The Legacy Companies Acquires Admiral Craft

Admiral Craft has been a leading manufacturer and distributor of equipment, smallwares, and supplies to the commercial foodservice industry for over 70 years and is known for brands such as AdCraft, Black Diamond, Grista, Lunar Ice, and U-Star sold by restaurant equipment dealers throughout North America. Admiral Craft hired Invision Capital for their deep financial expertise and M&A advisory experience with transactions in the foodservice equipment Industry. “Invision Capital was critical to helping us negotiate the best possible deal and navigate a challenging due diligence process. I don’t think we would have been able to close this transaction without the help of Eric Dunn and his team at Invision,” said Rick Powers, President and Owner of Admiral Craft Equipment Corp.

The Legacy Companies, headquartered in Fort Lauderdale, Florida, was founded in 1998 as two companies, Greenfield WorldTrade and Asbury Food Service. The Legacy Companies manufactures and designs products and foodservice equipment under the brands Avanti, Back to Basics, Blakeslee, Chef’sChoice, EdgeCraft, Excalibur, General, Greenfield World Trade, Maxx Cold, Maxx Ice, Maxx Scientific, Omega, Vinotemp, Vinturi, WestBend, Yonanas, and Zeroll. The purchase of Admiral Craft further increases Legacy's share and completeness of product offerings to the commercial foodservice industry. “Admiral Craft’s product offering is complementary to our existing businesses with the potential to further expand key account relationships and capitalize on cross-selling opportunities. With this acquisition, we are further enabled to align our efforts to provide best-in-class practices and products to the ever-changing foodservice industry,” said Legacy President, Neal Ashbury.

Invision Capital Advisors served as Admiral Craft’s Sell-Side Advisor. “Based on our knowledge of the industry, we knew this was a great strategic fit for both parties. Once we presented the true value of the deal to Legacy everyone worked together to make this deal a reality. I have a great respect for everyone on both sides of this deal,” said Eric Dunn, Managing Partner of Invision Capital Advisors.

Invision Capital Advisors (ICA) is a specialized Investment Bank and Merger & Acquisition Advisory Firm with over 100 years of combined M&A transaction experience. The firm was created to serve a specific niche in the marketplace that has been ignored or underserved by typical Investment Banks and M&A Advisors. ICA assists shareholders seeking growth equity, a complete sale of a business, or something in-between. The firm also helps businesses grow through targeted strategic acquisitions and provides customized solutions for special situations such as business partner transitions, ESOPs, or responding to unsolicited offers. Clients are typically in the Manufacturing, Distribution, or Business Services Industries with annual Revenues between $5 million and $250 million and/or EBITDA between $1 million and $25 million.

If you would like more information, please contact Chrislyn Castillo, Marketing Associate at 312-236-4600 or email at CCastillo@invcg.com.