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Easy Ice buys PE-backed Icesurance

Easy Ice has acquired Icesurance, a leasing division of Arctic Glacier, a packaged ice company.

Easy Ice has acquired Icesurance, a leasing division of Arctic Glacier, a packaged ice company. Icesurance was backed by Freeman Spogli.

PRESS RELEASE

NEW YORK, March 10, 2022 /PRNewswire/ — Easy Ice, the only national provider of full-service ice machine subscription solutions, has acquired Icesurance, the leasing division of Arctic Glacier, one of the largest packaged ice companies in the country. The acquisition unites two leaders in the commercial ice machine industry.

“After more than 45 years in business, Arctic Glacier and Icesurance have achieved extraordinary success in the commercial ice machine industry. We’re equipped to continue that legacy,” said Mark Hangen, CEO of Easy Ice. “With this acquisition, we have strengthened our presence in the two largest metropolitan areas in the nation with local resources that enable us to provide best-in-class service to clients in both regions.”

Arctic Glacier has garnered industry acclaim for packaged ice solutions while developing ice machine leasing operations, including branch offices, warehouses, and local operational staff including experienced service providers, on both sides of the country. Easy Ice has expanded through a combination of organic growth and strategic acquisitions of ice machine leasing companies with similar dedication to excellence, culture, and organizational directives.

“Easy Ice has an exceptional reputation for commercial ice machine technical knowledge, rigorous training standards, and unparalleled customer service that aligns with our own,” says Richard Wyckoff, CEO of Arctic Glacier. “Comparable standards and business values made the acquisition a great fit and will also ensure both operational continuity and a consistent, high-quality customer experience throughout the transition.”

The acquisition of Icesurance represents the sixth strategic acquisition since Freeman Spogli and management recapitalized the company in late 2019. Easy Ice has increased its number of ice machines under management to nearly 30,000 units across 47 states. Other recent developments include the acquisition of Biltmore Refrigeration in Chicago, IL, the acquisition of the leasing division of Brooks Industries in Oklahoma City, OK, a new refurbishment facility in Lenexa, KS, and multiple executive-level hires. With aggressive growth targets plus funds designated for future purchases, additional acquisitions should be expected in 2022 and beyond.

About Easy Ice
Easy Ice, co-headquartered in Phoenix, AZ and Marquette, MI, is the national leader in the full-service ice machine subscription industry with warehouse and distribution facilities in Chicago, Dallas, Kansas City, Orlando, New York City, and Los Angeles. Since its founding in 2009, the company has rapidly grown its ice machines under management to nearly 30,000 units across 47 states. Easy Ice commercial ice machine subscription programs include installation, cleaning, preventive maintenance, repairs, and backup ice. For more information, please visit www.easyice.com.