Stone Canyon Industries Holdings acquired the largest manufacturer and distributor of packaged ice in the United States, Reddy Ice Holdings, from New York private equity firm Centerbridge Partners.
Terms of the agreement weren’t disclosed.
The five-year-old, Mid Wilshire-based firm targets companies that “provide mission-critical products and services to customers around the world.”
In February 2017, Stone Canyon snapped up industrial packaging and container maker Mauser for $2.3 billion. Its portfolio includes a cluster of companies that provide parts and services for railroads including railcar and industrial parts manufacturer A. Stucki Company, which was acquired in 2015.
Reddy Ice distributes in 26 states and the District of Columbia and has 1,500 employees. The Dallas-based company was acquired by Centerbridge 2012 as part of its bankruptcy reorganization.
Latham & Watkins and Gibson, Dunn & Crutcher served as legal advisors to Stone Canyon. BMO Capital Markets Corp., Jefferies and Kirkland & Ellis advised Centerbridge and Reddy Ice.
Manufacturing, retail and trade reporter Rachel Uranga can be reached at firstname.lastname@example.org or (323) 549-5225 ext. 251. Follow her on Twitter @racheluranga