CCCHE snaps up Kobol
SPAIN/ITALY: Spanish heat exchanger product manufacturer Kobol is the latest company to become part of CCC Holdings Europe (CCCHE) after its acquisition today from Grupo K Refrigeracion (Koxka).
The signing of the acquisition was made today by Arctic IRE SA, which itself only became part of CCCHE last month.
Founded in 1968, Kobol manufactures gas coolers, condensers, dry coolers, evaporators and condensing units, with a focus on ventilated units for natural refrigerant systems like CO2 and propane. Kobol’s 13,000m2 factory is based in Peralta, near the city of Pamplona, in Navarra Spain, and has approximately 50 employees.
“Adding such a complete portfolio of ventilated unit products tailored for natural refrigerant to our company is aligned with our passion for offering natural and energy efficient solutions to our customers,” commented CCCHE chairman and CEO of Greg Deldicque.
“Kobol also consolidates our entry in the Spanish market where the company is going to partner with Arctic to help promote their respective products as well as our Enex and Roen Est products. This acquisition shows how we are executing on our plan to acquire eight to ten companies over 2020-2023, on our way to creating a company with over €300m in revenues,” he added.
Kobol, along with Koxka, were saved from bankruptcy in 2015 by their management led by Daniel Manas and Oscar Leon.
“Daniel, Oscar, Kobol’s strong team, and CCCHE now aspire to triple Kobol’s sales over the next 4 years. We are going to follow a process similar to the one which allowed us to double the sales of Enex in 2021,” said Deldicque.
CCCHE was formed in 2018 by a group of former Carrier management personnel, led by Greg Deldicque, with the intention to invest in middle-market European HVACR companies with revenues between €10m and €150m. Deldicque is supported by long-time senior advisors Didier Da Costa and Eric Parrot.
Aside from Deldicque and his partners, Italmobiliare SpA, Luca and Alberto Pretto, a group of private investors led by Banor SIM, and Fondo Italiano per l’Efficienza Energetica SGR SpA. are also investors in CCCHE.
Since its formation, CCCHE has acquired Italian CO2 refrigeration company Enex, Italian heat exchanger manufacturer Roen Est and Spanish refrigeration and air conditioning plant builder Arctic IRE SA.
The group is now said to be in advanced conversations with several other potential acquisitions and targets announcing two to three new additions over the next six months.
Ignacio Razkin, CEO of Koxka, stated: “This partnership with CCCHE feels like a natural one as it will allow Kobol, Koxka, and CCCHE to grow. Koxka can now focus on its leading refrigerated cabinet business, with its historical focus on natural refrigerants and energy efficiency. Koxka and CCC will also explore offering turn-key solutions in key European countries.”
Daniel Manas, CEO of Kobol and long-term leader at the company, said: “CCCHE offers the support Kobol needs to grow. I feel that we are at the beginning of a new chapter in the history of Kobol, allowing to develop quickly both inside and outside of Spain, leveraging our strong history and customer relationships dating back to Kobol’s creation in 1968.”
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Kgroup becomes Koxka – 15 January 2019
SPAIN: Refrigeration equipment manufacturer the Kgroup has changed its name to Koxka, its leading brand. Read more…
Koxka/Kobol plants to reopen next month – 29 September 2015
SPAIN: The K Refrigeration Group plans to restart production at both the Koxka refrigeration factory and the Kobol heat exchanger plant next month. Read more…
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SPAIN: A group of managers of the bankrupt Kobol and Koxka refrigeration factories are calling on former colleagues to help find the €1m needed to restart production. Read more…