Baird's Investment Banking Group is pleased to announce the following transaction:

Date:
November 2021
Company:
Parts Town, LLC
Description:
Recapitalization in partnership with Leonard Green & Partners
Sector(s):
Distribution
Consumer
Baird served as joint lead advisor to Parts Town, LLC on this transaction

Parts Town, LLC (“Parts Town” or the “Company”), a portfolio company of Berkshire Partners, recently completed a recapitalization of the business in partnership with management and Leonard Green & Partners (“LGP”). Berkshire Partners will retain its majority stake in the Company. These investments will enable Parts Town to accelerate innovation across its supply chain, distribution and ecommerce operations while further investing in its team to drive sustained high growth. Terms of the transaction were not disclosed.

Parts Town is the technology innovator and market-leading distributor of OEM foodservice equipment parts. The Company has grown from five team members in 2003 to over 2,500 employees today with over $1 billion in annual revenue – driven by 18 years of continued technological innovation. Partnering with over 1,100 leading manufacturers, Parts Town improves the supply chain, increases sales of genuine OEM parts, and keeps every customer’s business running like clockwork. The Company is headquartered in Addison, Illinois.

Berkshire Partners has 35 years of investment history. Berkshire Private Equity has made more than 135 private equity investments since its inception and has a strong history of partnering with management teams to grow the companies in which it invests. Berkshire Partners has partnered with high-potential businesses for many decades, focusing on the technology, services, industrials, consumer, communications, and healthcare sectors. Berkshire Partners is headquartered in Boston Massachusetts.

Leonard Green & Partners is a leading private equity firm with over $50 billion of assets under management. LGP, founded in 1989, has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carve-outs and selective public equity and debt positions. Located in Los Angeles, California, LGP invests in established companies that are leaders in their markets.

For additional information about this transaction, please contact:

Jason Kliewer +1-813-273-8242
Chris McMahon +1-312-609-4983
Les Cheek +1-617-426-5789
Nick Troyer +1-813-273-8204
Rob Hamill +1-813-273-8243
Rhett Braunschweig +1-312-609-2548