A Mendota Heights company that services frying oil at 17,000 restaurants, including many McDonald's, said Wednesday it is being acquired by a European private-equity firm.
For Restaurant Technologies Inc., the move is intended to generate even greater growth, while retaining its existing management, sales team and 60,000-square-foot headquarters.
"This is completely a growth story," said Chief Executive Jeffrey Kiesel.
The buyer is EQT, which describes itself as specializing in acquiring midsized companies and "developing them into leading companies."
The core of Restaurant Technologies' business is supplying, servicing and shipping cooking oil used in the fryers at U.S. restaurants.
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