Acquiring Company
HCI Equity Partners
Acquired Company
Facilities Management
WashingtonSustainabilityFinancial ServicesDescription
Tech24, backed by HCI Equity Partners, announced today it acquired Facilities Management, LLC, and Peltz Services, Inc. ("Facilities Management" or the "Company") based in Indianapolis, Indiana, on May 2, 2022. Tech24 is a national provider of repair and maintenance services for foodservice and commercial HVAC equipment. Facilities Management is Tech24's eighth add-on acquisition in the highly fragmented foodservice repair and maintenance market. Financial terms were not disclosed.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed