Standex International Corp has acquired in a cash transaction substantially all of the assets of the Kool Star Division of Three-Star Refrigeration Engineering Inc.
Kool Star, a walk-in cold storage manufacturer, services mainly the West Coast and southwestern United States. Kool Star will be integrated into Standex's Food Service Equipment Group. Terms of the transaction were not disclosed.
The acquisition of Kool Star will enable Standex's Food Service Equipment Group to:
--Accelerate sales growth and enhance profitability.
--Increase market penetration of its walk-in cooler and freezer business in the West Coast and Southwest.
--Leverage the new Mexican facility as the first major step in building a manufacturing presence there.
