BDO Capital Advises Fire & Ice Holdings, Inc. on the sale to a newly formed ESOP

Atlanta, GA – 08/31/2022 – BDO Capital Advisors, LLC (BDO Capital) is pleased to announce that Fire & Ice Holdings, Inc. (Fire & Ice, or the Company) has sold 100 percent of the stock to the newly formed Fire & Ice Holdings, Inc. Employee Stock Ownership Plan (ESOP). BDO Capital served as the exclusive financial advisor to Fire & Ice on this transaction, which included raising senior debt to partially finance the ESOP purchase. This builds on BDO Capital’s experience working with founder-led companies in niche service industries, including government contractors. Blake Head, Managing Director, and Justin Tu, Director, led the client engagement for BDO Capital.

Fire & Ice is the holding company of R&G Food Services, Inc. dba Latitude Catering, which provides national mobile food services to government entities and municipalities; Alaska Arctic Catering & Support Services, which provides food and lodging services in remote areas; and World Dining, LLC, which specializes in cafeteria food services. Fire & Ice is headquartered in Tucson, Arizona. Through its three wholly owned subsidiaries, the company is well-diversified across the food service industry, including emergency and disaster related mobile food services, remote base camps in Northern Alaska, and Fortune 500 clients. The sale to an ESOP will allow Fire & Ice to continue operating independently while enjoying the tax benefits afforded to S corporation ESOPs and sharing future value with its employees. Founder Jay Moulton along with the current management team will continue to lead the company.