Stout announced today that its client, Empire Equipment Company d/b/a Empire Marketing Group (Empire), a leading Southeast-based distributor of foodservice equipment and associated repair and maintenance products, has been acquired by Kian Capital Partners, LLC (Kian), Crescendo Capital Partners, LLC, and Stewart Capital Management, LLC. Stout served as exclusive financial advisor to Empire in connection with the sale of the company.
Founded in 1985 and headquartered in Goldsboro, North Carolina, Empire distributes a comprehensive portfolio of foodservice equipment products which include icemakers, gas ranges, refrigerators and freezers, water treatment systems, ovens, and microwaves. Empire serves foodservice equipment dealers, buying groups, chain accounts, air conditioning and refrigeration equipment wholesalers, service companies, and broadliners throughout the Southeast United States. In addition to its Goldsboro distribution center, Empire operates distribution centers in Atlanta, Georgia, and Lakeland, Florida.
Mr. Kevin McCarthy, Partner at Kian, said, “Kian is excited to partner with Empire Equipment, one of the largest wholesale distributors of foodservice equipment in the Southeast. We believe our financial and strategic support will enable the Company to achieve its growth objectives by focusing on our extensive customer network and supporting our leading manufacturing partners.””
Mr. Michael Benson, a Managing Director at Stout, led the execution of the transaction. Mr. Benson added, “Empire’s new ownership group brings a significant amount of industry expertise and resources to Empire, which is well-positioned for continued growth as a result of its strong management team, superior reputation in the Southeast market, and entrenched relationships with key vendors and customers. It was a pleasure working with Empire on this important transaction.”
Stout is a global financial advisory firm specializing in Investment Banking, Valuation Advisory, Dispute Consulting, and Management Consulting. Our clients rely on our premier expertise, deep industry knowledge, and unparalleled responsiveness on complex financial matters.
Stout is a trade name for Stout Risius Ross, LLC and Stout Risius Ross Advisors, LLC, a FINRA registered broker-dealer and SIPC member firm.