Acquisitions

Middleby Acquires Powerhouse Dynamics, Inc

Apr. 02, 2019

The Middleby Corporation (NASDAQ: MIDD) today announced the acquisition of Powerhouse Dynamics, Inc., a leader in cloud-based IoT solutions for the foodservice industry.

Powerhouse pioneered the introduction of automated IoT solutions into the restaurant industry via their
leading and proven SiteSage platform, used by many major restaurant, convenience store, and retail
brands. The SiteSage platform connects, monitors, analyzes, and controls the restaurant equipment
footprint allowing operators to automate their facility to realize energy savings, improved food safety,
reduced labor costs, and operational consistency. The company is based in Newton, Massachusetts and
will continue to operate as an autonomous business unit in the Middleby family.


“This acquisition significantly enhances Middleby’s IoT 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 The Middleby Corporation. “SiteSage complements our existing
Middleby Connect IoT platform, which is available on many of our existing equipment technologies
facilitating our customers with menu management, servicing of equipment and operational monitoring.
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.”


More information on Powerhouse Dynamics is available at www.powerhousedynamics.com


More information on Middleby Connect is available at www.middlebyconnect.com