Private equity firm Warburg Pincus WP.UL has agreed to sell Scotsman Industries Inc to Italian food service equipment firm Ali Group for about $575 million, the Wall Street Journal reported, citing people familiar with the deal.
Warburg, which bought the ice machine maker in 2009 for $160 million, made back its investment in Scotsman before the sale, collecting about $200 million in dividend payments, the Journal said. (link.reuters.com/cew73t)
Officials at Warburg Pincus were unavailable for comment outside regular business hours.
(Reporting By Vrinda Manocha in Bangalore; Editing by Matt Driskill)