Company supports resurgence of foodservice industry with technology innovations, strategic acquisitions, global expansion and more
May 04, 2022 09:07 AM Eastern Daylight Time
ADDISON, Ill.--( BUSINESS WIRE )--Parts Town, the technology innovator and market-leading distributor of OEM foodservice equipment parts, today announced 33% annual revenue growth for 2021, vaulting its annual revenue to $1 billion. Parts Town has carried significant growth and momentum into 2022 and expects to grow to over $1.8 billion in revenue this year with continuous innovation, new acquisitions and partnerships, new investors, international expansion, and new master distribution programs with industry-leading manufacturers. “We are incredibly proud of Parts Town’s continued growth in 2021,” said Steve Snower, Town Troublemaker, aka CEO, of Parts Town. “Our team members have always risen up to meet new challenges and will continue to do so in 2022. As the restaurant and foodservice industry continues to come back, Parts Town will continue supporting the industry through technology advancements, innovation and fast delivery of the genuine OEM foodservice parts commercial kitchens need to thrive.”
Technology Innovations
Throughout 2021, Parts Town’s strategic technology investments in their Red Lightning Division have continued to create opportunities for customers and partners. In September, Parts Town launched its ecommerce Marketplace . Through the Marketplace, customers have access to one-stop shopping for OEM foodservice replacement parts, as well as products across a variety of new categories, including HVAC parts, janitorial, water filtration, technician supplies and residential appliance parts. In August, Parts Town and Davisware launched PartsPath – an innovative tool that integrates and streamlines the parts purchasing process, saving service providers significant time and money. The functionality of PartsPath saves service companies an average of eight minutes per order, improving efficiency and focus. Acquisitions Driving Growth
Parts Town fueled its continued growth in 2021 with seven acquisitions including General Parts , a leading parts and service provider with deep manufacturer partnerships and Dayton Appliance Parts, which extended Parts Town’s offering to include residential appliance parts. To kick off 2022 and continue its momentum, Parts Town acquired the REPA Group , a European leader in commercial foodservice parts distribution, and Encompass Supply Chain Solutions , a leading national distributor of residential appliance parts, consumer electronic parts, health and wellness parts and other related products. These acquisitions will further enhance the availability, delivery and overall experience of finding and buying spare parts for service companies, restaurants and institutional customers around the world. Welcoming a New Investor
In November, Parts Town announced that Leonard Green & Partners, L.P. made a significant investment in the company, with existing investor Berkshire Partners retaining its majority stake. These investments enable Parts Town to accelerate innovation across its supply chain, distribution and ecommerce operations while further investing in its team to drive sustained high growth. The transaction has also supported the company’s rapid international expansion, and its vision to extend into other mission critical parts categories including HVAC and residential appliance parts. Expanded Distributor Programs
Since its founding, Parts Town has been committed to providing its customers with quick, reliable access to OEM parts. As a result of its continued expansion, Parts Town has seen major growth in its distribution programs. The company has the most in-stock OEM parts in the industry from over 1,100 manufacturers. Throughout 2021, Parts Town added 23 new master distribution programs, bringing the total to 207 programs to ensure the highest inventory availability for its customers. Industry Leading Ecommerce Solution
Parts Town also celebrated 180,000 downloads of its smartphone app, the first and number one mobile app in the industry. With the Parts Town app, customers can search and purchase the right parts, track their order, read and save OEM manuals, chat with a Parts Expert, view interactive diagrams, and check out with a synchronized shopping cart for a seamless experience in the app and online. Industry Recognition
In November, Parts Town was recognized as one of Chicago's Top Workplaces by the Chicago Tribune. Parts Town’s culture of innovation allows its team members to gain hands-on experience working with the next generation of robotics and other automated technologies that will shape the supply chain and distribution industry for years to come. Also in November, Parts Town was recognized with the National Culture Excellence in Remote Work Award by Energage’s Top Workplaces. While the COVID-19 pandemic has continued to disrupt business activities across the country, Parts Town has worked tirelessly to empower team members to innovate despite the challenges of working in a remote environment. Throughout 2021, Parts Town set the industry standard for providing innovative solutions by identifying opportunities to drive the industry forward and working to develop sensible solutions that improve operations. Despite the many challenges of 2021, Parts Town thrived and has continued its momentum into 2022. About Parts Town
Parts Town is the leading distributor of genuine OEM (original equipment manufacturer) foodservice equipment parts. When there’s a hiccup in any commercial kitchen, Parts Town is ready to jump in and help with the most in-stock parts on the planet, innovative technology, and an unmatched customer experience. Customized solutions benefit food equipment service companies, chain restaurants, institutions and independent restaurants. Partnering with the top manufacturers of commercial cooking, refrigeration, ice and beverage equipment, and now offering HVAC and residential appliance replacement parts, Parts Town improves the supply chain, increases sales of genuine OEM parts and keeps every customer’s business running like clockwork. For more information, http://www.partstown.com/ . Contacts

