Arctic Industries Announces Acquisition of Duracold Refrigeration Manufacturing Company
MIAMI, FL | LOS ANGELES, CA – September 5th, 2018 – Arctic Industries, a leading walk-in cooler and freezer manufacturer sponsored by Stoic Holdings, is pleased to announce its acquisition of Duracold Refrigeration Manufacturing Company (“Duracold”), a Los Angeles-based walk-in cooler and freezer manufacturer.
Arctic Industries’ partnership with Duracold will expand Arctic’s geographic reach to the western U.S., while enhancing the quality and service that Duracold has delivered to its customers for over 20 years. This acquisition will increase Arctic’s foam-in-place manufacturing capabilities while adding many new customer relationships that can now access the combined company’s broader product offerings and bicoastal manufacturing presence.
"Since its founding in 1998, Duracold has earned its reputation for superior product performance, a strong customer value proposition, and exceptional customer service by producing an outstanding product that cost effectively serves its customers' refrigeration needs," said David Grife, President of Arctic Industries. "We are excited to join forces with Duracold and take the combined company to the next level."
Harold Monsher, President of Duracold, will remain with the business to ensure a successful transition. "I founded Duracold to be the leader in FIP in the West Coast” said Harold. "After many years of success, I am excited about Arctic’s ability to continue adding value to Duracold’s customers and employees.”
“By combining Arctic and Duracold, we are building a premier nationwide manufacturer of walk-in coolers and freezers,” said Ryan Berk, Partner at Stoic Holdings. “We will continue to invest in new capabilities and talent at Arctic to better serve our growing base of customers.”
About Arctic Industries
Arctic Industries, LLC was founded in 1981 and is among the premier walk-in cooler manufacturers in the United States with representatives in North America, Central America, South America and the Caribbean Islands. Arctic Industries offers quality products at an outstanding value utilizing the finest materials and fabricated by a highly trained and experienced staff. Arctic Industries serves its nationwide base of customers from manufacturing facilities in Miami, FL and Los Angeles, CA.
About Stoic Holdings
Stoic Holdings is a private equity firm formed by Ryan Berk and Michael Dworkis. Stoic builds long-term value by making concentrated investments in market leading businesses and taking an active role in helping management teams succeed. Stoic invests with a patient, long-term time horizon and a flexible structure. For more information about Stoic Holdings, please visit www.stoicholdings.com.