Horizon Food Equipment, Inc. Announces Recapitalization with Hamilton Robinson Capital Partners
August 8, 2013 - Schenectady, New York
Horizon Bradco (operating under the Horizon Bradco and Bake-Rite International brands), a leading service provider and distributor of commercial and industrial food processing equipment, announced today that it has completed a recapitalization with management and an investor group led by Hamilton Robinson Capital Partners. Horizon Bradco will remain an independent company with substantial ownership by the founders, and the same group of Horizon Bradco employees will continue their commitment to quality, maintenance and responsiveness.
Horizon was founded in 1987 and is headquartered in Schenectady, New York with additional office locations in Massachusetts, North Carolina and Florida. Horizon Bradco is a distributor of the latest innovative technologies in food service equipment and best-in-class service and maintenance to the commercial and industrial food processing industry. Bake-Rite International provides complete bakery equipment solutions for the retail, wholesale and industrial baking markets.
Chris Lund, Partner at Hamilton Robinson stated, "We are thrilled to partner with Horizon's founding entrepreneurs and longtime HRCP Executive Affiliate Mark Panozzo to support the company in its next phase of growth and development. The company's best-in-class specialized equipment and service offerings represent an outstanding fit with our investment portfolio of leading industrial brands offering technical products and services."
Brian Donovan, Founding Partner of Horizon Bradco stated, "Kathy, Frank, and I are so proud to enter into this new partnership with Mark Panozzo and Hamilton Robinson. We recognize the tremendous opportunity for assistance in growing the Horizon Bradco and Bake-Rite brands. With this new partnership, and the continued commitment of our dedicated staff, the new Horizon group will continue its aggressive growth and expansion plans with a seasoned business leader and a solid investment partner to guide us to the next level of success."
Mark Panozzo, newly appointed CEO of Horizon Bradco shares his enthusiasm, "I am extremely excited about joining the Horizon Bradco and Bake-Rite team. Brian and Kathy Donovan and Frank Corvino have created a dynamic company that is ideally positioned for growth with several of its market leading customers in the supermarket and food service industries. The entire Horizon Bradco and Bake-Rite organization is committed to selling and maintaining the highest quality commercial and industrial food preparation equipment to its many customers every day, which is an ideal environment to step into."
About Hamilton Robinson Capital Partners
Hamilton Robinson Capital Partners was founded in 1984 to invest directly in small, privately held manufacturing, distribution and service businesses. The firm has maintained its singular focus on this dynamic market to become a valued resource for equity capital and growth strategies for small businesses. Based in Stamford, CT, the firm has completed over $1.2 billion in transactions supporting 38 companies. Investors include leading financial institutions, funds, family offices, and individuals in the United States and Europe.