Windjammer Announces Acquisition of Heritage Foodservice Group
FORT WAYNE, Indiana â€“ October 21, 2015 â€“ Windjammer Capital Investors ["Windjammer"] is pleased to announce its acquisition of Heritage Foodservice Group, Inc. ["Heritage" or the "Company"], North America's leading distributor of OEM replacement and repair parts for commercial kitchen equipment in the foodservice industry. Windjammer partnered with the Heritage management team to acquire the business from The Jordan Company. Full terms of the transaction were not disclosed.
Founded in 1987 and headquartered in Fort Wayne, Indiana, Heritage is the largest independent distributor of 100% genuine OEM replacement and repair parts for commercial kitchen equipment, with 10 distribution centers serving the full breadth of institutional, independent and chain restaurant, food retail chain and aftermarket service agent end-markets in all 50 states and across the Canadian span. Built on the elegantly simple value proposition of surprisingly personal and highly knowledgeable customer care, backed by the industry's most comprehensive OEM parts catalog and deepest inventory positions, and complemented by the industry's leading online eCommerce platform [www.heritageparts.com], the Company is exceptionally well positioned to sustain its unparalleled growth trajectory in the distributed parts space for years to come.
With its recent acquisitions of R.G. Henderson, Key Food Equipment Services, and Choquette CKS, the Company has also built a powerful aftermarket repair services offering in Canada capable of delivering comprehensive service solutions across the breadth of the Canadian market.
"Heritage provides a critical link between OEMs and a highly fragmented customer base that relies on the Company to deliver mission critical parts on an expedited basis in support of an urgent break-fix business environment," said Greg Bondick, Managing Director at Windjammer, who led the transaction for the firm. "Heritage's breadth and depth of inventory combined with a 98+% same day shipment of in-stock items have helped the Company create a market leadership position in the industry."
John McDonough, CEO of Heritage said, "Windjammer is an ideal partner for this next stage in the Company's development. The resources Windjammer provides, and its successful track record of working with portfolio companies and management teams to create value for their investors, makes us confident that we will be able to execute on our growth plans."
Heritage is the fourth platform investment in Windjammer's $726 million Senior Equity Fund IV. Costa Littas, Managing Principal of Windjammer said, "We are excited to add Heritage and its management team to the Windjammer portfolio. John McDonough and his team have built a strong foundation to support the company's growth initiatives and meet the market's high performance expectations."
Robert W. Baird & Co. advised The Jordan Company in its sale of Heritage. Choate, Hall & Stewart LLP provided legal counsel to Windjammer.
Greg Bondick, John Donahue, Daniel Lee and Vidur Mittal worked on the transaction for Windjammer. Greg Bondick can be reached at 781-530-9121 or email@example.com for more information.
About Windjammer Capital Investors
Windjammer Capital Investors, with offices in Newport Beach, California and Waltham, Massachusetts, is a national private investment firm that makes control and non-control investments in leading middle market businesses in partnership with management. Founded in 1990, Windjammer's institutional funds total roughly $2.0 billion of committed capital. Since its formation, Windjammer has invested nearly $1.4 billion in over 50 companies across a broad range of industries. Windjammer is currently investing out of its Windjammer Senior Equity Fund IV which manages $726 million worth of commitments and closed in March 2013. More information on Windjammer can be found at www.windjammercapital.com.
About Heritage Foodservice Group
Founded in 1987, Heritage Foodservice Group is North America's leading provider of genuine OEM replacement parts and authorized aftermarket service for commercial and institutional kitchen equipment. Headquartered in Ft Wayne, Indiana, Heritage is comprised of six business units â€“ Heritage Parts and Heritage Service in the US; and Heritage Parts Canada, R.G. Henderson, Key Food Equipment Services and Choquette CKS, Inc. in Canada. The company's continued mission is to provide the highest quality personal care ensuring the customer's success, and to promote OEM partnerships through extension of the OEM's brand and service reach beyond existing networks. Company locations in the United States include: Atlanta; Ft. Wayne; Miami; New Orleans; and Orlando. Canadian locations include Montreal and Quebec City, Quebec; Toronto ON; Burnaby (Vancouver) BC; Victoria BC; Kelowna BC; Edmonton AB; Lethbridge AB; Saskatoon SK; and Regina SK.
Jamie Kenny, Public Relations Counsel