World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Capital Cooling closes service division

UK: Edinburgh-based Capital Cooling is to close its service division in a pre-pack administration deal.

The company, which is rumoured to have been struggling financially for a number of months, is reported to have made around 50 service division personnel redundant on Wednesday (December 20). When contacted, managing director James Anderson did not confirm the number of redundancies, but countered that this action had saved 60 jobs.

The redundancies are part of a restructuring of the business which is said to be being supported by an unnamed financial backer.

In an announcement, dated December 18, the company revealed that the service division had suffered “due to difficult trading conditions and strong competition” in the market. “The medium-term outlook is that these specific service division-related difficulties will continue, and hence these services will be wound down,” it said.

Under the terms of the pre-pack administration, certain Capital Cooling liabilities will transfer to the administrator KPMG.

“The corporate restructuring will allow Capital Cooling to continue to operate as normal and build a strong and flourishing business for the future,” the company statement said. “It will secure jobs, preserve the company’s brand, provide the business with a far stronger balance sheet and protect the interests of its employees going forward.”

In its most recently available accounts for the calendar year 2015, Capital Cooling made a profit after tax of £347,000 on a turnover of £16.8m. At that time it had 141 employees.

James Anderson became MD in June after company founder Alister Mclean stepped back from the day-to-day running of the business.

Established in 1996, Capital Cooling grew swiftly from a local refrigeration business to a manufacturer, supplier, installer and maintainer of refrigeration equipment, operating across the UK. In addition to its Broxburn, Edinburgh headquarters, it operates from locations in Warrington and Northampton.

As well as manufacturing its own brand of commercial refrigeration equipment, it sells a range of equipment from the likes of Foster, True Refrigeration, Scotsman, Hoshizaki, ISA, Pastorkalt and Pastorfrigor.

Its achievements in recent years were recognised with Contractor of the Year awards from both RAC and ACR News magazines. Capital Cooling has also been recognised as one of Scotland’s top 300 SME’s for three consecutive years. On a personal level, founder Alister McLean received recognition for his contribution to the industry with both the Fred Jamieson and Kooltech awards for Industry achievement.

UPDATE 24/12/17: 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…

Related stories:

Capital Cooling secures £80,000 grant18 September 2015
UK: Broxburn-based commercial refrigeration equipment specialist Capital Cooling Ltd has secured an £80,000 grant from West Lothian Council to support its expansion. Read more…

Capital Cooling to build £1.5m extension30 April 2015
UK: Capital Cooling is building a new 4,000m² extension to its main site in Broxburn. Read more…

McLean back as md at Capital Cooling23 July 2014
UK: Alister McLean has returned to the helm of Edinburgh-based commercial refrigeration equipment manufacturer Capital Cooling, the company he founded 18 years ago. Read more…

Latest News

27th March 2024

Daikin redesigns Perfera R32 air conditioner

BELGIUM: Daikin Europe has announced a next generation All Seasons Perfera R32 air conditioner with redesigned indoor and outdoor units, making them easy to install and use.
27th March 2024

Press fittings go large

UK: Conex Bänninger has expanded its >B< MaxiPro range of press fittings with the addition of a 1⅝in fitting.
27th March 2024

Distilling the zero carbon benefits of heat pumps

IRELAND: An Irish distiller is now producing carbon neutral whiskeys following the installation of high temperature heat pumps from Finnish manufacturer Oilon.
27th March 2024

Daikin acquires Danish distributor

DENMARK: Daikin has acquired its Danish HVAC distributor BKF-Klima A/S from Swedish refrigeration and air conditioning wholesaler Beijer Ref.
26th March 2024

Low carbon specialist moves to new premises

UK: Strong growth has prompted Hull-based BREng, the building services company specialising in low-carbon air conditioning and heat pump projects, to move to new offices in the city centre.
26th March 2024

RSL acquired by Belgian insulation company IPCOM

UK/BELGIUM: RSL Group, the long-established UK and Ireland refrigeration and air conditioning distributor, has been acquired by IPCOM, a Belgium-based distributor and converter of technical insulation.