FRANCE: Blue Pearl Energy has acquired Belgian industrial and commercial refrigeration contractor Refreco as it expands its network of European energy services firms.
Paris-based Blue Pearl Energy teamed up with the DWS Pan-European Infrastructure Fund III fund at the end of last year with the intention of investing up to €600m in some twenty SMEs over a five-year period.
With this new strategic partnership, Blue Pearl continues to strengthen its position in Belgium and Luxembourg, two of its key markets, and for the first time enters the commercial and industrial refrigeration market. REFRECO is the sixth SME to join the Blue Pearl platform, and the third in Belgium.
Discussing the acquisition, Refreco co-CEO Marc Ilari talked of the “key challenges” facing the refrigeration business in the energy transition.
“It is now paramount to allow our customers to reduce the consumption of their refrigeration installations, both in the commercial and industrial fields, in particular supermarkets. We must also adapt to new types of refrigerants that use cleaner gases than CO2 to preserve our environment, as is required by the European F-gas Directive.
“Finally, the ability to finance the installation on behalf of the customer has become a fundamental factor in the purchase decision,” he added.
“Our ambition is to be the partner of choice for our customers and to accompany them through their energy transition. By bringing together complementary SMEs, the Blue Pearl platform can offer complete and competitive energy solutions,” explained Eric de Seguins Pazzis, co-Founder and CEO of Blue Pearl.
Active in the commercial refrigeration and HVAC sectors for over 10 years, Refreco is the sixth SME, and the first commercial and industrial refrigeration company to join the group.
This latest acquisition follows last month’s purchase of Lyon-based HVAC contractor Climacool. In March, Blue Pearl Energy acquired French HVAC contractor, Ventimeca Group.