Ambienta invests in HVACR market20th January 2024
ITALY: Asset management firm Ambienta has acquired a majority stake in the commercial and industrial refrigeration contractor businesses of Frigoveneta SpA and Frigoveneta Service Srl.
Founded in 1980 and based in Villa Bartolomea (Verona), Frigoveneta deals with the design, construction and sale of centralised refrigeration systems mainly intended for the large-scale retail sectors and cold logistics.
Company founders Giovanni Degan, Roberto Mambrin and Paolo Dall’Aglio will maintain a minority stake in the company.
Ambienta private equity partner Francesco Lodrini commented: “This is our first investment in the HVAC+R sector, a market clearly driven by environmental trends and on which Ambienta has built strong internal expertise over time.”
Headquartered in Milan, with offices in London, Paris and Munich, Ambienta is focused on investing in private and public companies driven by global environmental trends.
In a statement, Ambienta said: “In a highly fragmented market, Frigoveneta differentiates itself from the competition thanks to its technical skills and is well positioned to grow further in Italy and internationally, both internally and through acquisitions. Ambienta will support the company in achieving the goal of become the leading independent provider of centralised refrigeration system solutions in Italy, while simultaneously building a structured presence on the European market.”