San Francisco Equity Partners (SFEP), a private equity firm focused exclusively on partnering with lower middle market companies across the consumer value chain, invested in Sales Concepts, Inc. and Donovan Food Brokerage, Inc. to form Xceed Foodservice Group.
“We formed Xceed to provide a differentiated level of service and results to our clients and other stakeholders on a larger scale. Our partner brokerages will continue to deliver the benefits of local expertise and regional focus to their clients, and through our partnership, will deliver access to an expanded set of relationships, markets, and resources,” says Darin Pounds, CEO of Xceed.
“We are excited to partner with the Xceed team to build a platform addressing underserved segments of the food manufacturing and foodservice operations space,” says David Mannix, partner at SFEP.
“The SFEP team shares our vision of building a foodservice brokerage of scale that enables client growth through demand generation at the operator level. Their experience building founder-driven businesses in the consumer value chain will be instrumental to us as we continue to develop Xceed’s footprint and services,” adds Jack Donovan, COO of Xceed.
Key takeaways:
- Sales Concepts and Donovan owners and industry veterans Darin Pounds, Josh Carnell and Jack Donovan retained equity stakes and will form the executive leadership team of the Xceed platform.
- Xceed was created to invest in and partner with leading regional independent brokerage companies focused on the foodservice ecosystem. Through its partner brokerages, Xceed will provide sales and marketing services to food suppliers and will continue to partner with additional best-in-class regional foodservice brokerages in complementary markets.
- Each of Xceed’s partner brokerages will retain its existing name, management team and personnel.
