Clayton, Dubilier & Rice, LLC completed a transaction effective Friday, September 30 in which funds managed by CD&R will acquire a 60 percent ownership stake in Hussmann International, Inc., a leading manufacturer of refrigerated display merchandising equipment and refrigeration systems for the retail food industry. Ingersoll-Rand plc [NYSE:IR], a world leader in creating and sustaining safe, comfortable and efficient environments, will retain a 40 percent equity interest in the company.
With 2010 revenues of nearly $850 million, Hussmann products include refrigerated and non-refrigerated display merchandisers, refrigeration systems, evaporative condensers, heat exchange coils, beverage coolers, walk-in coolers and freezers, and other related products for a broad range of customer segments involved in food retailing. The company also provides installation, service, maintenance and aftermarket parts. Hussmann holds a leading position in North America, with long-standing relationships with 17 of the 20 largest food retailers, as well as leading positions in international markets, such as Mexico and Australia / New Zealand.