M&A Deal Summary

Source Capital Acquires Kitchen Brains

On May 19, 2022, private equity firm Source Capital acquired machinery company Kitchen Brains

Acquisition Highlights
  • This is Source Capital’s 3rd transaction in the Machinery sector.
  • This is Source Capital’s 34th transaction in the United States.
  • This is Source Capital’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2022-05-19
Target Kitchen Brains
Sector Machinery
Buyer(s) Source Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Kitchen Brains

Stratford, Connecticut, United States
Kitchen Brains is a designer and manufacturer of fully integrated smart cooking computers, electronic controls and software solutions for commercial foodservice operations. The company brands, including (FAST.), Modularm and QPM, feature a growing number of products that incorporate KBconnectTM IoT/cloud connectivity, and can be found globally in QSRs, casual and fine dining restaurants, convenience and grocery stores, schools, hospitals, stadiums and other facilities. Kitchen Brains was founded in 1969 and is based in Stratford, Connecticut.

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Buyer(S) 1

Buyer

Source Capital

Atlanta, Georgia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2002
Size Small
Type Sector Agnostic
DESCRIPTION

Source Capital is a private equity firm that invests in mature, smaller companies in a variety of sectors. The Firm generally looks to support management-backed leveraged acquisitions, recapitalizations, growth financings, and various turnaround situations. Source Capital's broad industry focus includes business services, consumer, distribution/supply, healthcare, and light manufacturing. The Firm prefers control investments, but will selectively review minority situations. Target companies are typically profitable with at least $2 million in EBITDA. Source Capital will not invest in venture deals, high tech, or real estate. Source Capital was formed in 2002 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 34 of 38
Sector (Machinery) 3 of 3
Type (Buyout (LBO, MBO, MBI)) 18 of 20
State (Connecticut) 1 of 1
Country (United States) 34 of 38
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 AE Tools & Computers

Olathe, Kansas, United States

AE Tools & Computers is a distributor of OEM-level diagnostic tools to the aftermarket car and heavy-duty truck repair markets. The Company’s customers include independent repair shops, auto parts stores, locksmiths, collision centers and used car dealers. AE Tools & Computers was founded in 2005 and is based in Olathe, Kansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 M&M Carnot

Federalsburg, Maryland, United States

M&M Carnot is a provider of industrial refrigeration equipment and control systems for cold storage, food processing, and other industrial applications. M&M designs build, manufactures and service industrial refrigeration systems around the world. M&M Carnot was founded in 1969 and is based in Federalsburg, Maryland.

Sell -
Mergr

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