Scotsman Industries Inc., Vernon Hills, Ill., the Enodis global ice machine business from the Manitowoc Company, has been acquired by Warburg Pincus, a leading global private equity firm.
With more than 50 years of history in the commercial ice machine and refrigeration business, Scotsman Industries Inc. will become the official name of the new holding company for all of the assets of the former Enodis global ice machine business, including six factories in the U.S., Italy and China. All of the company’s brands, which include Scotsman, Ice-O-Matic, Simag, Barline, Icematic, Tecnomac and Oref, will continue to operate as before, with no change to sales, distribution and service.
“This is an important day in the history of our company,” said David McCulloch, Scotsman Industries’ chairman and CEO. “We are excited about the purchase of the company by Warburg Pincus and we look forward to partnering with their highly experienced team to take our company to the next level.”
“With the acquisition of Scotsman Industries now completed, Warburg Pincus has the opportunity to work with a strong management team that has created a global leader in commercial ice machines,” said David Barr, managing director of Warburg Pincus. “This is a company with an extensive stable of brands and products that are well positioned for the future, and we look forward to helping management maintain the company’s leading market position and expand the business even further.”
Scotsman Industries held a press conference at the National Restaurant Association show in Chicago on May 16 to announce and answer questions about the acquisition.