Frigoveneta acquires Italian contractor Freddo

ITALY:  Frigoveneta, the Verona-based commercial and industrial refrigeration contractor, has acquired fellow Italian contractor Freddo & Co Srl.

Founded in 1998 and headquartered in Pianezze (Vicenza), Freddo focuses on the design, installation, and maintenance of centralised refrigeration systems for refrigerated warehouses and process-cooling applications.

This is Frigoveneta’s third add-on Italian investment since asset management firm Ambienta acquired a majority stake in the business last year. It followed up February’s acquisition of Mercuri Angelo Frindes with the purchase of Bonera Refrigerazioni Srl in July.

Freddo serves a diversified portfolio of customers primarily in the food industry, with a solid positioning across segments including dairy, bakery, and cured meats. It is reported that current owners Michele Piovesan, Roberto Canova, and Enrico Signorini, will retain key roles and reinvest in the platform alongside Ambienta.

Founded in 2007, Ambienta manages over €4bn in assets.