Anthony Acquires Trausch Industries Transaction Brings Together Two Industry Leading Companies and Provides Customers with Increased Energy Saving Capabilities
SYLMAR, Calif. and AUDUBON, Iowa, Feb. 18 /PRNewswire/ -- Anthony, a portfolio company of Los Angeles-based investment firm Aurora Capital Group, announced today that it has completed the acquisition of and partnership with Trausch Industries ("Trausch"), a portfolio company of the Edgewater Funds, a Chicago-based private equity firm. Terms of the transaction were not disclosed.
Anthony is a leader in the U.S. commercial refrigeration industry and the world's largest manufacturer of specialty glass, commercial glass refrigerator and freezer doors, case lighting, display and merchandising systems. Trausch is the leader in and creator of "reskinning," the onsite refurbishment of refrigerator and freezer cases. Reskinning provides new exterior and interior surfaces for store display cases and can be accomplished with no store downtime, making it an extremely efficient, cost-effective and popular option for retailers.
Jeffrey Clark, Chief Executive Officer of Anthony, stated, "The acquisition of Trausch is a transformational event for our company and the commercial refrigeration industry. This transaction creates new opportunities to leverage the strengths of our complementary products and customer relationships. Trausch's unmatched reskinning and parts capabilities greatly transform Anthony's business profile towards a one-stop-shop for customers. On behalf of Anthony, I welcome Trausch's hardworking and dedicated employees and its experienced management team to our company. I am confident that together Anthony and Trausch will better serve our customers, support the environment and greatly enhance our prospects for future growth."
Susannah Kim, Director of Marketing at Anthony, stated, "This combination with Trausch will propel Anthony forward as the ideal partner for our grocery customers. Anthony is already making strides in our Green Initiative, which is focused on energy conservation and reduction of the global carbon footprint. Our company's expansion into reskinning is a logical step in better servicing our retail customers who want to be smart about managing their equipment and resources. A recent study conducted by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) concluded that there is no negative impact on sales as a result of closing refrigerated cases with glass doors. We are confident that Anthony is positioned to take the lead in helping retailers close their refrigerated cases for a potential $1 billion in energy savings across the industry."
Anthony expects to maintain Trausch's headquarters in Audubon, Iowa.
Anthony also announced today the launch of its new corporate logo and global identity based on the Anthony brand promise of "transparent confidence" in all its products and services. To view Anthony's new logo please visit the company's website at http://www.anthonydoors.com.
As previously announced in July 2009, Anthony acquired VAL S.p.A., a European manufacturer of curved tempered glass and refrigerator doors. Through this transaction, Anthony gained an important foothold in the growing European refrigeration and freezer marketplace.
Founded in 1958 and headquartered in Sylmar, CA, Anthony is the world's largest manufacturer of specialty glass, commercial glass refrigerator & freezer doors, case lighting, display and merchandising systems. Anthony provides customers with state-of-the-art merchandising systems on the market, offering low-energy products to cut operating costs and help preserve natural resources. Anthony offers up to 70% energy savings by enclosing open dairy and freezer cases with Anthony Retrofit doors and Anthony "OptiMax2" LED lighting system. Anthony serves the commercial refrigeration markets in North America, South America, Asia, and Western Europe. For more information, please visit: http://www.anthonydoors.com.
About Aurora Capital Group
Aurora is a Los Angeles-based private equity firm managing over $2.0 billion that utilizes two distinct investment strategies. Aurora Equity focuses principally on control-investments in middle-market industrial, manufacturing and selected service oriented businesses, each with a leading position in sustainable niches, a strong cash flow profile, and actionable opportunities for both operational and strategic enhancement. Aurora Resurgence invests in debt and equity securities of middle-market companies and targets complex situations that are created by operational or financial challenges either within a company or a broader industry. For more information about Aurora Capital Group, visit www.auroracap.com or www.aurorares.com.
About Edgewater Funds
The Edgewater Funds is a leading private equity firm based in Chicago, Illinois. Through 15 years of experience and $1 billion in capital under management, Edgewater has distinguished itself through successful partnerships with quality middle market companies. Edgewater is currently investing Edgewater Growth Capital Partners II, L.P. a $470 million equity fund. Edgewater is distinguished by the depth of experience of its Partners who have been successful private equity investors, CEOs and business leaders. For more information, visit www.edgewaterfunds.com.
Director of Marketing
For Aurora Capital Group:
Matthew Sherman / Jaime Wert
Joele Frank, Wilkinson Brimmer Katcher