RSL acquired by Belgian insulation company IPCOM
26th March 2024
UK/IRELAND/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.
Established in London in 1946 and originally known as Refrigeration Spares Ltd, RSL operates from 10 depots in the UK and Ireland – Dublin, London, Manchester, Belfast, Cork, Galway, Glasgow, Coventry, and Exeter. RSL Group has a workforce of over 50 people and boasts sales exceeding €20m.
As a result of this transaction, RSL Ireland technical director Seamus Kerr has joined the board of the entire RSL Group and takes the position of managing director. The acquisition also sees the departure of current owners David Cherrill and Gerry McDonagh who, between them, lead RSL for an incredible 116 years.
IPCOM, headquartered in Melle, is described as a fast-growing European group of companies, specialised in the distribution and conversion of innovative solutions for thermal insulation, high temperature insulation, passive fire protection and acoustic insulation. It employs over 1500 people and delivers its solutions through a network of over 80 outlets across 18 countries in Europe.
Commenting on the acquisition, Seamus Kerr, who has been with RSL for over 27 years, said: “Over many years, our team has been servicing our customers with extensive know-how, engineering capabilities and a dedication for top quality service. This fits perfectly with IPCOM’s focus on distributing and fabricating tailor made energy efficiency solutions. Together, we can create an even stronger company that will create great opportunities for our customers and employees.”
Joining Kerr on the board is IPCOM CEO Remco Boerefijn. “Expanding our market share in the wider HVAC sector is a strategic priority for the development of the IPCOM Group,” he said. “It is our ambition to move towards offering a broad range of energy efficient solutions for installers, asset owners and OEM customers.”
Previous RSL Group co-owner Gerry McDonagh, who served as RSL Ireland managing director for over 57 years, said: “We feel that with IPCOM the RSL team will continue to grow and provide excellent customer service in the cooling and heating sectors. With energy savings and environmental improvements becoming increasingly important RSL and IPCOM will form a perfect partnership providing new solutions.”
Fellow co-owner David Cherrill, who also steps down, commented: “Refrigeration Spares Limited, the first of the RSL Group companies, was founded by my father, Alfred, in 1946. I have been proud to lead the RSL team in UK since 1965 while working alongside Gerry McDonagh and his successful team in Ireland.”
