Audax Private Equity has sold Cozzini Bros. to Birch Hill Equity Partners
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Cozzini Bros., Inc. (“Cozzini” or the “Company”), a portfolio company of Audax Private Equity (“Audax”), has been acquired by Birch Hill Equity Partners (“Birch Hill”). Terms of the transaction were not disclosed.
Headquartered in Des Plaines, Illinois, Cozzini is the leading knife sharpening rental and exchange company in the United States, providing cutlery and other sharpening services to over 40,000 restaurants, grocery stores, institutional kitchens and other foodservice establishments nationwide. Since 2010, the Company has completed 31 acquisitions, expanding its serviceable geography into the Mid-Atlantic, Pacific Northwest and Southeast. Through unmatched national expansion, Cozzini has partnered with leading restaurant chains and become the only provider able to service large national accounts.
Ed Finnegan, CEO of Cozzini, commented, “Lincoln took the time to really understand our business so they could articulate the value proposition and growth characteristics to buyers, preparing first class marketing materials and generating incredible enthusiasm in the private equity community for Cozzini.”
Keith Palumbo, Managing Director, at Audax added, “Lincoln did an excellent job working seamlessly with the Audax and Cozzini teams from start to finish on this transaction, delivering senior-level attention at every stage. They ran a disciplined, highly competitive process which resulted in multiple attractive alternatives for the shareholders and the Cozzini management team.”
Mr. Finnegan expressed Cozzini’s excitement to partner with Birch Hill, stating, “We are thrilled to partner with Birch Hill as we embark on the next phase of our growth and are grateful to our friends at Audax for their tremendous support.”
Lincoln acted as the exclusive financial advisor to Cozzini, working closely with its shareholders and management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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