UK: Filta Group Holdings, a provider of services to commercial kitchens, has sold its refrigeration and HVAC maintenance and repair business to Scotia Cooling Solutions.
The sale for a cash consideration of up to £125,000 comprises Filta Refrigeration’s net assets of £99,719 and additional payments relating to finance leases. Livingston-based Scotia Cooling Solutions has also taken on all refrigeration and HVAC related engineers, vehicles and current contracts.
Filta Group says that its Filta Refrigeration business is no longer a core activity and the sale will allow management to focus resources on growing the company’s core offerings.
Formed in 2004 and formerly known as Filta Group Chemi-Call Plus and Nationwide Coldroom Services, the company changed its name to Filta Refrigeration in February 2017. Its latest figures record revenues of £1.6m and a gross profit of £0.4m in the year ended 31 December 2016.
Scotia Cooling Solutions has signed a three-year contract to sub-contract all its seal replacement work to Filta, which is estimated to generate revenue in excess of £100,000 in the first full year.
Scotia Cooling Solutions Ltd was formed in 2005 to provide sales, service and maintenance of commercial refrigeration and air conditioning equipment across Scotland.
Its national call centre and warehouse facility is based in Livingston, West Lothian, where it holds a large range of commercial refrigeration and air conditioning products. Clients include Starbucks, Martin McColl, NHS, David Lloyd Leisure and the University of St. Andrews.