Area Cooling Solutions sold to IPCOM

SPAIN: Barcelona-based refrigeration and air conditioning supplier Area Cooling Solutions has been acquired by Belgian company IPCOM and has finalised the sale of its Polish condensing unit factory to Panasonic. 

IPCOM specialises in the distribution of thermal and acoustic insulation, and passive fire protection. It employs over 1600 people and delivers its solutions through a network of over 100 outlets across 20 countries in Europe.

Area Cooling Solutions was founded in 1986 in Barcelona, expanding over time across Europe and established presence in Poland in 1995. It has a workforce of around 45 people and boasts annual sales of over €20m.

Following the acquisition, Josep Ventura will continue leading Area Cooling Solutions as MD.

Meanwhile, Area Cooling Solutions has separated its Polish compressor and component distribution business from its AREA Cooling Solutions Sp zoo manufacturing business in advance of the latter’s sale to Panasonic (Panasonic completes Area Cooling purchase). The new distribution company, Cooling Solutions Sp zoo, will continue operations from its existing site in Warsaw.