ALI GROUP TO ACQUIRE SCOTSMAN INDUSTRIES
FROM WARBURG PINCUS
Milan, Chicago and New York –
November 6, 2012 – 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
industry 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
“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.
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.
About ALI Group
The ALI Group is an Italian
corporation with its headquarters located in Milan, Italy. The company, through
its subsidiaries, designs, manufactures, markets and services a broad line of
commercial and institutional foodservice equipment used by major restaurant and
hotel chains, independent restaurants, hospitals, schools, airports,
correctional institutions, canteens, etc.
The Group employs over 7,000
people in 24 countries and, in terms of sales, is one of the world’s two
largest groups in this industry. It has 48 manufacturing facilities in 14
countries and sales and service subsidiaries in Europe, North America, Russia,
Japan, China, the Middle East, Australia and New Zealand.
About Scotsman Industries
With five manufacturing
facilities, over 800 employees, 10 major sales offices, 1,000-plus
distributors, more than 5,000 service technicians and sales in over 100
countries, Scotsman Industries Inc. is the largest commercial ice machine
company in the world.
About Warburg Pincus
Warburg Pincus is a leading
global private equity firm with more than $30 billion in assets under
management. Its active portfolio of more than 125 companies is highly
diversified by stage, sector and geography. Warburg Pincus is an experienced
partner to management teams seeking to build durable companies with sustainable
Founded in 1966, Warburg Pincus
has raised 13 private equity funds which have invested more than $35 billion in
over 650 companies in more than 30 countries. The firm is headquartered in New
York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London,
Luxembourg, Mauritius, Mumbai, San Francisco, Sao Paulo and Shanghai. For more
information, please visit www.warburgpincus.com.
ALI Group North America
Ed Trissel / Jeff Smith