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SCIH enters into an agreement to acquire Reddy Ice

24 May 2019 | News

"This investment represents the next step in our plan to build a diversified industrial conglomerate."

Stone Canyon Industries Holdings LLC ("SCIH"), a global industrial holding company, entered into a definitive agreement and plan of merger to acquire Reddy Ice Holdings, Inc. ("Reddy Ice"), the largest manufacturer and distributor of packaged ice in the United States, which is majority owned by funds advised by Centerbridge Partners, L.P. ("Centerbridge").

Terms of the transaction were not disclosed.

"This investment represents the next step in our plan to build a diversified industrial conglomerate," said James Fordyce, Co-CEO of SCIH.  "We look forward to building on the success created by Reddy Ice CEO Deb Conklin, Chairman Bill Corbin and their entire team as we transition to this new phase in the company's future."

Latham & Watkins LLP and Gibson, Dunn & Crutcher LLP served as legal advisors to SCIH. Centerbridge and Reddy Icewere advised by BMO Capital Markets Corp., Jefferies LLC and Kirkland & Ellis LLP.

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