Standex Refrigerated Solutions Group
(RSG) has reached an agreement to sell its Master-Bilt
refrigeration businesses to Ten Oaks Group
, a family business focused on corporate divestitures. The closing is expected to take place in the next 45 days.
While assessing its portfolio of businesses to ensure alignment with long-term strategic vision, Standex determined that the RSG, specifically the Master-Bilt and Nor-Lake brands, no longer aligns with its long-term strategy. Both Standex and Ten Oaks Group believe the RSG businesses continue to offer competitive advantages including strong market brands, dedicated and capable employees, and attractive products.
Until the sale is completed, business will resume as usual as both Master-Bilt and Nor-Lake work with customers and channel partners to retain and grow opportunities.