Ali Group To Acquire Scotsman Industries From Warburg Pincus
Milan, Chicago and New York – November 6, 2012 – The ALI Group, a leading global designer, manufacturer, marketer and servicer of a broad line of commercial and institutional foodservice equipment, today announced it had reached a definitive agreement to acquire Scotsman Industries, the largest commercial ice machine company in the world, from an affiliate of Warburg Pincus. Terms of the transaction were not disclosed.
Luciano Berti, ALI Group’s Chairman and Chief Executive Officer, stated: “We are very pleased to welcome Scotsman into the ALI Group. The Scotsman acquisition is strategically important to our Group as it strengthens our position as leader in the global commercial foodservice equipment industry. Scotsman’s leadership in the ice machine sector opens for the ALI Group new opportunities and adds a new dimension to our ability to serve the foodservice equipment market. The addition of very strong and well recognized brands to those of the Group increases ALI’s global presence and visibility.”
“We are excited to join the ALI Group and look forward to working closely with Luciano and Filippo Berti and the rest of the management team to expand their extensive offering to the food service industry,” said Scotsman Industries’ Chairman and Chief Executive Officer, David McCulloch. “I’d also like to thank Warburg Pincus for their partnership in helping us grow our business and solidify our leadership position in the commercial ice machine industry.”
“David and the Scotsman management team have built a terrific business and we are proud to have been associated with them. We are pleased that they will be joining forces with the ALI Group, a world-class provider in the foodservice equipment industry, which will enable them to build on their success,” added Warburg Pincus’ Managing Director, David Barr.
Advisors
Brookwood Associates acted as financial advisors to the ALI Group. Alston & Bird acted as legal advisors for the ALI Group. Willkie Farr & Gallagher acted as legal advisors to Scotsman Industries.
