Brown Gibbons Lang & Company (BGL) has sold Arctic Industries and Store It Cold, a portfolio company of Stoic Holdings, to Kinzie Capital Partners LP, a private equity firm based in Chicago. BGL's Industrials and Engineered Equipment team served as the exclusive financial advisor to Arctic Industries and Store It Cold in the transaction. The specific terms of the transaction were not disclosed.
With locations in Miami, Florida, and Los Angeles, California, Arctic is a manufacturer and distributor of engineered walk-in coolers, freezers, and insulating enclosures serving the foodservice, commercial, industrial, healthcare, hospitality, agriculture, and home use markets. The company also owns the intellectual property of and sells CoolBot®, a highly innovative technology solution for agriculture, hunting, floral, and home use walk-in refrigeration.
The acquisition is expected to position Arctic for substantial growth in a fragmented market with an opportunity to leverage its bi-coastal manufacturing capabilities to grow market share and expand relationships with leading national foodservice dealers and end users, in addition to adjacent product categories, including HVAC enclosures, environmental test chambers, and other cold storage solutions.
