NEW ALBANY, Mississippi (AP) - A refrigeration firm with operations in Mississippi is selling part of its business to another company.
Standex Refrigerated Solutions Group has agreed to sell its Master-Bilt and Nor-Lake refrigeration businesses to Ten Oaks Group for $11 million, the Northeast Mississippi Daily Journal reports that.
The company operates a Master-Bilt manufacturing facility in New Albany. RSG makes refrigerated cabinets and walk-ins for customers in the food service and retail end market.
The closing is expected to occur in the next 45 days. Standex said that until the sale is complete, it will be “business as usual.”
In fiscal 2019, RSG reported about $150 million in revenue and about a $1 million operating loss.
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