Parts Town Announces 33% Annual Revenue Growth for 2021, Grows to $1 Billion Company

The company said its revenue jumped 33% last year. May 4th, 2022
Parts Town
ADDISON, Ill. – Parts Town, a technology innovator and market-leading distributor of OEM foodservice equipment parts, on Wednesday announced 33% annual revenue growth for 2021, vaulting its annual revenue to $1 billion. Parts Town has carried significant growth and momentum into 2022 and expects to grow to over $1.8 billion in revenue this year with continuous innovation, new acquisitions and partnerships, new investors, international expansion, and new master distribution programs with industry-leading manufacturers. “We are incredibly proud of Parts Town’s continued growth in 2021,” said Parts Town CEO Steve Snower. “Our team members have always risen up to meet new challenges and will continue to do so in 2022. As the restaurant and foodservice industry continues to come back, Parts Town will continue supporting the industry through technology advancements, innovation and fast delivery of the genuine OEM foodservice parts commercial kitchens need to thrive.”
Throughout 2021, Parts Town’s strategic technology investments in their Red Lightning Division have continued to create opportunities for customers and partners. In September, Parts Town launched its e-commerce  Marketplace . Through the Marketplace, customers have access to one-stop shopping for OEM foodservice replacement parts, as well as products across a variety of new categories, including HVAC parts, janitorial, water filtration, technician supplies and residential appliance parts. In August, Parts Town and Davisware launched PartsPath – an innovative tool that integrates and streamlines the parts purchasing process, saving service providers significant time and money. The functionality of PartsPath saves service companies an average of eight minutes per order, improving efficiency and focus. The company fueled its continued growth in 2021 with seven acquisitions, including  General Parts , a leading parts and service provider with deep manufacturer partnerships, and Dayton Appliance Parts, which extended Parts Town’s offering to include residential appliance parts. To kick off 2022 and continue its momentum, Parts Town acquired the  REPA Group , a European leader in commercial foodservice parts distribution, and  Encompass Supply Chain Solutions , a leading national distributor of residential appliance parts, consumer electronic parts, health and wellness parts and other related products. These acquisitions will further enhance the availability, delivery and overall experience of finding and buying spare parts for service companies, restaurants and institutional customers around the world. In November,  Parts Town announced  that Leonard Green & Partners L.P. made a significant investment in the company with existing investor Berkshire Partners retaining its majority stake. These investments enable Parts Town to accelerate innovation across its supply chain, distribution and e-commerce operations while further investing in its team to drive sustained high growth. The transaction has also supported the company’s rapid international expansion, and its vision to extend into other mission critical parts categories including HVAC and residential appliance parts. Latest in Operations

Parts Town Annual Revenue Eclipses $1B

Photo: BriteCo/Facebook
From jewelry to restaurant equipment parts, Chicago startups are touching a wide variety of industries — and they are raising funds to continue innovating. Find out what some of these Chicago tech companies are up to with the Built In Chicago weekly refresh. BriteCo gained $9M. BriteCo provides jewelry insurance with its direct-to-consumer insurance platform. The Series A round, led by Brand Foundry Ventures, brings the company’s total funding to $11 million. [Built In Chicago]
Parts Town acquired Encompass Supply Chain Solutions. Parts Town, which provides next-day delivery of restaurant equipment parts, acquired Encompass Supply Chain Solutions, a company providing OEM parts for electronics and appliances. The partnership will allow Parts Town to expand more into the market of appliance parts and other product categories. [Built In Chicago]
CHICAGO TECH QUOTE OF THE WEEK
“We take the mystery out of finance and give business operators confidence in their numbers and cash flow to empower their growth. The single best piece of information as a fractional CFO I used to give clients was ‘know your numbers.’ Having financial command reduces fear, allows management teams to take calculated risks and focuses them on what they do best to grow their businesses instead of relying on someone else, or spending valuable time wrangling spreadsheets.” – Fady Hawatmeh, Clockwork CEO and co-founder
Clockwork raised $2M. Clockwork is a minority-founded Chicago company working with small businesses to monitor finances and provide them with a five-year financial forecast. The funding round was led by Underscore VC. [Built In Chicago]
Parentaly gained $1.4M. Parentaly is a platform meant to support new working parents, primarily with parental leave. The company raised a seed round of $1.4 million that will go toward enhancing customer experience, increasing its offerings and scaling the company. [Parentaly]
Chicago startup guides

