A commercial refrigeration manufacturer has acquired a company specializing in the onsite refurbishment of refrigerator and freezer cases. Anthony, a portfolio company of Los Angeles-based investment firm Aurora Capital Group, and a manufacturer of specialty glass, commercial glass refrigerator and freezer doors, case lighting, display and merchandising systems, announced it has completed the acquisition of and partnership with Trausch Industries, a portfolio company of the Edgewater Funds, a Chicago-based private equity firm.
In a press release, Trausch was described as the creator of “reskinning,” the onsite refurbishment of refrigerator and freezer cases. “Reskinning provides new exterior and interior surfaces for store display cases and can be accomplished with no store downtime, making it an extremely efficient, cost-effective, and popular option for retailers,” the statement said.
Jeffrey Clark, chief executive officer of Anthony, said, “The acquisition of Trausch is a transformational event for our company and the commercial refrigeration industry. This transaction creates new opportunities to leverage the strengths of our complementary products and customer relationships. Trausch’s unmatched reskinning and parts capabilities greatly transform Anthony’s business profile towards a one-stop-shop for customers.”
Susannah Kim, director of marketing at Anthony, said, “This combination with Trausch will propel Anthony forward as the ideal partner for our grocery customers. Our company’s expansion into reskinning is a logical step in better servicing our retail customers who want to be smart about managing their equipment and resources.”
She added, “A recent study conducted by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) concluded that there is no negative impact on sales as a result of closing refrigerated cases with glass doors. We are confident that Anthony is positioned to take the lead in helping retailers close their refrigerated cases for a potential $1 billion in energy savings across the industry.”
Anthony said it expects to maintain Trausch’s headquarters in Audubon, Iowa.
Publication date: 04/12/2010
Trausch Acquired by Anthony
April 12, 2010