Standex Buys Ultrafryer Systems, Sells Millwork And Fab Company

Standex International Corp. has acquired Ultrafryer Systems, a San Antonio-based maker of deep fryers for restaurant and commercial installations.

“This acquisition is a big step in moving Standex into the foodservice chain fryer segment and complements many of FSEG’s current fryer product offerings within the grocery retail segment,” said John Abbott, group v.p.-Food Service Equipment Group.

Ultrafryer’s equipment is used in high-volume quick-serve and fast-casual chicken chains, he noted. “As we sharpen our focus on attractive segments with growth potential, we look forward to introducing Ultrafryer’s product line to our other foodservice chain customers and to our dealer network.”

Ed Odmark, president/CEO of Ultrafryer, said the acquisition affords his company opportunities to expand its sales within much larger markets and capitalize on Standex’s significant buying power. “At the same time,” he added, “we are excited to help Standex broaden its core fryer business within the Food Service Equipment Group. Our close customer intimacy within the chicken chain segment and our focus on energy efficiency, with both gas- and electric-powered fryers, help make Ultrafryer and Standex a great strategic fit.”

While Standex was broadening its presence in the foodservice equipment market with its fryer acquisition, it also was tightening its segment focus by completing its previously announced sale of its American Foodservice Co. business unit to AFS All-American Millwork and Fabrication, a portfolio company of All-American Holdings LLC, a private equity firm.

American Foodservice Co. designs and manufactures custom fabricated stone, wood, stainless steel, solid surface and millwork products. According to Standex Pres/CEO David Dunbar, “The highly customized and specialized nature of this business presented few synergies with our core foodservice equipment business and was dilutive to its margins.”

The Standex Food Service Equipment Group, based in Salem, N.H., comprises nine companies in two operating groups, Standex Cooking Solutions Group and Standex Refrigerated Solutions Group: APW Wyott, Bakers Pride, BKI, Federal Industries, Kool Star, Master-Bilt, Nor-Lake, Procon and Tri-Star.