ITALY: Commercial refrigeration equipment manufacturer, Frigomeccanica, has sold 75% of its equity to private investment companies Fondo Agroalimentare Italiano and Fondo Cresci al Sud (Invitalia).
Established in 1973 by the Di Serafino family, Frigomeccanica produces refrigerated equipment, furniture and
technological components for ice cream, coffee, pastry, and retail shops under the Frigomeccanica, Stiltek, Arredamenti DeBlasi, officine 900 and Frimar brands.
Frigomeccanica is led by Enzo di Serafino, son of one the founders, and operates from three state-of-the-art facilities totaling 42,000m² in the south and center of Italy. In 2020, the group employed 155 people with sales of more than €20m, more than 20% of which was dedicated to exports.
The investment will fund organic growth with the expansion of the sales network into Northern Italy, exports into specific countries and an extension of the product range.