M&A Deal Summary

Zone Mechanical Acquires Smart Care Equipment Solutions

On March 11, 2022, Zone Mechanical acquired business services company Smart Care Equipment Solutions from Audax Private Equity

Acquisition Highlights
  • This is Zone Mechanical’s 2nd transaction in the Business Services sector.
  • This is Zone Mechanical’s 2nd transaction in the United States.
  • This is Zone Mechanical’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-03-11
Target Smart Care Equipment Solutions
Sector Business Services
Buyer(s) Zone Mechanical
Sellers(s) Audax Private Equity
Deal Type Add-on Acquisition
Advisor(s) Harris Williams (Financial)

Target

Smart Care Equipment Solutions

St Paul, Minnesota, United States
Smart Care Equipment Solutions is a provider of commercial kitchen repair, maintenance services, and parts to the U.S. commercial foodservice industry. Equipment Care services 40,000 locations across 25 states with 500 technicians and 400 subcontractors and distributes 25K SKUs of OEM and private label parts. Smart Care Equipment Solutions is based in St Paul, Minnesota.

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Buyer(S) 1

Buyer

Zone Mechanical

Alsip, Illinois, United States
Category Company
Founded 2002
Sector Manufacturing
DESCRIPTION

Zone Mechanical is a provider of refrigeration and HVAC mechanical services to the grocery, convenience store and warehouse industries. Zone Mechanical was founded in 2002 and is based in Alsip, Illinois.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-23 Total Line

Avon Lake, Ohio, United States

Total Line operates commercial refrigeration and HVAC company offering preventative maintenance, repair, and installation services. Total Line was founded in 1998 and is based in Avon Lake, Ohio.

Buy -

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 90 of 102
Sector (Business Services) 7 of 8
Type (Add-on Acquisition) 27 of 35
State (Minnesota) 3 of 4
Country (United States) 86 of 97
Year (2022) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 Mobileum

Cupertino, California, United States

Mobileum is a provider of mobile telecom roaming and analytics software. Mobileum provides products including Voice and Data Roaming, Fraud Analytics, Data Monetization, Analytics for Customer Experience, and Service Performance Measurement & Assurance, which allow operator networks to deliver a superior customer experience and grow revenue. Mobileum was founded in 2001 and is based in Cupertino, California.

Sell $915M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-14 Stonewall Kitchen

York, Maine, United States

Stonewall Kitchen is a specialty food and home goods producer selling jams and jellies at local farmers' markets with a flavorful line of distinctive and high-quality products. Stonewall expanded the brand to include sauces, condiments, crackers, and baking mixes, always focusing on innovative product development, beautiful packaging, and exceptional guest service. Stonewall Kitchen was founded in 1991 and is based in York, Maine.

Sell -
Mergr

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