NEW MOUNTAIN CAPITAL partners with DIVERSIFIED FOODSERVICE SUPPLY, a leading distributor of parts, supplies and equipment to the U.S. foodservice industry
Mt. Prospect, IL & New York, NY, February 16, 2015 – Diversified Foodservice Supply, LLC., a leading distributor of maintenance, repair, and operations parts, supplies, and equipment to the U.S. foodservice industry, announced today that it has partnered with New Mountain Capital, a growth-oriented investment firm that currently manages over $15 billion in assets.
Diversified Foodservice Supply, LLC. (“DFSLLC” or the “Company”), based in Mt. Prospect, IL, is a leading distributor of maintenance, repair and operations (“MRO”) parts, supplies, and equipment to the U.S. foodservice industry, serving over 250,000 foodservice customer locations. The Company is uniquely positioned in the industry due to its strength in sourcing high quality parts from both original component and original equipment manufacturers. DFSLLC currently operates through multiple brands including AllPoints Foodservice Parts & Supplies, Tundra Restaurant Supply, Franklin Machine Products, Mill Hardware, and Restaurant Parts & More. The Company’s brands are consistently recognized as market leaders in service, quality, and value. DFSLLC has a long track record of strong organic growth complemented by successful acquisitions. These acquisitions have helped to broaden the Company’s product offering and geographic footprint, enabling DFSLLC to provide industry-leading selection and service to its customers.
“The DFSLLC team has developed a proven growth strategy and we are excited to put additional resources behind this strategy to grow and expand the business,” said Mat Lori, Managing Director at New Mountain Capital. “We look forward to working closely with management over the coming years to support the realization of the Company’s full growth potential by investing behind both organic initiatives and acquisitions.”
“The DFSLLC focus on best-in-class service and great value resonates strongly with foodservice owners, dealers, and operators,” said Larry Benjamin, Senior Advisor at New Mountain Capital and former Chief Executive Officer of US Foods. “We are excited to partner with Mike Cate and the rest of the DFSLLC team for continued growth and success.”
“New Mountain is the ideal partner to help DFSLLC achieve the next level of growth,” said Mike Cate, Chief Executive Officer of DFSLLC. “New Mountain has a long track record of supporting business building, and we will have significant resources to achieve our strategic objectives. We look forward to our partnership and the benefits it will yield for our customers and employees.”