USA: Standex International has completed the sale of its Refrigerated Solutions Group to Ten Oaks Group. The $11m deal was first announced last month.
The Refrigerated Solutions Group includes Nor-Lake and Master-Bilt brand food service refrigerated cabinets and walk-ins.
A multi-industry manufacturer, Standex’s sale of its refrigeration business continues the simplification of the company’s portfolio that began with the sale of its cooking business last year.
Master-Bilt was acquired by Standex in 1971 and operates from New Albany, Mississippi. Nor-Lake was added in 2003 and manufactures in Hudson, Wisconsin.