M&A Deal Summary

Tech24 Acquires 1st Source

On October 3, 2022, Tech24 acquired business services company 1st Source

Acquisition Highlights
  • This is Tech24’s 13th transaction in the Business Services sector.
  • This is Tech24’s 13th transaction in the United States.
  • This is Tech24’s 1st transaction in Texas.

M&A Deal Summary
Date 2022-10-03
Target 1st Source
Sector Business Services
Buyer(s) Tech24
Deal Type Add-on Acquisition

Target

1st Source

Lewisville, Texas, United States
1st Source is a provider of repair services, preventative maintenance, and installation for food service, refrigeration equipment, HVAC, and plumbing. The Company services restaurants, hotels, religious establishments, country clubs, and convenience stores in the Dallas-Fort Worth area, San Antonio, and Arkansas. 1st Source is based in Lewisville, Texas.

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Buyer(S) 1

Buyer

Tech24

Greenville, South Carolina, United States
Category Company
Founded 1982
Sector Business Services
DESCRIPTION

Tech24 is an installation, preventative maintenance, and repair company specializing in foodservice facilities. The company specializes in cooking, refrigeration, beverage, and specialty foodservice equipment. In select markets, it also performs HVAC, Electrical, and Plumbing services. Tech24 was formed in 1982 and is based in Greenville, South Carolina.

DEAL STATS #
Overall 13 of 18
Sector (Business Services) 13 of 18
Type (Add-on Acquisition) 13 of 18
State (Texas) 1 of 1
Country (United States) 13 of 18
Year (2022) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-27 Allied Service Group

Jackson, Tennessee, United States

Allied Service Group is a provider of repair services, preventative maintenance, and installation for food service and HVAC equipment, servicing restaurants, grocery stores, and institutions in Southwest Tennessee and Northern Mississippi. Allied Service Group is based in Jackson, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-12 TEK Express

Lynbrook, New York, United States

TEK Express is a provider of repair services, preventative maintenance and installation for commercial cooking and refrigeration equipment, servicing commercial kitchens in schools, institutions, hospitals and restaurants. TEK Express is based in Lynbrook, New York.

Buy -
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