OAKBROOK TERRACE, IL – March 9, 2023 – Prairie Capital Advisors, Inc. (“Prairie”) is pleased to announce that Empire Group (“Empire”), a portfolio company of PNC Riverarch Capital (“PNC Riverarch”) has acquired Foxx Equipment Company (“Foxx Equipment” or the “Company”). Prairie acted as exclusive financial advisor in this transaction to Foxx Equipment and was led by Anthony Dolan and Dan DeLap of Prairie. Terms of the transaction were not disclosed.
Founded in 1956, Foxx Equipment, a partially ESOP-owned company, is a value-added distributor of specialty beverage dispensing equipment with an industry-wide reputation for superior quality, reliability, and customer service throughout the U.S. Today, operating from its headquarters in Kansas City, MO with a second location in Denver, CO, the Company continues its dedication to providing beverage dispensing equipment, consumables and related parts. Foxx Equipment’s products are designed for beer, soda, wine, liquor, coffee and tea to a diverse customer base ranging from craft breweries to multi-national bottlers, restaurants and wineries. Additionally, the Company fabricates and designs custom beverage equipment such as panels, metal sheet towers and drain trays providing a “one-stop-shop” experience for its customers.
A portfolio company of PNC Riverarch, Empire is a wholesale distributor of commercial foodservice equipment and OEM parts, headquartered in Raleigh, NC. With seven locations, Empire serves a variety of end markets including foodservice dealers, service organizations, buying groups and national chain accounts. Empire supports over 5,500 customers with strong technical expertise and national fulfillment capabilities. Based in Pittsburgh, PA, PNC Riverarch is a middle-market private equity firm investing in middle-market companies headquartered in North America.
“Foxx Equipment’s supportive sales staff, extensive product range and expertise, and dedication to customer satisfaction made it a highly desirable and strategic fit with Empire. We believe Empire and PNC Riverarch will be supportive partners with a complementary go-to-market strategy focused on growth and customer satisfaction,” said Anthony Dolan, Managing Director at Prairie. “This transaction represents another successful engagement completed by Prairie’s Investment Banking group as we continue our dedication to serving middle-market family and ESOP-owned businesses,” added Dan DeLap, Vice President at Prairie.
About Prairie Capital Advisors
Prairie offers investment banking, ESOP advisory, valuations & opinions and financial reporting valuations to support the growth and ownership transition strategies of middle-market companies. Headquartered in Oakbrook Terrace, Illinois, the company is a leading advisor to closely-held companies nationwide. For more information, visit www.prairiecap.com.
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Prairie Capital Advisors, Inc.