Greenwich Capital Group (“GCG”) is pleased to announce its role as the exclusive investment banker to Pronto Repairs (“Pronto” or the “Company”) on its sale to Tech24, a portfolio company of HCI Equity Partners. This transaction adds to GCG’s extensive experience in the business services sector, particularly within commercial facilities services.
About the Transaction
Since 1983, Pronto has been a leading provider of outsourced equipment management solutions for many of the major hospital systems throughout New York City and surrounding markets. The Company is a critical and reliable resource to foodservice, biomedical, and other departments of these hospitals, handling anything from preventative maintenance and ongoing repair services to fast sourcing and installation of replacement parts and equipment. Pronto also effectively sources difficult-to-find equipment to support its customers’ overhaul and new facility buildout efforts.
The company brings tremendous depth and experience to Tech24 within the healthcare segment, particularly within the New York City market which is densely populated with many premier hospital systems. Led by President Brendan Mirque, Pronto’s talented leadership and employees are excited to join forces with Tech24 and continue building upon the Company’s legacy. Through the integration of Pronto into Tech24’s platform, the Company will have more resources dedicated to recruiting high-quality technicians and supporting Pronto in other areas that will enable the Company to expand its capabilities, serve more needs for existing customers, and accelerate its growth within existing and new geographic markets.
“Tech24 has been on an exciting trajectory of geographic and technician growth, and we’re thrilled to continue making strides to strengthen our presence both in the New York City area and the healthcare segment,” said Dan Rodstrom, CEO of Tech24. “We welcome Pronto Repairs and look forward to working with Pronto’s President, Brendan Mirque, and his entire team as part of the Tech24 family.”
“Over the past forty years, Pronto experienced tremendous growth through the establishment of new customers and expanding capabilities”, said GCG Managing Director Matt Melago. “We are thrilled the Company has found a strong partner in Tech24 that brings additional resources and expertise that the Company can leverage to capitalize on the platform it has built and grow even faster”, said Melago as well.
“I am grateful for the professionalism with which our transaction was handled”, said Brendan Mirque, President of Pronto. “Matt and his team displayed a deep understanding of our business and the intricacies involved in the transaction, which we would not have been equipped to handle on our own, and I would highly recommend GCG to any other owner that desires to sell his or her company”, said Mirque as well.
About Pronto Repairs
Based in Tappan, NY, Pronto is a provider of hot- and cold-side equipment management solutions that has long-term relationships with hospitals and medical centers throughout metropolitan New York City, the nation’s largest market by population. The Company partners with customers, primarily foodservice and other department heads, to provide daily management of their kitchen, biomedical, and other facilities. This includes a comprehensive approach to maintaining and ensuring the facility continues to operate efficiently and cost-effectively, enabling customers to increase uptime, extend the useful life of its equipment, and achieve greater patient satisfaction. For more information, please visit https://www.prontorepairs.com.
Tech24 provides installation, preventative maintenance, and repair for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage, and specialty foodservice equipment, as well as performs HVAC, electrical, and plumbing services. For more information, please visit www.mytech24.com.
About HCI Equity Partners
HCI is a lower middle market private equity firm focused on partnering with family and founder-owned distribution, manufacturing, and service companies. HCI makes majority investments in businesses within North America in large, fragmented markets. HCI is headquartered in Washington, DC. For more information, please visit www.hciequity.com.