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Freedom Electronics, a portfolio company of Summit Park, is pleased to announce the acquisition of ESCO Services, Inc. and ESCO Manufacturing, LLC, a provider of aftermarket refurbished electronic parts with locations in Michigan, Colorado, and Florida.
Founded in 1979, ESCO provides aftermarket refurbished electronic parts to distributors and service technicians, primarily serving the retail fueling and petroleum end markets. ESCO’s broad product offering, national presence, and excellent customer service have established ESCO as one of the premier providers of aftermarket electronic parts in the United States.
Freedom, headquartered in Kennesaw, Georgia, is a leading aftermarket provider of electronic components, such as printers, screens, and card readers, for use in convenience stores and fueling stations (“c-stores”) across the U.S. and Canada. The combination of Freedom and ESCO creates the largest supplier of new and remanufactured aftermarket parts in the retail petroleum industry.
Patrick Jeitler, CEO of Freedom, said, “ESCO is a very well-respected company with a long history. Both companies share the same values of providing outstanding customer service and a high level of urgency to our customers. We are confident that the combination will allow us to expand our relationships with many customers while allowing us to serve a much larger portion of their needs.”
Mike York, a Partner at Summit Park, added, “Freedom and ESCO are an exciting combination because it establishes a national platform with leading technical capabilities, expanded sourcing relationships, and a diversified product portfolio driving a better customer experience. We continue to be bullish on the aftermarket in the retail petroleum space and think adding ESCO to Freedom positions the business very well going forward.”
Summit Park, a lower middle market private equity firm, invested in Freedom in December 2018. ESCO is Freedom’s first acquisition.