Canopy Capital Partners and Source Capital Announce a New Platform Acquisition – Archway Service Group; Appoint James Morgan as President

Tampa, FL, May 15th, 2025 — Canopy Capital Partners (“Canopy” or “CCP”), a Tampa-based private equity firm focused on the lower-middle market, is pleased to announce that it, along with Source Capital and other co-investors, has acquired Archway Service Group, LLC (“Archway Service” or “Archway”).

Headquartered in Shelby, NC and founded in 2008, Archway is a leading provider of both on-call repair and preventative maintenance services for commercial foodservice equipment across bakery, deli, meat, and produce departments for many of the leading retail grocery chains throughout the Southeastern U.S. Archway’s comprehensive service offering also includes sharpening and replacement of band saw blades, grinder plates, and knives, as well as the replenishment of food grade oil and other essential cutlery supplies.

In conjunction with the acquisition, Canopy is pleased to announce the appointment of James Morgan as President, effective immediately. Mr. Morgan joins Archway with over thirty years of operations experience in various service-related organizations and has served in various leadership positions within the commercial foodservice equipment industry for the last twelve years. Mr. Morgan’s proven track record of fostering growth and operational excellence will be instrumental in guiding the Company toward its next chapter of growth.

“We are thrilled to welcome Archway into the Canopy family,” said Scott Long, Managing Partner at Canopy. “This acquisition, made possible through our partnership with Source Capital, strengthens our ability to invest in the team, technology and additional service capabilities to better serve our customers. With James Morgan stepping into the role of President, we are confident in our leadership to drive this vision forward.”

Canopy Capital Partners partnered with Source Capital on the transaction and was represented by Hill Ward Henderson LLP and Blue River Financial Group.

About Canopy Capital Management, LLC

Investing since 2015, Canopy Capital Partners (“Canopy”) is a private equity investment firm based in Tampa, Florida. Canopy partners with management teams and companies experiencing generational ownership transfers in lower-middle market management buyouts, recapitalizations and growth equity investments. Canopy invests in companies with at least $10 million of revenue and $2 million of pre-tax earnings. For more information, please visit the firm's website at www.CanopyCP.com.

About Source Capital

Source Capital is an Atlanta, GA-based private investment firm that has been providing flexible equity and debt capital to lower middle market companies for over 20 years. The firm has a value-added investing approach that brings (i) patient capital focused on long-term value creation; (ii) collaborative partnerships with management teams, founders/owners, private equity investors and independent sponsors; and (iii) strategic and operational resources to its portfolio companies. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team or visit www.source-cap.com.