Two former directors of Enodis and Scotsman Industries have teamed up to purchase HTG Trading, the company that owns Hubbard Ice Systems and Taylor UK.
Dave McCulloch and Dave Wrench confirmed this week that they have acquired the Suffolk-based business from a consortium of venture capitalists.
Hubbard Ice Systems is the UK distributor for Scotsman, the ice machines manufacturer that is now part of Ali Group, while Taylor specialises in ice cream and frozen yogurt equipment.
HTG Trading’s CEO, Martin Wood, said: “This commitment, from two such well respected and experienced industry professionals, underlines the strength of HTG, its brands and its business plan.”
Wood himself has also invested in HTG Investment Ltd, the company that now owns HTG Trading.
He added: “Hubbard and Taylor are the market leaders in their sectors. For example, in a recent survey of catering equipment distributors, Scotsman came top in the quality ice machine equipment category, while Hubbard scored well over 90% in terms of after-sales support. We are already looking at ways to build on their successes to further develop and grow the company in the future.”
McCulloch and Wrench are veterans of the catering equipment market. McCulloch was CEO of Enodis plc before carrying out a similar role at Scotsman Industries. Wrench, meanwhile, was CFO at both companies.
The pair retired from their positions earlier this year following the integration of Scotsman into Ali Group. Their managerial responsibilities were absorbed by Filippo Berti and Christa Miller, CEO and CFO of Ali Group North America respectively.
HTG Trading is the first personal investment that McCulloch and Wrench have made in the foodservice equipment industry.