Dual acquisitions lead to the formation of a new walk-in manufacturer.
Private equity firm D Cubed Group has acquired Hill Phoenix's Walk-Ins business from Dover Corporation and Kysor Panel Systems from The Manitowoc Company, Inc. The two transactions create a private company named KPS Global, headquartered in Fort Worth, Texas.
Jack Bowling, previously with Kysor Panel Systems, became the chief executive officer for KPS Global. "Our current focus is on the customer in the same way as these two teams have focused for many years," Bowling said. "Customer experience will not be interrupted and all of the same people will make sure exceptional service is delivered."
As part of the transaction, KPS Global assumes operation of five manufacturing and warehousing facilities. "Over time, our combined 500,000 square feet of manufacturing and warehousing capability will produce an interchangeable, highly engineered product," Bowling said.
According to a company release, Hill Phoenix and Kysor Panel Systems combined have more than $200 million in annual revenues and 600-plus employees.