The Manitowoc Company Announces Divestiture of Kysor Panel Systems Business
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Manitowoc (MTW) Announces ~$85M Sale of Kysor Panel Systems Business
December 7, 2015 8:11 AM ESTThe Manitowoc Company, Inc. (NYSE: MTW) announced that it has sold its Kysor Panel Systems business to an affiliate of D Cubed Group LLC, a private market investment firm, for a value of approximately $85 million, subject to certain adjustments for funded indebtedness, working capital, and capital expenditures. Kysor Panel Systems is a leading producer of wood frame and high-density rail panel systems for walk-in freezers and coolers for the retail and convenience-store markets.
The sale of Kysor Panel Systems furthers our strategy of focusing on our core brands within our Foodservice segment, while aligning... More
