FINLAND: Caverion, the Finnish service and maintenance company, has completed the acquisition of the Huurre Refrigeration Solutions business of the Swedish Huurre Group.
The agreement, first announced on October 29, received clearance from the Swedish competition authorities on November 13. The purchase price has not been not disclosed but was paid in cash.
Huurre Refrigeration Solutions is a leading supplier of CO2-based refrigeration systems and related refrigeration automation solutions and has operations in Finland and in Sweden. Revenue in 2018 was €48m last year.
Caverion says the acquisition of Huurre Refrigeration Solutions supports its growth in services and further strengthens its offering in the cooling business. Last year Caverion acquired Jetitek, another Finnish CO2 refrigeration specialist.
After the completion of the acquisition, Caverion’s combined revenue in cooling, including refrigeration, will be around €130m.