Manitowoc (MTW) Announces ~$85M Sale of Kysor Panel Systems Business
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D Cubed Group Acquires Hill Phoenix’s Walk-Ins Business and Kysor Panel Systems Forming KPS Global
December 7, 2015 8:10 AM ESTAggregation and Privatization Forms Market Leading Walk-Ins Solutions Company
NEW YORK--(BUSINESS WIRE)-- D Cubed Group LLC, a private market investment group that invests in mid-size businesses on behalf of highly successful executives, announced today that it acquired Hill Phoenixs Walk-Ins business from Dover Corporation (NYSE: DOV) and Kysor Panel Systems from The Manitowoc Company, Inc., (NYSE: MTW). The two transactions create a new, private company named KPS Global, headquartered in Fort Worth, Texas, with combined annual revenues of over $200 million (of which... More
The Manitowoc Company Announces Divestiture of Kysor Panel Systems Business
December 7, 2015 8:00 AM ESTMANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) today 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... More
