Parts Town Announces Recapitalization

“Summit has demonstrated integrity and passion for Parts Town from the earliest days of our partnership. They shared our ambition for the business and brought meaningful resources to bear in helping make that vision a reality. As board members and partners, the Summit team has been a large part of the Parts Town growth story.”
Steve Snower
Bill Reedy
Acquired by Berkshire Partners
and Leonard Green Partners 2021
Distributor of restaurant equipment parts and technical service
Completed more than a dozen acquisitions to expand geographic reach and to serve new segments
Increased revenues more than 10x during Summit’s investment period
Expanded team from 100+ employees to more than 2,500
With a commitment to customer service and innovation, and an industry-leading e-commerce platform, Parts Town had become one of the fastest-growing OEM parts distributors to the foodservice industry in North America. CEO Steve Snower believed there was significant opportunity to further accelerate growth – both organically and through acquisitions – and sought a financial partner that would bring experience in technology-enabled distribution and services as well as the resources necessary to help realize his vision for the business.
How Summit Helped:
Since Summit’s initial investment, Parts Town has grown significantly, fueled primarily by new customer and acquisition-driven growth, expansion into new service segments, an enhanced technology platform and new master distribution partnerships. The company continues to innovate and works every day to delight customers and support its more than 1000 manufacturing partners.
In 2021, Parts Town completed a majority recapitalization led a financial sponsor, representing an exit for Summit Partners.