Carlyle acquires ice producer Arctic Glacier from HIG Capital
U.S. private equity firm Carlyle Group has acquired Arctic Glacier Group Holdings Inc, a Canadian manufacturer and distributor of packaged ice to consumers across North America. No financial terms were disclosed. Carlyle bought the Winnipeg-based company from U.S. private equity firm HIG Capital, which acquired it out of bankruptcy in 2012 for US$434.5 million. Earlier this month, the Wall Street Journal said HIG was planning to sell Arctic Glacier to Carlyle for US$723 million. Founded in 1996, Arctic Glacier serves more than 75,000 retail accounts. It is the fifth investment of Carlyle Global Partners, Carlyle’s long-duration fund, which raised US$3.6 billion last year.
20 March 2017•5 mins read
