MANITOWOC, WI – The Manitowoc Company, Inc., parent company of Manitowoc Foodservice, announced that it has signed a definitive agreement to sell the Enodis global ice machine operations to Braveheart Acquistion, Inc., an affiliate of Warburg Pincus Private Equity X, L.P., for $160 million. The deal with Braveheart Acquisition Inc. resulted in the sale of Scotsman, Ice-O-Matic, Simag, Barline, and other ice machine and related businesses operated by subsidiaries of Enodis plc. Manitowoc was required to divest the Enodis Ice Group as a condition of the U.S. Department of Justice’s and the European Commission’s clearance of the Enodis acquisition finalized on October 27, 2008. The sale is subject to the receipt of customary governmental and regulatory approvals and is expected to be completed in May 2009. Manitowoc Foodservice retains the Manitowoc® Ice brand, America’s number one selling ice machine. About Manitowoc Foodservice Manitowoc Foodservice, a division of The Manitowoc Company, Inc., designs, manufactures and supplies best-in-class food and beverage equipment for the global foodservice market. Manitowoc Foodservice offers customers unparalleled operator and patron insights, collaborative kitchen solutions, culinary expertise and world-class implementation support and service, whether locations are around the corner or across the globe. With operations in the Americas, Europe and Asia, the company has a portfolio of best-in-class brands including Cleveland, Convotherm®, Delfield®, Fabristeel, Frymaster®, Garland®, Jackson, Kolpak, Kysor/Warren®, Kysor Panel Systems®, Lincoln, Manitowoc®, Multiplex, Merrychef®, Servend and Scotsman® Beverage Systems. For more information visit www.manitowocfsusa.com About The Manitowoc Company, Inc. The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with over 100 manufacturing and service facilities in 27 countries. It is recognized as one of the world’s largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world’s leading innovators and manufacturers of commercial foodservice equipment as described above. |