BriteCo Gained $9M, Clockwork Raised $2M, and More Chicago Tech News

Skadden, Arps, Slate, Meagher & Flom advised PT Holdings, Parts Town’s parent company, on the deal. Parts Town announced the acquisition of Encompass Supply Chain Solutions, Inc., a […]

Parts Town’s Acquisition of Encompass Supply Chain Solutions

West Palm Beach, Fla. – Comvest Partners (“Comvest”), an operationally-focused middle-market private investment firm, is pleased to announce the sale of Encompass Supply Chain Solutions, Inc. (“Encompass”, or the “Company”) to Parts Town, a global market leader in genuine original equipment manufacturer (OEM) parts distribution and technology. Encompass had been a platform company in Comvest’s private 
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The post Comvest Partners Completes Sale of Encompass Supply Chain Solutions appeared first on Comvest Partners.

Comvest Partners Completes Sale of Encompass Supply Chain Solutions

Davisware is a software company. Davisware technology suites help manage, organize, and grow service contracting businesses.

Davisware

PartsPath was developed as part of an exclusive partnership between Davisware and Parts Town , which was announced in the spring of 2020 .

Davisware and Parts Town Introduce End-to-End Parts Purchasing Automation, PartsPath&trade;

Work streams focused on the projects included in this partnership are set to launch in Q2 , with market delivery of new Davisware features anticipated in late 2020 .

Davisware Forms Strategic Partnership with Parts Town

york

As part of this partnership , Parts Town will distribute genuine OEM replacement parts for YORK 's commercial rooftop HVAC systems to a variety of National Accounts customers in and outside of the foodservice industry .

Parts Town Announces First-Ever HVAC Partnership with York.

Electrolux Professional is a provider of food service, beverage, and laundry solutions, serving a wide range of customers globally, from restaurants and hotels to healthcare, educational and other service facilities. The company's products include combi ovens, cooking ranges, refrigerated cabinets, chillers and dishwashing equipment, coffee grinders, coffee machines (espresso and brewing), hot beverage dispensers, a cold beverage, and juice dispensers as well as frozen drink and ice cream dispensers, commercial washers, tumble dryers, drying cabinets, ironers, and related specialty accessories and systems.

Electrolux Professional

Electrolux designs, manufactures, and markets electronic home appliances. The company offers refrigerators, dishwashers, washing machines, vacuum cleaners, cookers, ovens, hobs, hoods, dryers, freezers, and small appliances. It is based in Stockholm, Sweden.

Electrolux

Parts Town

Amazon

Hewlett Packard Enterprise

Hewlett-Packard

Arrow Electronics

Newark - Calibration Services Business

Huskie

Tippmann Sports

Bell Sports

Heritage Food Service Group

NIBCO

Gordon Food Service

Recap

Parts Town is a distributor of OEM restaurant equipment parts for the foodservice industry. It is based in Addison, Illinois.

Name	Firm	Work History	Other Seats
John McDonough			Parts Town
Reedy Bill			Parts Town

Name	John McDonough	Reedy Bill
Firm
Work History
Other Seats	Parts Town	Parts Town

Name	Work History	Title	Status
Steve Snower		Chief Executive Officer	Current
Martin Rohde	Amazon, Hewlett Packard Enterprise, Hewlett-Packard, and Arrow Electronics	President	Current
David Wenger	Newark - Calibration Services Business	President, Senior Vice President	Current
Lori Sherwood	Huskie, Tippmann Sports, and Bell Sports	Chief Financial Officer	Current
Mike Sajdak	Heritage Food Service Group, NIBCO, GLP, and Gordon Food Service	Chief Information Officer	Current

Name	Steve Snower	Martin Rohde	David Wenger	Lori Sherwood	Mike Sajdak
Work History		Amazon, Hewlett Packard Enterprise, Hewlett-Packard, and Arrow Electronics	Newark - Calibration Services Business	Huskie, Tippmann Sports, and Bell Sports	Heritage Food Service Group, NIBCO, GLP, and Gordon Food Service
Title	Chief Executive Officer	President	President, Senior Vice President	Chief Financial Officer	Chief Information Officer
Status	Current	Current	Current	Current	Current

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