Source Capital, through an affiliate fund, is pleased to announce its investment in Archway Service Group, LLC ("Archway" or the "Company"), a repair and maintenance services provider for commercial foodservice equipment. Source provided debt and equity to support the acquisition of Archway by private equity sponsor Canopy Capital Partners ("Canopy").
Founded in 2008 and headquartered in Shelby, NC, Archway is a leading provider of repair and maintenance services for commercial foodservice equipment for many of the leading retail grocery chains throughout the Southeast. Archway's comprehensive service offering also includes sharpening and replacement of band saw blades, grinder plates, and knives, as well as the replenishment of food-grade oil and other essential cutlery supplies.
"We are excited to close our first investment with Canopy, which has a proven track record of partnering with lower middle market businesses in the Southeast", said Joe Rodgers, Managing Director at Source Capital. "Archway has built a great reputation in an industry with attractive tailwinds, and we look forward to partnering with Canopy to help scale Archway for the next phase of growth."
About Canopy Capital Partners
Investing since 2015, Canopy Capital Partners ("Canopy") is a private equity investment firm based in Tampa, Florida. Canopy partners with management teams and companies experiencing generational ownership transfers in lower-middle market management buyouts, recapitalizations and growth equity investments. Canopy invests in companies with at least $10 million of revenue and $2 million of pre-tax earnings. For more information, please visit the firm's website at www.canopycp.com.
About Source Capital
Source Capital is an Atlanta, GA-based private investment firm that has been providing flexible equity and debt capital to lower middle market companies for over 20 years. The firm has a value-added investing approach that brings (i) patient capital focused on long-term value creation; (ii) collaborative partnerships with management teams, founders/owners, private equity investors and independent sponsors; and (iii) strategic and operational resources to its portfolio companies. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team or visit www.source-cap.com.