Bowstring advises AutoQuotes on its recapitalization with Luminate Capital Partners

December 4, 2018 | Atlanta, GA

Bowstring Advisors (“Bowstring”), formerly CHILDS Advisory Partners, served as the exclusive financial advisor to AutoQuotes, Inc. (“AutoQuotes”), the leading technology company for the foodservice equipment and supplies industry, on its majority recapitalization with Luminate Capital Partners (“Luminate”).

AutoQuotes’ software platform helps foodservice equipment manufacturers and their dealers share information to market, configure and quote equipment and supplies effectively to the end customer. AutoQuotes enables companies to position their products at the point of purchase and their dealers to provide value added services in the design of commercial kitchens and configuration of equipment. The AutoQuotes platform consists of over 700 manufacturers and all of the top 100 dealers in North America, generating over $70 billion worth of quotes annually. AutoQuotes has become the CPQ (Configure, Price, Quote) standard for the industry through 28 years of working closely with customers to meet their evolving needs.

Kate Schmidt, Chair of the Board of Directors of AutoQuotes, commented, “Bowstring’s detailed approach to working with us and our team was highlighted during every part of the transaction. The team went to great lengths to understand us, our company, our product and our value proposition; they also made sure it was continuously reinforced. Bowstring’s unwavering support gave us the confidence they would successfully market our company, and it’s fair to say they exceeded our expectations. Bowstring made an intimidating process seem simple and we are grateful for their involvement every step of the way.”

Scott Rhodes, Managing Director and head of Bowstring’s Software practice, added “We truly enjoyed advising the Board and management on this transaction and are excited to see how the investment from Luminate will enable AutoQuotes to accelerate its growth and leadership position. We are pleased that the Motes family will stay involved through its continued ownership and representation on the Board of Directors.”

Sanjay Palakshappa, Principal at Luminate, stated “We want to thank Bowstring for giving us the opportunity to invest in the business. Bowstring knew that AutoQuotes was an ideal fit for Luminate’s investment strategy, given our focus on mission critical software applications and our experience in the foodservice industry. We’re thrilled to partner with the Motes family to support the ongoing growth of the business by providing additional solutions and services to both manufacturers and dealers.”

“Bowstring’s detailed approach to working with us and our team was highlighted during every part of the transaction. The team went to great lengths to understand us, our company, our product and our value proposition; they also made sure it was continuously reinforced. Bowstring’s unwavering support gave us the confidence they would successfully market our company, and it’s fair to say they exceeded our expectations. Bowstring made an intimidating process seem simple and we are grateful for their involvement every step of the way.”

Kate Schmidt
Chair of the Board of Directors
AutoQuotes