Arbo moves into Italian refrigeration sector28th October 2022
ITALY: Arbo, an Italian distributor of spare parts and accessories for heating and air conditioning systems, has acquired a majority stake in refrigeration component company Verco Milano Srl.
Current Verco shareholders Stefano and Roberto Veronesi will remain with a minority stake and will continue to fill their leadership roles of the company.
The acquisition of Verco is Arbo’s first step in the commercial refrigeration sector, a sector in which it says it aspires to become a national leader.
Based in Fano, Arbo operates through a network of 45 points of sale in Italy, plus three in Spain and one in England. It has around 250 employees and a turnover of around €85m. The company was acquired by investment firm NB Renaissance in June.
“We see great potential in commercial refrigeration also driven by the convergence trend of hot and cold technology on heat pumps, which we think it will lead to significant customer synergies and development opportunities in the coming years,” said Arbo CEO Giovanni Casali.
Founded in 1974, Verco operates with two warehouses, in Milan and in Seregno, and a total space of 2,500m2.