KPS Global Formed Through Acquisition of Hill Phoenix’s Walk-Ins Business and Kysor Panel Systems
Combination creates major walk-in refrigeration unit company
NEW YORK — D Cubed Group LLC, a private market investment group, announced that it has acquired Hill Phoenix’s Walk-Ins business from Dover Corp. and Kysor Panel Systems from The Manitowoc Company Inc. The two transactions create a new, private refrigeration company named KPS Global, headquartered in Fort Worth, Texas, with combined annual revenues of over $200 million (of which $95 million is from Hill Phoenix’s Walk-Ins business) and more than 600 employees. D Cubed is joined in the acquisition by other industry veterans, strategic investment partners, and the KPS Global management team.
“This transaction recognizes the strength of two industry leaders with similar product lines and customer-oriented sensibilities,” said Glenn Kaufman, managing director of D Cubed, who has been involved with the retail and foodservice industries for almost 20 years. “The walk-in industry has never had a singularly focused and independent company with the level of committed financial and human resources as exists in KPS Global.