Following the deal, existing shareholder Summit Partners will remain a significant investor in the company.
The terms of the transaction were not disclosed.
Founded in 1987 and led by CEO Steve Snower, Parts Town is a distributor of genuine OEM restaurant equipment parts for the foodservice industry. The company partners with manufacturers of commercial cooking, refrigeration, ice, and beverage equipment to customize solutions for both chain restaurants and food equipment service companies.
Recently, it acquired Whaley Foodservice Repairs, Inc., a large parts distribution and service business, expanding its presence and further enhancing its customer service capabilities.