Ali Group has made its first acquisition of 2015 by agreeing a deal to purchase InterMetro Industries Corporation, a manufacturer of industry storage and transportation products.
The Milan-based outfit has bought the business from global engineering giant Emerson but has not disclosed the value of the transaction.
Luciano Berti, Ali Group’s chairman and CEO, said: “The Metro acquisition is strategically important to our Group as it strengthens our position as leader in the global commercial foodservice equipment industry. InterMetro’s leadership in the storage solutions sector opens new opportunities for Ali Group and adds a new dimension to our ability to serve the foodservice equipment market. The addition of very strong and well recognised brands to those of the Group increases Ali’s global presence and visibility.”
US-based InterMetro has been trading for more than 86 years. As well as providing storage, transport and technology solutions for the foodservice market, it serves the healthcare and commercial products markets. Its foodservice products include heated cabinets, refrigeration cabinets and holding units.
“We are excited to have become part of the Ali Group and look forward to working closely with Luciano and Filippo Berti and the rest of the management team to expand their extensive offering to the markets we serve globally,” said John Nackley, president and CEO of InterMetro Industries Corporation. “We were fortunate to have been an integral part of Emerson and will move forward well prepared to continue our excellent record of profitable growth.”
Brookwood Associates and Deloitte & Touche LLP acted as financial advisors to the Ali Group. Alston & Bird LLP acted as legal advisors for the Ali Group. Davis Polk & Wardwell LLP acted as legal advisors to Emerson.
InterMetro becomes the 77th brand to join the Ali Group. Collectively the group now employs more than 8,500 people in 26 countries.
Main photo: Ali Group’s Filippo Berti, Luciano Berti and Massimo Giussani.