Parts Town acquires North American Commercial Parts and Service

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June 6, 2015

Southport, CT - Carter Morse & Mathias ("CMM") is pleased to announce that North American Commercial Parts and Service, Inc. ("NACPS"), headquartered in Windsor, Connecticut, was acquired by Parts Town, headquartered in Addison, Illinois and backed by the private equity firm Summit Partners. Carter Morse & Mathias served as NACPS's exclusive financial advisor for the transaction, which closed on June 1, 2015. Terms of the transaction were not disclosed.

NACPS is a leading food equipment parts distribution and field service company. NACPS provides parts, repair and planned preventive maintenance services for thousands of restaurants, hotels, hospitals, school districts, and universities. NACPS has operations in California, Florida, Georgia and the New England area and employs more than 150 people. NACPS maintains relationships with many of the leading restaurant equipment manufacturers and operates factory authorized parts and service centers for select OEMs.

The NACPS acquisition supports Parts Town's long-term growth strategy and strengthens its customer and manufacturer value proposition. Steve Snower, CEO of Parts Town, commented, "This was an important acquisition for us, and we are excited to expand our relationship with NACPS and further strengthen our support of the industry's leading manufacturers."

Parts Town, founded in 1987, is a leading national firm focused on the marketing and distribution of OEM restaurant equipment parts. Additionally, Parts Town operates a group of local field service and parts distribution operations. Parts Town enjoys strong partnerships with over 200 manufacturers of restaurant equipment and operates the most advanced eCommerce platform in the restaurant parts distribution industry.

Wes Tyler, NACPS's President, commented, "Working with CMM was invaluable due to their knowledge of the industry, their assistance in preparing us for the intensive transaction process and their skills in helping us negotiate the best possible terms for our shareholders, our employees and our customers." Jim O'Brien, EVP and owner added, "Parts Town will add state of the art technology expertise, management depth and financing, all of which will enhance the performance we deliver to our manufacturers and customers."

Michael Carter, Managing Director of CMM, explained, "This is our second time working with the management team at NACPS, having advised the principals in the sale of their first business to Ecolab. It's a rare achievement when entrepreneurs are equally successful the second time around across multiple strategic transactions. We are very proud to be a valuable resource to this extraordinary team."

Other transaction advisors for NACPS included Shipman Goodwin, which served as NACPS's legal advisors and Dworken Hillman which served as the company's auditing firm. Parts Town's advisors included Weil, Gotshal & Manges (law firm), Metronome Partners (investment banker) andMcGladrey (accounting and due diligence).

About Carter Morse & Mathias

Founded in 1987, Carter Morse & Mathias, based in Southport, Connecticut, is a full service investment-banking boutique that provides the highest quality corporate finance advisory services to outstanding closely-held entrepreneurial and middle-market companies. CMM provides a full range of investment banking services, including sell-side advisory, raising capital, buy-side advisory, and valuation services. CMM is a charter member of AICA, an international network of M&A professionals in over 20 countries in the Americas, Europe, Asia and the Middle East. CMM's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC. For more than 27 years, CMM professionals have helped hundreds of business owners to conceive, initiate, structure and close M&A and capital transactions.

About Carter Morse & Goodrich

Located in Southport, Connecticut, Carter Morse & Goodrich is a boutique M&A advisory firm that specializes in representing founder-led and family-held businesses valued between $25 million and $250 million. While CMG provides a full range of investment banking services, our primary focus is representing owners who are pursuing their once-in-a-lifetime M&A transactions. CMG specializes in advising leading companies in niche markets to plan, prepare, execute, and close successful transactions that maximize shareholder value. CMG fully understands and appreciates the unique dynamics of closely-held businesses and the importance of owner legacies. For 35 years, the combination of our hands-on approach, senior banker attention, strategic guidance, seamless transaction execution and extensive network of domestic and international resources has enabled us to become a trusted advisor to hundreds of business owners.

CMG's Broker/Dealer affiliate, Carter Capital Corporation, is a FINRA member firm registered with the SEC and SIPC.

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