UK: James Anderson, former MD of Capital Cooling, has been confirmed as the CEO of new company Capital Cooling Refrigeration.
Anderson is joined on the board of the new company by former Capital Cooling product development director Graham Frew.
Capital Cooling Refrigeration was formed following the £300,000 acquisition of Edinburgh-based Capital Cooling’s refrigerated cabinet sales business in a pre-pack deal from the administrator KPMG.
The failure of Capital Cooling saw the company fall into administration on December 20, resulting in the closure of the company’s service division and 61 redundancies.
Capital Cooling Refrigeration is being backed by London-based private equity company Rcapital Partners. “Rcapital’s investment has enabled incumbent CEO James Anderson to progress plans to further develop the business and take advantage of significant growth opportunities,” the company said on its website.
“We are extremely pleased to have successfully completed a significant financial investment in our business which will allow us to pursue our ambitious growth strategy over the next 1-2 years,” said new CEO James Anderson.
Capital Cooling business sold for £300k
Capital Cooling will continue as a cabinet sales company under the name Capital Cooling Refrigeration Ltd, having been bought by new owners for £300,000. Read more…