover, please visit www.windhovercap.com.
360training Acquires AdvanceOnline — Expanding Online Training Footprint with New DOT CMV Courses
AUSTIN, Texas, Dec. 28, 2022 /PRNewswire/ — One of the leading Environmental, Health, and Safety online regulated training providers, 360training, has acquired AdvanceOnline. Through this acquisition, 360training continues to grow their OSHA Online Outreach program and expands their extensive library to include DOT transportation safety training courses, including CMV Driver and CMV Motor Carrier Management.
AdvanceOnline Solutions provides professional and educational environmental health and safety services to corporations, associations, and government agencies involved in the construction, transportation, manufacturing, energy, and utility industries.
AdvanceOnline offers high-quality online training. They were among the first to be accepted by the OSHA Outreach Program for issuing official DOL OSHA course completion cards. With over 120 courses in their catalog, AdvanceOnline is a welcome addition to the 360training family of companies.
Ryan Linders, CMO at 360training, adds, "The acquisition of AdvanceOnline demonstrates our commitment to continue to add high quality programs and brands to 360training. It presents a fantastic opportunity to expand our capabilities and market share in the Environmental, Health & Safety industry vertical and opens the door for us to offer complimentary courses and products, available under the 360training brand, to our corporate customers, Affiliates, and Resellers."
AdvanceOnline History
AdvanceOnline provides exceptional e-Learning and video-based content to help companies comply with federal health and safety regulations, including OSHA Outreach titles like OSHA 10-Hour Construction, OSHA 30-Hour Construction, OSHA 10-Hour General. They are one of a few companies with authorization from OSHA to provide these courses and offer NYC (New York City) Site-Safety Training. Their DOT content was developed in conjunction with the Department of Transportation. "AdvanceOnline aligns perfectly with 360training's goal to provide engaging and comprehensive training programs that prevent workplace injury and enhances public safety." Samantha Montalbano, COO of 360training.
Acquisition by 360training
360training is focused on accelerating growth in support of its mission to provide enhanced training solutions across regulated markets. The acquisition of AdvanceOnline aligns with that mission because the two companies share similar goals.
"The synergy between 360training and AdvanceOnline makes sense. AdvanceOnline was founded to help companies comply with strict health and safety regulations which echoes 360training's mission of enabling a safe environment through regulatory training. By joining together, we're able to enhance workplace safety for communities across the nation." Tom Anderson, CEO of 360training.
About AdvanceOnline
Headquartered in Houston, TX, AdvanceOnline Solutions provides professional and educational environmental health and safety services to corporations, associations, and government agencies involved in the construction, transportation, manufacturing, energy, and utility industries. With over 75 years of collective experience in safety training development, delivery and consulting, their team develops high-quality, affordable web-based and classroom training for students and corporations to maintain and exceed compliance to government, industry, and company defined safety standards and requirements.
About 360training
Since 1997, 360training.com, Inc. provides individuals and businesses with online regulatory-approved training, facilitating a safe, healthy environment for their communities. We have delivered over 11 million training plans across multiple brands, including 360training, Meditec, AgentCampus, VanEd, OSHAcampus, OSHA.com, TIPS, and Learn2Serve. Please visit www.360training.com or their social media accounts on Facebook, Twitter, and LinkedIn to learn more.