Enex buys Italian Emicon Group
ITALY: Enex Technologies has further expanded its portfolio of “natural” refrigerant focused companies with the acquisition of the Italian Emicon Group and its subsidiaries Emicon AC, Hidros and Ethra Tech.
Founded in 1984, the Emicon Group boasts a range of technologies including heat pumps, close controls for data centres, dehumidification equipment, and chillers with a focus on propane as a natural refrigerant.
The Emicon Group will join a group combining CO2 refrigeration company Enex, Italian heat exchanger manufacturer Roen Est, Spanish companies Arctic and Kobol, and the French businesses Morgana and Samifi. Enex, itself, was acquired by private equity investor CCC Holdings Europe in 2020.
Emicon has four main factories in Italy – Meldola, Massa Martana, Piove di Sacco, and Cona – covering over 22.000m2, with approximately 200 employees and annual sales of more than €60m.
“This acquisition shows how we are executing on our plan to acquire eight to 10 companies over 2020-2023, on our way to creating a company with over €300m in revenues,” said Enex Technologies’ chairman Greg Deldicque.
He added that Enex Technologies was looking to double the Emicon Group’s sales over the next four years. “We are going to follow a process similar to the one which allowed us to triple the sales of Enex over the past two years,” he said.
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