Private Equity Firm Acquires Freezer Manufacturer
CLEVELAND — Arctic Industries and Store It Cold have been sold to Kinzie Capital Partners LP, a private equity firm based in Chicago.
The Industrials and Engineered Equipment team at Brown Gibbons Lang & Co. (BGL) served as the financial advisor to Arctic Industries and Store It Cold in the transaction, the terms of which were not disclosed.
With locations in Miami, Florida, and Los Angeles, California, Arctic is a manufacturer and distributor of engineered walk-in coolers, freezers, and insulating enclosures, serving the food service, commercial, industrial, health care, hospitality, agriculture, and home-use markets. The company also owns the intellectual property of and sells CoolBot, a highly innovative technology solution for agriculture, hunting, floral, and home use walk-in refrigeration.
The acquisition positions Arctic for substantial growth in a fragmented market with an opportunity to leverage its bi-coastal manufacturing capabilities to grow market share and expand relationships with leading food service dealers and end users, in addition to adjacent product categories, including HVAC enclosures, environmental test chambers, and other cold storage solutions, according to a press release from BGL.
Looking for quick answers on air conditioning, heating and refrigeration topics? Try Ask ACHR NEWS, our new smart AI search tool. Ask ACHR NEWS
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
