Houlihan Lokey Advises Leonard Green & Partners

Houlihan Lokey is pleased to announce that Leonard Green & Partners, LP, has made a significant investment in Parts Town. Existing investor Berkshire Partners will retain its majority stake in Parts Town, reinvesting alongside the Parts Town management team and Leonard Green. Houlihan Lokey served as the buyside financial advisor to Leonard Green.

Leonard Green is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, Leonard Green has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, healthcare, and business services as well as retail, distribution, and industrials.

Parts Town is the leading, technology-enabled global distributor of genuine OEM (original equipment manufacturer) parts for the foodservice industry. Driven by its commitment to technology and innovation, Parts Town is expanding to serve new segments, including HVAC and residential appliance parts. When there’s a hiccup for any foodservice provider or service technician company, Parts Town is ready to jump in and help with the most in-stock parts on the planet, innovative technology, and an unmatched customer experience. Its customized solutions benefit foodservice operators, service companies, and a growing list of other customer segments. Partnering with more than 1,100 leading manufacturers, Parts Town improves the supply chain, increases sales of genuine OEM parts, and keeps every customer’s business running like clockwork.

Berkshire Partners, a Boston-based firm, has 35 years of investment history. Berkshire Private Equity has made more than 135 private equity investments since its inception and has a strong history of partnering with management teams to grow the companies in which it invests. Stockbridge, the firm’s public equity business, was founded in 2007 and seeks to make public equity investments in high-quality companies with strong competitive positions and long-term growth prospects. The firm has partnered with high-potential businesses for many decades, focusing on the technology, services, industrials, consumer, communications, and healthcare sectors.

Houlihan Lokey's Specialty Distribution team has earned a reputation for working with premier specialty distribution clients, providing superior client service, and delivering outstanding results. This transaction highlights our deep sector expertise and continued success advising leading buyers and sellers in the value-added distribution space, including our ability to deliver significant value to sophisticated private equity clients on the buyside.