"The oversight and guidance provided by PPC was very helpful in assisting KTG's ownership through the sale process to a successful conclusion. We are excited for the next chapter in KTG's story as our business joins McGrath RentCorp." Steve Rubin, Fred Stowell, and Ralph Goldbeck Founding Shareholders Kitchens To Go
Promontory Point Capital is excited to announce another one of our firm’s recent client successes.
Based in suburban Chicago, Kitchens To Go is a leader in providing interim and permanent food service facilities and equipment to companies seeking to continue or expand commercial kitchen operations. Leading small to complex projects encompassing mobile, modular, and containerized commercial kitchen rental units, KTG provides alternatives that keep foodservice operations uninterrupted across a variety of market sectors including hospitality, restaurant, educational institutions, healthcare & senior living facilities, and governmental agencies, amongst others. KTG has established a strong industry reputation for its ability to provide either interim commercial kitchen facilities via short-term leasing solutions or permanent kitchen facilities through the design & production of custom-built modular buildings.
Led by an ownership group comprised of foodservice industry experts, Promontory Point Capital was engaged by KTG to explore shareholder liquidity and strategic alternatives for the business. Once engaged, PPC researched a large set of potential acquirers and subsequently marketed the Kitchens To Go business to a targeted audience encompassing both domestic & international strategic buyers, as well as private equity firms with prior industry experience. After soliciting preliminary offers from multiple interested parties, PPC helped KTG negotiate a Letter of Intent with McGrath RentCorp (NASDAQ: MGRC), a diversified business-to-business rental company that includes Mobile Modular, one of the nation’s largest providers of modular buildings. PPC managed the entire due diligence process and assisted in closing the transaction between KTG and MGRC during April of 2021 representing another successful Done Deal for our firm.
Christopher Riegg is an investment banking professional with over three decades of experience providing strategic and financial guidance to business owners and executives. As a partner at Promontory Point Capital, Christopher Riegg has worked with over 200 companies across various industries, including manufacturing, distribution, technology, and services. His focus areas include mergers and acquisitions, debt restructuring, recapitalization, and private equity capital.
PROMONTORY POINT CAPITAL
MILWAUKEE
Chris Riegg
Partner
[email protected]
Bill Penkwitz
Partner
[email protected]