Manufacturer Acquisition Closes Amid Industry Show

Cornerstone Foodservice Group, parent company of Spring USA, has expanded its portfolio with the acquisition of Equipex.

The deal was officially announced Monday, May 20, on Day 3 of the National Restaurant Association Show in Chicago. The Equipex portfolio includes panini grills, convection and pizza ovens, warming displays, waffle bakers, salamanders and other niche-focused cooking equipment. Equipex also offers Adventys cooking and warming induction equipment as well as SA Vents, a small appliance ventless hood system.

With the acquisition complete, the companies say they will look to offer additional strategic capabilities, product lines and service abilities.

“Combining the power and momentum of what our individual organizations have achieved over the last 25-plus years will strengthen our value proposition and kitchen equipment offering for the foodservice market both today and in the future,” says Kristine Holtz, CEO of Cornerstone Foodservice Group. “This investment is a testament to our dedication to providing a comprehensive solution for chefs, operators and foodservice professionals worldwide.”

Gary Licht, founder of Equipex, will continue with the company in a leadership role. Equipex also will continue to operate out of its facility in Providence, R.I.

CFG, based in Naperville, Ill., also includes the brands LloydPans, Astra Mfg. and Versa-Gard.