ST. LOUIS, September 30, 2015 – Emerson (NYSE: EMR) today announced it has closed on the sale of its InterMetro business to Ali Group, a private company based in Italy that specializes in the manufacturing of foodservice equipment for restaurants, hotel chains, hospitals, schools, airports, correctional facilities and canteens. Final terms of the sale were not disclosed.
“The sale of the InterMetro business enables us to accomplish two goals. It is another step forward in our overall strategic portfolio repositioning designed to enable Emerson to focus on our core markets, and it places the strong InterMetro business — which has created significant value for us over the years — in capable hands,” said Emerson Chairman and Chief Executive Officer David N. Farr. “This provides Ali Group with a unique opportunity to strengthen and grow its business globally. I am grateful to the employees of InterMetro for their commitment to growth and operational excellence throughout our partnership.”
“We are very pleased to welcome InterMetro into the Ali Group,” said Ali Group’s Chairman and Chief Executive Officer Luciano Berti. “InterMetro’s leadership in the storage solutions sector opens new opportunities for Ali Group and increases our global presence and visibility in the foodservice equipment market.”
Currently part of Emerson’s Commercial and Residential Solutions segment, InterMetro is based in Wilkes-Barre, Pa., and employs more than 1,500 people across the globe.
J.P. Morgan acted as exclusive financial advisor to Emerson on the transaction. Brookwood Associates and Deloitte & Touche LLP acted as financial advisors to the Ali Group. Alston & Bird LLP acted as legal advisors for the Ali Group. Davis Polk & Wardwell LLP acted as legal advisors to Emerson.
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world. The company is comprised of five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. Sales in fiscal 2014 were $24.5 billion. For more information, visit Emerson.com.
About Ali Group
Founded in 1963 by Luciano Berti, the Ali Group is an Italian corporation with headquarters located in Milan, Italy and North American operations based in Chicago, Illinois. The company, through its subsidiaries, designs, manufactures, markets and services a broad line of commercial and institutional foodservice equipment used by major restaurant and hotel chains, independent restaurants, hospitals, schools, airports, correctional institutions and canteens.
The Ali Group and its 76 global brands employs over 8,500 people in 26 countries and, in terms of sales, is one of the world’s two largest groups in this industry. It has 55 manufacturing facilities in 14 countries and sales and service subsidiaries throughout Europe, North America, South America, the Middle East and Asia Pacific. More information is available at www.aligroup.com.
For more than 86 years, InterMetro has been the world’s leading manufacturer storage, transport and technology solutions for the foodservice, healthcare and commercial products markets. Committed to understanding the needs of customers and channel partners, Metro provides innovative solutions that optimize space, improve workflow and user efficiency. InterMetro has been a business unit of Emerson since 1997. For more information, visit http://www.metro.com.