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May 21, 2018updated 02 Aug 2018 6:51am

Foodservice parts distributor Parts Town acquires 3Wire Group foodservice business

Parts Town, a company involved in foodservice parts distribution, has purchased foodservice parts distribution and field service business assets of 3Wire Group, which is a Marmon company for undisclosed amount.

Parts Town, a company involved in foodservice parts distribution, has purchased foodservice parts distribution and field service business assets of 3Wire Group, which is a Marmon company for undisclosed amount.

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These businesses of 3Wire are involved in the distribution of foodservice equipment parts, thereby bringing value-added solutions to food chains and food equipment service companies.

Independently owned firms Northern Parts, Pacific Coast Parts, and Restaurant Appliance Service came together under the 3Wire brand as part of IMI Cornelius, before becoming part of Marmon in 2014.

3Wire’s beverage parts distribution division and technical service support team will be part of Marmon and will be re-branded.

Parts Town parent company PT Holdings CEO Steve Snower said: “This acquisition will further strengthen the differentiated value we bring to both our manufacturer and customer partners.

“3Wire has built an excellent team, a strong brand and very solid major account partnerships, along with innovative technology. We are really excited to welcome the 3Wire team to Parts Town and to build on the legacy of such a great organization.”

After the deal, Jeff Audette, general manager, will continue to lead the 3Wire foodservice parts distribution team as part of Parts Town, while Tom McPeters, general manager, will lead the 3Wire field service team.

Snower said: “Jeff and Tom are proven industry leaders and have built outstanding teams.

“We are excited to take the best of Parts Town and 3Wire, and create something truly special in the foodservice equipment parts space to strengthen our manufacturer and customer partnerships.”

3Wire brand and Parts Town businesses will come closer together in the coming months.

Audette added: “This combination is incredibly compelling. We are ready for this next exciting chapter of growth and innovation as part of a dynamic, fast-growing team. We have enormous respect for Parts Town and believe that this partnership is a game changer for our manufacturers, our customers, and our team members.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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