Aurora Capital Group Acquires Restaurant Technologies, Inc.
30 Apr, 2015, 10:10 ET
LOS ANGELES, April 30, 2015 /PRNewswire/ -- Aurora Capital Group ("Aurora"), a Los Angeles-based private equity firm with over $2 billion of assets under management, today announced that it has completed the acquisition of Minneapolis-based Restaurant Technologies, Inc. ("RTI"), the only national provider of an integrated cooking oil management solution to the foodservice industry, offering fresh oil delivery, used oil removal, and related services, from EQT Infrastructure Limited. Financial terms of the transaction were not disclosed.
"RTI is an excellent fit with Aurora's investment strategy and we look forward to partnering with Jeff Kiesel, RTI's CEO, and the entire RTI team," said Mark Rosenbaum, a Partner at Aurora. "RTI is the clear market leader in cooking oil management and we are excited to leverage Aurora's unique expertise and resources in supporting RTI in its next phase of growth."
Jeff Kiesel, CEO of RTI, said, "In Aurora, we have found a partner that enthusiastically shares our goals of growth, outstanding customer service and operational excellence and supports our long-term business plan. Aurora's expertise in owning and guiding market-leading companies will enable us to take RTI to the next level. I am proud of our 820 hard-working employees and their dedication to our customers and the RTI mission. I am confident they share my enthusiasm for the significant opportunities that lie ahead for our customers, our company and this partnership."
Gibson, Dunn & Crutcher LLP served as legal counsel to Aurora and General Electric Capital Corporation and Ares Capital Corporation provided debt financing for this transaction.
RTI is a Minneapolis-based company providing cooking oil management and distribution services to over 22,000 national restaurant chains, independent operators, grocery delis, universities, hospitals and other foodservice outlets. RTI currently operates 41 depots across the United States using a national fleet of specialized rolling stock and a sophisticated route management system. For more than 15 years RTI has helped the foodservice industry improve food quality and consistency, operational efficiency, safety, cleanliness and sustainability through the automated delivery, storage, handling and disposal of fryer oil. RTI has approximately 820 full-time employees. More information can be found on www.rti-inc.com
Aurora is a Los Angeles-based private investment firm managing over $2 billion of capital across several funds. Aurora's traditional private equity vehicle focuses principally on control investments in middle market businesses with leading market positions, strong cash flow profiles, and actionable opportunities for growth in partnership with operating management. Aurora was founded in 1991 and currently invests out of its fourth private equity fund.
More information can be found on www.auroracap.com.
Matthew Sherman / Julie Oakes
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Aurora Capital Group
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