Middle-market private equity firm D Cubed Group LLC has formed a new company with two purchases. The firm, based in New York, is adding Hill Phoenix’s walk-in business from Dover Corp. (NYSE: DOV) along with Kysor Panel Systems from the Manitowoc Co. (NYSE: MTW).

Both targets make parts, such as panels, for walk-in freezers and coolers that are used by retailers, convenience stores and other foodservice companies. The purchase price of Kysor Panel is $85 million, while the terms on the Hill Phoenix division were not disclosed.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.