PPC Advises Kitchens To Go on Sale to McGrath RentCorp

Promontory Point Capital is excited to announce another one of our firm's recent client successes.

Based in suburban Chicago, Kitchens To Go is a leader in providing interim and permanent food service facilities and equipment to companies seeking to continue or expand commercial kitchen operations. Leading small to complex projects encompassing mobile, modular, and containerized commercial kitchen rental units, KTG provides alternatives that keep foodservice operations uninterrupted across a variety of market sectors including hospitality, restaurant, educational institutions, healthcare & senior living facilities, and governmental agencies, amongst others. KTG has established a strong industry reputation for its ability to provide either interim commercial kitchen facilities via short-term leasing solutions or permanent kitchen facilities through the design & production of custom-built modular buildings.

Led by an ownership group comprised of foodservice industry experts, Promontory Point Capital was engaged by KTG to explore shareholder liquidity and strategic alternatives for the business. Once engaged, PPC researched a large set of potential acquirers and subsequently marketed the Kitchens To Go business to a targeted audience encompassing both domestic & international strategic buyers, as well as private equity firms with prior industry experience. After soliciting preliminary offers from multiple interested parties, PPC helped KTG negotiate a Letter of Intent with McGrath RentCorp (NASDAQ: MGRC), a diversified business-to-business rental company that includes Mobile Modular, one of the nation's largest providers of modular buildings. PPC managed the entire due diligence process and assisted in closing the transaction between KTG and MGRC during April of 2021 representing another successful Done Deal for our firm.

Promontory Point Capital is a Milwaukee-based investment banking firm focused on the needs of Midwestern privately-held businesses. Since being formed in 2004, our firm has led over 150 client engagements including the evaluation of business sale and recapitalization options, the arrangement of debt and equity financing, and the planning and execution of growth strategies involving acquisitions, mergers, and joint ventures. Many inquiries to Promontory Point Capital include business objectives encompassing:

Ownership Planning, including Transition & Liquidity Goals: We are frequently introduced to owners or senior management teams when owners are interested in learning about their options involving a potential sale of all or a portion of their business. We have arranged transactions involving strategic partners, private equity firms, ESOPs, management buyouts, and other types of shareholder “recaps” including both minority and majority recapitalizations.

Financing, Refinancing, & Debt Restructuring: A company may have either short-term or long-term funding needs that are beyond the comfort zone of its existing senior bank lender. PPC arranges capital for companies including senior bank debt, non-bank debt, subordinated debt, sale-leaseback, and other forms of institutional funding to fund growth, acquisitions, shareholder redemptions, management buyouts, and other corporate purposes.

Strategic Growth/M&A: A company may have an interest in growing and expanding by acquisition or strategic joint venture and wish to have an initial conversation regarding their strategic growth objectives.

We welcome your confidential inquiry and encourage you to visit our firm's new website at

www.promontorypointcapital.com for more information on our organization's capabilities and numerous other client successes.