Arctic Industries, a portfolio company of Stoic Holdings, has acquired Duracold Refrigeration Manufacturing Co. Financial terms weren’t announced. Duracold, of Los Angeles, makes walk-in cooler and freezers.
A locally based startup private equity firm keeps playing it cool.
Stoic Holdings made its second acquisition earlier this year, doubling down on the cold storage industry.
The company, based in Denver and led by founders Ryan Berk and Michael Dworkis, acquired Miami-based Arctic Industries in January.
After looking at 260 companies to invest in, a startup private equity fund run by two childhood pals has made a cool first investment deal.Denver-based Stoic Holdings last month invested an undisclosed sum to buy the majority share of New York-based Store It Cold.
Stoic Holdings has acquired a majority of Store It Cold. Financial terms weren’t announced. Store It Cold makes CoolBot™, a patented device that enables users to create cold storage solutions using standard home air conditioners.