Lennox International to Acquire Kysor/Warren for $138M

Lennox International Inc. LII today announced it has signed a definitive agreement with The Manitowoc Company, Inc. to acquire substantially all the assets of its Kysor/Warren business. Kysor/Warren is a manufacturer of refrigerated systems and display cases for supermarkets throughout North America. Under the terms of the agreement, the total consideration for the acquisition is $138 million, subject to a post-closing purchase price working capital adjustment. The deal is expected to close in the first quarter of 2011, subject to customary closing conditions