McColl Partners, LLC acted as financial advisor to Triangle Ice Co., Inc. ("Triangle Ice") in its sale to Reddy Ice Group, Inc. ("Reddy Ice"), the leading manufacturer and distributor of packaged ice in the United States. Reddy Ice is a wholly owned subsidiary of Reddy Ice Holdings, Inc., an entity formed by Trimaran Capital Partners, Bear Stearns Merchant Banking, and management.
Triangle Ice will significantly expand Reddy Ice's geographic footprint in the attractive Southeast market. The acquisition further augments Reddy Ice's position as the largest manufacturer and distributor of packaged ice in the United States. John P. Barker, Chairman and CEO of Triangle Ice, stated, "We are pleased about becoming a part of Reddy Ice and joining an outstanding team and superior provider of packaged ice products. We believe the business our management team and employees have built over the years will be a strong contributor to the Reddy organization."
About Triangle Ice Co., Inc
Triangle Ice, headquartered in Lumberton, North Carolina, is the leading manufacturer and distributor of packaged ice serving customers located throughout North and South Carolina. The Company distributes its ice to supermarkets, retail chains, mass merchants, convenience stores, and independent retailers under the "Triangle Ice" brand name and its customers' own private label brands. Triangle Ice's customers include Food Lion, Bi-Lo, The Pantry, Wal-Mart, Winn-Dixie, and Harris Teeter.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with private equity groups, entrepreneurs, family-owned businesses, public companies, financial institutions, and divisions of large companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
For more information about our Consumer Group, please contact Lorin DeMordaunt at (704) 333-0525. More information about McColl Partners can be found at www.mccollpartners.com.
