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CCCHE snaps up CO2 refrigeration pioneer Enex

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.

Founded in 2004, Enex is a leader in natural refrigerant refrigeration and commercial air conditioning and heating systems, having installed over 1,500 CO2 transcritical systems to date. Based in Treviso, Enex sales were nearly €10m in 2019. It has approximately 50 employees.

CCCHE was founded in 2018 by a number of former Carrier personnel with the intention  of investing in middle-market HVACR companies with revenues between €10m and €150m. It made Italian heat exchanger manufacturer Roen Est its first acquisition earlier this month and is reported to be currently in discussions with four other companies.

“It is exciting to sign this second acquisition in a month, executing on our plan to acquire four to six companies over 2020-2021, on our way to creating a company with over €200m in revenues,” said Greg Deldicque, chairman and CEO of CCCHE. “Enex is a technological gem which is transforming the world of refrigeration racks, and HVAC natural chillers and commercial heat pumps.”

Enex is led by founder and CEO Sergio Girotto, who designed the first CO2 transcritical supermarket system in 1999, and carried out the first installation in a large supermarket in 2001.

CCCHE chairman and CEO Greg Deldicque is supported by long-time senior advisors Didier Da Costa, Eric Parrot, and Jean-Pierre Xiberras. Aside from Mr. Deldicque and his partners, Italian investment holding company Italmobiliare SpA and Luca and Alberto Pretto are investors in CCCHE.

Enex’s founder Sergio Girotto said: “CCCHE offers the support Enex needs to grow both organically and through acquisitions. I feel that we are at the beginning of a new chapter in the history of Enex, exploiting commercially all the innovation developed over the last years.”

Related stories:

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…

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