Krack Corp., Bridgeton, Mo., sold the assets of its industrial refrigeration business to SGS Refrigeration Inc., Hagerstown, Md. SGS will sell the products under a new SGS/Krack name.
With this transaction, Krack retains ownership of its commercial business such as coils, condensers, condensing units and custom-engineered products using halogenated and similar refrigerants. Krack will continue to serve commercial customers through its normal channels without disruption.
“This sale is an important step for Krack Corp.,” says Chuck Previ, director of sales. “It allows us to focus our efforts on serving existing and new customers in the commercial refrigeration market, and provides the industrial business an opportunity to grow under very capable leadership. We look forward to working with SGS on those opportunities in the market where customers would benefit from both of our product lines.”
Terms of the sale were not disclosed.