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Warburg Pincus Completes Acquisition of Enodis Global Ice Machine Business From The Manitowoc Company

Posted on: Monday, 18 May 2009, 08:00 CDT

New Holding Company To Be Named Scotsman Industries, Inc.

VERNON HILLS, Ill., May 18 /PRNewswire/ -- Scotsman Industries, Inc.-- The Enodis global ice machine business today announced the completion of its sale to affiliates of Warburg Pincus, a leading global private equity firm.

With more than 50 years of history in the commercial ice machine and refrigeration business, Scotsman Industries, Inc. will become the official name of the new holding company for all of the assets of the former Enodis global ice machine business including six factories in the USA, Italy and China. All of the company's brands, which include Scotsman, Ice-O-Matic, Simag, Barline, Icematic, Tecnomac and Oref, will continue to operate as they have in the past, with no change to sales, distribution and service.

"This is an important day in the history of our company," said Scotsman Industries' Chairman and CEO, David McCulloch. "We are excited about the purchase of the company by Warburg Pincus and we look forward to partnering with their highly experienced team to take our company to the next level."

"With the acquisition of Scotsman Industries now completed, Warburg Pincus has the opportunity to work with a strong management team that has created a global leader in commercial ice machines. This is a company with an extensive stable of brands and products that are well positioned for the future, and we look forward to helping management maintain the company's leading market position and expand the business even further," said David Barr, managing director of Warburg Pincus.

About Scotsman Industries, Inc.

Scotsman Industries, Inc. is the largest global manufacturer of commercial ice machines with related products including storage bins, ice and water dispensers, industrial ice machines, high-end residential ice machines, blast chillers and commercial refrigeration units. The company distributes its products in more than 100 countries to a range of end market customers that include quick-serve and full service restaurants, hotels and hospitality venues, health care facilities, food retailers, and education, government and military facilities.

Warburg Pincus

Warburg Pincus is a leading global private equity firm. The firm has more than $25 billion in assets under management. Its active portfolio of more than 100 companies is highly diversified by stage, sector and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 12 private equity funds which have invested more than $29 billion in approximately 600 companies in 30 countries. The firm has offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, Shanghai and Tokyo. For more information, please visit www.warburgpincus.com.

Media Contact: Alexandra Ames at (212) 885-0608 or alexandra.ames@hillandknowlton.com

SOURCE Warburg Pincus

Source: PR Newswire

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