WASHINGTON, DC (August 16, 2023) – HCI Equity Partners, a leading lower-middle-market private equity firm, today announced that four of their portfolio companies have been featured on Inc. 5000’s 2023 list of fastest growing companies. The recognized platforms include MSI Express, Tech24, AmerCareRoyal and Consolidated Hospitality Supplies. The Inc. 5000 list provides a data-driven look at the most successful companies within the economy’s most dynamic segment—entrepreneurial businesses. Together, those companies also added more than 1.1 million jobs over the past three years.
MSI Express is a leading contract manufacturer and packager focused on shelf-stable foods. MSI offers one of the broadest service and packaging offerings in the market to include dry mixing and blending, flexible pouches and sachets, liquid blending, and filling, stand cap pouching, canister filling, lidding, cup filling and pet food filling. Through three transformational acquisitions and significant organic growth, MSI’s revenue has increased 547%, while their employment increased 45% from 2019-2022.
Tech24 is a provider of installation, preventative maintenance and repair services for foodservice facilities across the US. The Company specializes in cooking, refrigeration, beverage and specialty foodservice equipment, as well as performs HVAC, electrical and plumbing services. Tech24’s revenue grew 125% from 2019 to 2022 through a combination of acquisitions and organic growth initiatives, while their employment increased 93%.
AmerCareRoyal is a leading supplier of disposable products for the foodservice, janitorial and healthcare markets in North America. With an established national footprint, the Company sells over 6,000 disposable items to a diverse customer base consisting of foodservice distributors, restaurant chains and other retail establishments. AmerCareRoyal’s revenue grew 102% from 2019 to 2022 through a combination of acquisitions and organic growth initiatives, while their employment increased 51%.
Consolidated Hospitality Supplies (“CHS”) is a multi-brand, shared-services hotel distribution company and a leading provider of operating supplies and equipment. The Company has a diverse product portfolio, offering over 3,600 different SKUs within categories that include bed and bath linens, guest care amenities, housekeeping supplies, in-room accessories, electronics and appliances and foodservice supplies. CHS offers unified distribution through two brands, American Hotel Register and Amtex. CHS’ revenue grew 96%, while their employment increased 104%.
“We are thrilled that over 25% of HCI’s platforms have been recognized by Inc. for achieving these transformational growth metrics,” stated Doug McCormick, Managing Partner and CIO of HCI Equity Partners. “Our team is honored to partner with the management teams of these four companies and the rest of our portfolio to support them in growing through both acquisition and organically. The results validate all of the hard work put in by the employees of these portfolio companies and the effectiveness of HCI’s investment strategy.”
To view the full list of winners and database, visit www.inc.com/inc5000.