Italian foodservice equipment manufacturer ALI Group SpA announced its entry into a definitive agreement to buy Scotsman Industries Inc from US private equity major Warburg Pincus LLC.
The parties did not volunteer any information on financial terms or other deal specifics. Brookwood Associates LLC and Alston & Bird LLP were involved in the transaction as advisors to ALI, while Willkie Farr & Gallagher LLP provided counsel to Scotsman Industries.
The Illinois-headquartered target has been operating as Scotsman Industries since May 2009, when Warburg Pincus bought the Enodis Ice Group and changed its name. The company specialises in the manufacture of commercial ice machines and claims to be the global leader in its field. Scotsman Industries sells its products in over 100 countries through a network of more than 1,000 distributors. The company has six manufacturing facilities and employs more than 800 people.
Luciano Berti, chairman and CEO of ALI, said that his organisation was excited at the prospect of adding Scotsman Industries to its family. This acquisition is a strategically important move on ALI’s part because it will enhance the company’s leading position among commercial foodservice equipment suppliers.
Given Scotsman Industries’ market leadership in the ice machine business, ALI will also be able to seize new opportunities and strengthen its capabilities to serve customers. The deal will bring in very well-known brands, which will help ALI enhance its global presence and visibility, Berti stated.