H.I.G. Capital signs deal for bankrupt Canadian ice company Arctic Glacier

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H.I.G. Capital has acquired Arctic Glacier, a Canada-based producer, marketer and distributor of packaged ice. The company previously filed for bankruptcy in February 2012.

The company is the largest producer of packaged ice in Canada and the second largest producer in the US. It operates a network of 39 production plants and 48 distribution facilities and services more than 75,000 retail locations.

Keith McMahon, president and CEO of Arctic Glacier commented, “The acquisition by H.I.G. provides stability and positions Arctic Glacier for growth. We look forward to carrying on our proud tradition of product quality and service excellence. We wish to thank our customers, suppliers and employees for their support throughout this process.”

“We are very excited about the Arctic Glacier opportunity,” added Bret Wiener, a managing director of H.I.G. Capital. “The company is a market leader with a diversified customer base, broad geographic footprint and high quality production and distribution assets. We see tremendous opportunities in the business and look forward to supporting Keith and the Arctic team.”

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