ITALY: CCC Holdings Europe, which purchased CO2 refrigeration company Enex and heat exchanger manufacturer Roen Est earlier this year, has received €18m from the Italian Energy Efficiency Fund II (IEEF II).
Formed by former Carrier management personnel in 2018 with the intention of investing in the HVAC and refrigeration market, CCC Holdings Europe acquired both Roen Est and Enex Srl in February.
Commenting on the new investment, Greg Deldicque, chairman and CEO of CCCHE, said: “We are honoured to welcome such a prestigious institutional investor as one of our shareholders, alongside our original investors Italmobiliare SpA, and Luca and Alberto Pretto.”
Deldicque added that the company was now well positioned to finalise its equity commitment target of €75m-€100m by early 2021. “This capital increase allows us to execute actions planned to significantly grow the two companies we have already acquired, as well as execute our next acquisition, on our way to creating a company with over €200m in revenues.”
Andrea Marano, a founder and Co-CEO of IEEF II fund management company Fondo Italiano per l’Efficienza Energetica SGR, said: “CCCHE first two companies, Enex Srl and Roen Est SpA, have energy-efficiency leading technologies in key products such as refrigeration racks, air conditioning chillers, heat pumps and heat exchangers. Helping them grow will have significant impact on Europe’s CO2 footprint.”
CCCHE makes control investments in middle-market European HVACR companies with revenues between €10m and €150m. It is said to be in advanced conversations with several other potential acquisitions.
CCCHE snaps up CO2 refrigeration pioneer Enex – 15 February 2020
ITALY: Private equity investor CCC Holdings Europe (CCCHE) has followed up the acquisition of Roen Est by signing a deal to buy the pioneering Italian CO2 refrigeration company Enex SrL. Read more…
HVACR investor buys Roen Est – 6 February 2020
ITALY: Roen Est, a heat exchanger manufacturer in Ronchi dei Legionari, near Trieste airport, has been acquired by private equity investor CCC Holdings Europe (CCCHE). Read more…
Private equity firm has HVACR focus – 19 September 2018
USA: A number of former Carrier management personnel are involved in a new private equity firm focused on the HVAC and refrigeration market. Read more…