KPS Global, which is backed by D Cubed Group LLC, has acquired San Dimas, California-based Custom Cooler, a maker of custom walk-in coolers, walk-in freezers and industrial cold storage applications. No financial terms were disclosed.
FORT WORTH, Texas–(BUSINESS WIRE)–KPS Global®, a privately-owned company held by D Cubed Group LLC, announced the acquisition of Custom Cooler Inc., a privately-owned manufacturer of custom walk-in coolers, walk-in freezers and industrial cold storage applications. The acquisition of Custom Cooler, based in San Dimas, California, creates a company of more than $250 million in total sales, and extends KPS Global as the leader of custom walk-in solutions in the industry and its reach into new markets. Terms of the transaction were not disclosed.
“This is a great next step in our growth,” said Mike Eakins, Chief Executive Officer of KPS Global. “With very little customer, dealer and rep overlap and a complementary geographic focus the decision was an easy one. Custom Cooler is well-known for the quality of its manufacturing, experience of its employees, and strong customer relationships. It also has expertise in industry sectors and geographies outside those we currently serve. The acquisition also gives Custom Cooler’s customers access to the full turnkey solution KPS Global offers, including installation services. We are excited to welcome Custom Cooler to the KPS Global family.” Steve Lee will remain with the company and report to Mike Eakins.
“As an independent company operating in a dynamic market, we are fortunate to have an ownership group that understands what it takes to build a great business with a focus on the long term,” continued Eakins. “D Cubed brings an appreciation of the challenges and opportunities that come with change, as well as resources and capital to support strategic growth. They continue to be committed to our continuously improving the quality of our offering and to investing into innovation that will yield substantial improvements for our customers. This acquisition is another example of extending our capabilities.”
“From day one, our intention has been to create a truly great company that is not only a market leader but differentiates itself on the strength of the overall offering, its ability to meet the increasingly sophisticated needs of its customers and critically, in driving innovation,” said Glenn Kaufman, managing director of D Cubed Group. “KPS Global has come far in streamlining its operations and in developing and introducing new products to the market – the pace of which will only accelerate moving forward. This acquisition will bring additional expertise and open additional markets. Our vision for KPS Global and what it can accomplish is a long-term one.”
According to Eakins, very little customer overlap exists between the two companies and their product lines are highly compatible, enabling KPS Global to broaden and deepen its portfolio. As a key part of its business, Custom Cooler offers products based on its continuous line panel technology (CLP), which supports longer building spans and is targeted to industrial cold storage applications.
“Customization, technology and cost efficiency continue to drive our business,” said Steve Lee, President and Chief Executive Officer of Custom Cooler. “The growing areas using specialized panel solutions make this a pivotal moment for the industry, and the challenge of delivering next-level products and services to the customer really gets me very excited.”
Custom Cooler will continue operations out of its San Dimas and Conyers, GA facilities, which comprise more than 230,000 square feet of state-of-the-art manufacturing and warehousing capacity and are home to approximately 150 people.
About KPS Global
KPS Global is the industry-leading manufacturer of insulated panel systems, supplier of aftermarket parts and replacement equipment and provider of seamless installation services. The company has three strategically-located manufacturing facilities to serve customers anywhere in the world. The company was formed in December 2015 by D Cubed Group LLC through the acquisition of Kysor Panel Systems from Manitowoc Company, Inc. and the Hill Phoenix Walk-ins Division from Dover Corporation. Headquartered in Fort Worth, Texas, KPS Global is a privately-held company with more than 650 employees.
About D Cubed Group
D Cubed Group is a private market investment firm that actively invests committed equity capital in profitable, small and mid-scale businesses operating in the consumer and business services industries, with a particular emphasis in multi-channel retail, restaurant and foodservice, franchising, as well as the marketing, education and healthcare services sectors. The firm and the capital it manages are backed by company executives and founders and other business-oriented investors who understand the creation of value through concentrated investing, all-in support of companies and management teams, and the elimination of arbitrary holding periods. For more information on D Cubed Group visit www.dcubedgroup.com.