Viessmann Acquires KPS Global

KPS Global will soon have a new owner in Viessmann Generations Group. Parent company D Cubed Group made the announcement in a Sept. 3 release; it expects the sale to close in the next 90 days. Financial terms of the transaction weren’t disclosed.

D Cubed created KPS Global in 2015 through the simultaneous acquisitions of Hill Phoenix’s Walk-Ins business from Dover Corp. and Kysor Panel Systems from the Manitowoc Co. Today, KPS Global serves as an over $400 million revenue company, providing custom insulated panel systems to companies in all areas of food retail as well as the scientific and cold storage markets.

“We recognize D Cubed’s tremendous accomplishment in creating and building KPS Global to where it is,” says Max Viessmann, CEO of Viessmann. “We see an incredible opportunity to build on that and support the Company to further extend its ongoing growth within and beyond its core market. We are excited to work together with the company’s proven management to further drive value creation.”

Founded in 1917, Viessmann serves as “a global, broadly diversified and purpose-driven family business for responsible capital,” says the release, adding that it “forms an ecosystem of entrepreneurs and co-creators with a clear focus on CO2 avoidance, CO2 reduction and CO2 capturing.”

Based in Fort Worth, Texas, KPS Global has five manufacturing facilities and more than 850 employees.