Kevin Callaghan and Larry Hamelsky are Managing Directors and long-time team members at Berkshire Partners, a 35-year-old private equity firm managing over $20 billion in middle-market deals and public equity. Kevin is a member of the Industrials and Consumer teams and Larry is a member of the Industrials and Communications teams at Berkshire.
Parts Town is a distributor of OEM repair and maintenance parts for the foodservice industry. The tech-enabled company provides 150,000 different after-market replacement parts to manufacturers of commercial kitchen appliances. Berkshire bought the business from Summit Partners in 2016 and transitioned ownership to a different Berkshire fund, continuation fund, and outside sponsor in 2021.
We discuss the business, finding and landing the deal, working with management, conducting tuck-in acquisitions, and recapping the business for another chapter of growth.