SRC, Inc. has been acquired by KPS Global®, expanding the latter's capabilities in the refrigeration industry and enhancing its position in the food retail sector.

Target Company Overview

SRC, Inc., also known as SRC Refrigeration®, has been successfully acquired by KPS Global®, a subsidiary of Viessmann Generations Group GmbH & Co. KG. Headquartered in Sterling Heights, Michigan, SRC is a renowned designer and manufacturer specializing in custom walk-in coolers and freezers. The company primarily serves the food and beverage industry, providing display units, storage units, and replacement doors tailored for retail sectors such as convenience stores, restaurants, and bars. SRC is recognized for its exceptional engineering capabilities and proprietary manufacturing processes, which facilitate the delivery of innovative and reliable refrigeration solutions with industry-leading turnaround times from design to delivery.

Under the leadership of President and CEO Steve Lemieux, SRC has maintained a strong commitment to quality and customer service, ensuring that the needs of their clientele are met efficiently and effectively. The acquisition by KPS Global® is poised to amplify SRC's operational capabilities while preserving the quality standards that existing customers have come to expect.

Industry Overview in the United States

The refrigeration solutions industry in the United States has seen significant growth, driven by increasing demand within the food and beverage sector. The rise of convenience stores, supermarkets, and restaurants has led to greater req