Auctus Capital Partners is pleased to announce its role as strategic advisor to EVO America, Inc., supporting its acquisition by strategic buyer The Middleby Corporation (NASDAQ: MIDD). The transaction was led by Auctus Capital Partners and its Managing Director William Allen. “It was a pleasure working with the executive leadership teams of both companies, from strategic planning with EVO at the onset to meeting each company’s expectations in completing this transaction,” said Allen.
EVO is a leading designer and manufacturer of display cooktops, ventless cooking surfaces and premium outdoor grills. for. Its cooktops and grills are used by restaurants, sports arenas, hotels, corporate cafeterias, convention centers, resorts, grocery stores and other similar venues.
EVO’s patented ventless systems are currently used by a blue chip customer base that includes Benihana, Whole Foods, Google, Apple, Microsoft, Marriott, Sheraton, Hyatt, Hilton, and many notable U.S. stadiums and arenas.
“This transaction enables EVO to enter a new era of growth, helping put its intellectual property to work and continue innovating for its diverse customer base,” Allen said. “For Middleby, this acquisition expands its product offerings in the ventless cooking space and helps diversify its position in the commercial foodservice industry while also adding EVO’s experienced and talented management team.”
Prior to the EVO America transaction, Middleby completed the $1-billion acquisition of Taylor Company in addition to adding several other food service companies to its portfolio in 2018.
Terms of the acquisition were not disclosed.
