Spin-off of Manitowoc Foodservice, Inc.
Baird served as financial advisor to The Manitowoc Company, Inc.
AboutThe Manitowoc Company, Inc. (“Manitowoc”) (NYSE: MTW) recently completed the spin-off of its wholly owned subsidiary, Manitowoc Foodservice, Inc. (“Manitowoc Foodservice”) (NYSE: MFS), through a tax-free distribution of one share of Manitowoc Foodservice stock for every share of Manitowoc stock held by Manitowoc shareholders at the close of business on February 22, 2016.
The Manitowoc Company, Inc. is a leading global manufacturer of cranes and lift solutions with 49 manufacturing, distribution and service facilities in 20 countries. A premier innovator and provider of crawler cranes, tower cranes and mobile cranes for the heavy construction industry, Manitowoc generated $1.9 billion in revenue in 2015, with over half generated outside of the United States. The Manitowoc Company, Inc. is headquartered in Manitowoc, Wisconsin.
Manitowoc Foodservice, Inc. designs, manufactures and supplies best-in-class food and beverage equipment for the global commercial foodservice market. Manitowoc Foodservice sells through over 3,000 distributors globally and operates over 20 facilities throughout the Americas, Europe and Asia, generating more than $1.5 billion in revenue in 2015. Manitowoc Foodservice, Inc. is headquartered in New Port Richey, Florida.
For additional information about this transaction, please contact:
- March 2016
- The Manitowoc Company, Inc.
- Target Location
- North America
- Acquiror Location
- North America