Industrial conglomerate, Ingersoll-Rand, is selling its Hussmann refrigeration business, Reuters reports. The St Louis-based unit, which provides supermarkets and food retailers with display cases, refrigeration systems and beverage coolers, is expected to fetch under $1 billion.
Companies, including private equity firm, Warburg Pincus, are interested in the unit. The seller is being advised by JP Morgan Chase on the sale. In 2000, Ingersoll-Rand acquired Hussmann, founded in 1906 by Harry Hussmann, for $1.55 billion in cash.
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