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Hill Phoenix Acquisition

CONYERS, Ga. - Hill Phoenix Inc. acquired certain assets and intellectual property of Tyler Refrigeration, a unit of Carrier Corp. Financial terms of the transaction were not released. Under the terms of the transaction, Hill Phoenix has purchased select equipment and other physical assets, order backlog, intellectual property, and the service parts business of Niles, Mich.-based Tyler Refrigeration, a manufacturer of refrigerated display merchandisers and refrigeration systems for the food retail industry.

In addition, the company has also purchased Tyler’s five service and installation branch businesses located in New Jersey, Minnesota, Arizona, Southern California, and Mexico. Tyler’s manufacturing facility in Niles is not part of the transaction.

“Because the focus of our strategy is to grow our business and better serve our customers, this acquisition is an excellent strategic fit for Hill Phoenix,” said Bill Johnson, Hill Phoenix president and CEO. “It enhances our long-standing efforts to provide Hill Phoenix customers industry-leading products with proprietary technology, intellectual capital, and key employee additions that will allow us to expand engineering, field support, and other customer related functions.”

With Carrier retaining ownership of the Niles facility, new Tyler products will no longer be available. Both companies are working to ensure a smooth transition with minimal interruption of scheduled shipments to customers. All orders that were entered on or before April 30 and are scheduled to ship on or before July 31 will be produced at the Niles facility and shipped according to schedule. In addition, Hill Phoenix will produce service parts for existing Tyler-installed display cases, and service and installation from the branches will continue uninterrupted.

Hill Phoenix will be meeting directly with customers and dealers over the coming weeks to be certain their specific concerns are addressed and that their needs are met.

For more information, visit www.hillphoenix.com.

Publication date: 05/18/2009

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