MT. PROSPECT, Ill. & NEW YORK – Diversified Foodservice Supply, Inc., 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, Inc. (“DFSI” 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. DFSI 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. DFSI 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 DFSI to provide industry-leading selection and service to its customers.
“The DFSI 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 DFSI 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 DFSI team for continued growth and success.”
“New Mountain is the ideal partner to help DFSI achieve the next level of growth,” said Mike Cate, Chief Executive Officer of DFSI. “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.”
About Diversified Foodservice Supply
Diversified Foodservice Supply, Inc. is a leading distributor of maintenance, repair and operations parts, supplies, and equipment to the foodservice industry. The company currently operates through multiple brands including AllPoints Foodservice Parts & Supplies, Tundra Restaurant Supply, Franklin Machine Products, Mill Hardware, and Restaurant Parts & More. DFSI serves over 250,000 foodservice customer locations across multiple end-markets, including restaurants, service agencies, equipment and supplies dealers, and institutions. DFSI is headquartered in Mt. Prospect, Illinois and manages operations in seven distribution facilities and brand headquarters located across the United States. The combination of its geographic footprint, coupled with an expansive item profile of over 100,000 SKUs, enables DFSI to quickly and efficiently meet the needs of its valued customers.
About New Mountain Capital
New Mountain Capital is a New York-based private equity firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $15 billion in aggregate capital commitments. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
Source: Diversified Foodservice Supply
