Smart Care Equipment Solutions, a portfolio company of Audax Private Equity, announces the acquisition of Restaurant Equipment Maintenance Corporation

THE COMPANY
Restaurant Equipment Maintenance Corporation (“REMCO” or the “Company”) is a Pelham, Alabama-based restaurant equipment parts and repair company. The Company has offices in the southeast, including Alabama, Florida, Mississippi, Georgia, and Tennessee. They service the top brands in the full service restaurant, convenience store, quick service restaurant, and healthcare market segments.

THE DEAL
Smart Care Equipment Solutions (“Smart Care”), a portfolio company of Audax Private Equity (“Audax”), has completed the acquisition of REMCO, representing the company’s first add-on acquisition, coming six months after Audax’ investment in Smart Care in November 2017. REMCO expands Smart Care’s geographic footprint in the Southeast U.S. giving Smart Care a platform for growth in the region.

THE THESIS

Smart Care is a leading provider of commercial kitchen equipment repair and maintenance services to commercial food service operators in the U.S., serving 40,000 customer locations across 25 states with 500 technicians and 400 subcontractors. This is Smart Care’s first acquisition since Audax invested in the company with the goal of becoming the preferred national provider.