Innovative Refrigeration Systems buys blast-freezing maker QuickFreeze

What's the deal? Innovative Refrigeration SystemsDealroom has a profile for this one. Try Dealroom → has acquired QuickFreezeDealroom has a profile for this one. Try Dealroom →, a Fort Wayne, Indiana-based developer of blast-chilling products for the food cold chain, from Dan and Bob Tippmann. The transaction value was not disclosed.

Who's who? Innovative, founded in 1993 and based in Lyndhurst, Virginia, designs and builds industrial refrigeration systems using natural refrigerants such as ammonia and CO2. QuickFreeze makes modular pallet blast-freezing systems for cold-storage, third-party logistics, and food processing operators, backed by more than 20 years of patented technology.

What changes? QuickFreeze will keep its name as a brand within Innovative, and president Bob Tippmann will continue to lead it and become a shareholder in Innovative. Its management team and customer support stay in place.

What's the endgame? The deal adds QuickFreeze's patented products — including its QFM modular unit, Spartan platform, and wireless temperature loggers — to Innovative's portfolio. It also expands Innovative's manufacturing capabilities for demanding cold chain environments.

Why now? This is Innovative's first acquisition in partnership with CCMP Growth AdvisorsDealroom has a profile for this one. Try Dealroom →, which the company said positions it to pursue growth. "Our partnership positions us to capitalize on the significant growth opportunities ahead," said Mike McGinnis, founder and chief executive officer of Innovative.

The signal: The deal reflects consolidation in the industrial cold chain, as refrigeration players bundle engineering, manufacturing, and specialised freezing technology under one roof to serve logistics and food processing customers.

Read more: finance.yahoo.com

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