Private equity firm Warburg Pincus has agreed to sell Scotsman Industries Inc. to Italian food service equipment firm Ali Group for about $575 million, the Wall Street Journal reported, citing people familiar with the deal. Warburg, which bought the ice machine maker in 2009 for $160 million, made back its investment in Scotsman before the sale, collecting about $200 million in dividend payments, the Journal said.
(Reuters) – Private equity firm Warburg Pincus has agreed to sell Scotsman Industries Inc to Italian food service equipment firm Ali Group for about $575 million, the Wall Street Journal reported, citing people familiar with the deal.
Warburg, which bought the ice machine maker in 2009 for $160 million, made back its investment in Scotsman before the sale, collecting about $200 million in dividend payments, the Journal said.
Officials at Warburg Pincus were unavailable for comment outside regular business hours.
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