Sale to Standex International Corporation (NYSE:SXI)
Manufacturing - Food Equipment Food - Equipment
Nor-Lake, Inc. was sold to Standex International Corporation (NYSE:SXI), a diversified manufacturing company with operations in five product segments: Food Service Equipment Group, Air Distribution Products Group, Engineered Products Group, Engraving Group and Hydraulics Products Group. Nor-Lake is a leading designer and manufacturer of commercial refrigeration equipment, ranking among the nation's largest suppliers of walk-in coolers and freezers to the foodservice and scientific industries. With the acquisition of Nor-Lake, Standex's Food Service Equipment Group became the leading supplier of commercial walk-in coolers and freezers in the United States.
"George K. Baum organized and effectively managed a strong competitive sale process for Nor-Lake and was instrumental in delivering a valuation that exceeded our expectations."
President, CEO and Shareholder Nor-Lake, Inc.