Sale of Cooking Solutions Group to The Middleby Corporation

Industrial
Sale of Cooking Solutions Group to The Middleby Corporation

Summary

Baird served as exclusive financial advisor to Standex International Corporation on this transaction

About

Standex International Corporation (“Standex”) (NYSE:SXI) recently announced the sale of its Cooking Solutions Group business to Middleby Corporation (“Middleby”) (NASDAQ-GS:MIDD) for $105 million.

Standex is a multi-industry manufacturer in five broad business segments: Food Service Equipment, Engineering Technologies, Engraving, Electronics Products and Hydraulics Products. Standex manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. Standex is headquartered in Salem, New Hampshire.

Cooking Solutions Group offers commercial combination and convection ovens, fryers, ranges, food merchandisers and warmers. Cooking Solutions Group has six locations, the Group headquarters, three manufacturing sites and two distribution centers. Cooking Solutions Group is headquartered in Allen, Texas.

Middleby is a global leader in the foodservice equipment industry. Middleby develops, manufactures, markets and services a broad line of equipment used in the commercial foodservice, food processing, and residential kitchen equipment industries. Middleby’s brands include Blodgett®, Globe®, Pitco Frialator®, Rangemaster®, Southbend®, Star®, Toastmaster®, TurboChef®, U- Line® and Viking®, among dozens of others. Middleby is headquartered in Elgin, Illinois.
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Industrial
Sale of Cooking Solutions Group to The Middleby Corporation
Date
April 2019
Company
Standex International Corporation
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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