ELGIN, Ill. -- The Middleby Corp. is investing in the internet of things. The equipment manufacturer has acquired Powerhouse Dynamics Inc., a provider of cloud-based solutions that allow retailers and foodservice operators to remotely control systems and gather data on their operations.
The Newton, Mass.-based company will operate as an autonomous business unit in the Middleby portfolio.
The companies did not disclose the terms of the transaction.
Powerhouse’s SiteSage platform connects, monitors, analyzes and controls foodservice equipment footprints, allowing retailers to tightly oversee food safety, labor and energy usage.
“This acquisition significantly enhances Middleby’s [internet of things] capabilities and expands the offerings to our customers as they evolve the management of their operations through remote, connected and data-driven solutions,” said Tim FitzGerald, CEO of Middleby.
Powerhouse’s product will supplement the Elgin, Ill.-based company’s Middleby Connect platform, an internet-of-things solution that helps operators manage menus and track equipment servicing and functionality.
“The combination of Middleby Connect and SiteSage will allow for a single comprehensive solution we can provide to improve efficiencies and manage a broad set of operating issues tailored to our restaurant customers’ needs,” FitzGerald said.
This is the Middleby’s third acquisition of 2019. In March, the company announced its pending acquisition of the Cooking Solutions Group from Allen, Texas-based Standex International Corp. In January, it acquired EVO America, a Tualatin, Ore.-based ventless cooking-equipment manufacturer. In 2018, Middleby acquired businesses including commercial soft-serve and beverage equipment manufacturer Taylor Co., Rockton, Ill., and JoeTap, an Annapolis, Md.-based nitro-brew equipment supplier.
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