Innovative Refrigeration Systems Acquires QuickFreeze®

Addition of QuickFreeze’s Product Portfolio and Team Members Broadens Innovative’s Solutions for Customers

LYNDHURST, Va.--(BUSINESS WIRE)--Innovative Refrigeration Systems, Inc. (the “Company” or “Innovative”), a leader in design build engineering and aftermarket services for industrial refrigeration systems, today announced that it has acquired QuickFreeze®, the leading developer and manufacturer of blast chilling products for the food cold chain based in Fort Wayne, Indiana, from Dan and Bob Tippmann. This transaction, which is Innovative’s first in partnership with CCMP Growth Advisors, will accelerate Innovative’s growth and ability to provide unique solutions to its customers with the addition of QuickFreeze’s extensive portfolio of patented blast-freezing technologies and talented team members.

President Bob Tippmann will continue to lead QuickFreeze, alongside the rest of its management team, and become a shareholder in Innovative. QuickFreeze will continue to operate under its own name as a brand within Innovative. The QuickFreeze team will continue to deliver the same high-quality, accessible expertise its customers have trusted for more than two decades.

“QuickFreeze has a proven track record of developing highly effective cold storage solutions that reflect the needs of the people who operate them on a daily basis,” said Mike McGinnis, Founder and CEO of Innovative Refrigeration Systems, and Bob Almon, President of Innovative Refrigeration. “QuickFreeze’s robust product technology offering is a strong strategic fit with our current portfolio, and we are thrilled to welcome Bob and the QuickFreeze team to the Innovative family. Our partnership positions us to capitalize on the significant growth opportunities ahead as we enhance our product line and manufacturing capabilities in support of the most demanding cold chain environments.”

QuickFreeze develops modular pallet blast-freezing systems for cold-storage, third-party logistics operators and food processing operators. Backed by more than 20 years of patented innovation, QuickFreeze’s current offering includes QFM, a drop-in modular unit featuring auto-start variable speed EC fans and Wi-Fi cloud monitoring; Spartan, a streamlined, two-deep blast-freezing platform; T2 Spacer, a pallet-spacing system that maximizes airflow and protects case integrity; and T-Probe, a wireless temperature logger built for subzero temperatures. The QuickFreeze team has also patented the AutoSeal and AutoSense QFM accessories, which eliminate bypass air and automate cycle completion without requiring physical probes.

“My family has been designing, building and operating refrigeration systems for nearly 100 years, with a focus on hands-on development that starts on the warehouse floor and putting our customers first,” said Bob Tippmann, President of QuickFreeze. “Dan and I had many discussions with the Innovative Refrigeration team, and it is clear they share our commitment to quality, excellence and talent development. Becoming part of a larger organization will not only provide us with the additional resources needed to continue growing but also offer meaningful professional development opportunities to our talented team members.”

About Innovative Refrigeration Systems

Founded in 1993, Innovative Refrigeration Systems specializes in ammonia, CO2 and cascade refrigeration systems, which are the most energy efficient systems for large scale industrial refrigeration using sustainable natural refrigerants. With vertical integration from engineering design, manufacturing, installation to plant commissioning, Innovative helps its customers and partners complete their projects on time and on budget. Innovative’s software offerings, which include ePSM, eCompliance, SafetyAmp and SiteSense, provide value for end users in managing their refrigerant compliance, safety, and energy efficiency. Innovative is committed to building the next generation of highly skilled refrigeration technicians, operating Industrial Refrigeration Technical College, the top ammonia refrigeration technician education facility in the United States. Innovative is proud to be one of only 12 companies in the Commonwealth of Virginia which is OSHA SHARP certified for its exemplary safety and health programs. The Innovative team builds quality and reliability into everything it does. Visit www.r717.net.

About QuickFreeze®

QuickFreeze® is an industrial equipment manufacturer within Innovative Refrigeration Systems that develops equipment for the cold chain. QuickFreeze utilizes time-honed expertise and advanced technology solutions to create products that scale with a business and are designed to improve ROI. The current QuickFreeze portfolio includes QFM, Spartan, T2 Spacer and T-Probe, along with the patented AutoSense and AutoSeal technologies. QuickFreeze provides a full suite of cold storage engineering services and operations guidance. Visit https://quickfreeze.com/