Standex Refrigerated Solutions Group (RSG) will sell its Master-Bilt and Nor-Lake refrigeration businesses to Ten Oaks Group, a family office focused exclusively on corporate divestitures. The closing is expected to occur in the next 45 days, per a Standex release announcing the deal.
As part of an assessment of its business portfolio, Standex determined the manufacturer’s Refrigerated Solutions Group, specifically the Master-Bilt and Nor-Lake lines, no longer aligns with its long-term strategy. This review was a thoughtful one in which a variety of factors were carefully weighed and ultimately a decision was made to pursue a sale.
Until the sale is complete, Standex RSG will remain focused on business as usual, “working with our customers and channel partners to retain and grow opportunities for Master-Bilt and Nor-Lake,” per a release announcing the transaction.