Ingersoll-Rand buys UK chiller firm ICS
IRELAND/UK: Ingersoll-Rand plc, owner of Trane brand chillers, has acquired UK-based ICS Cool Energy for an undisclosed sum.
Southampton-based ICS Cool Energy specialises in the temporary rental of chillers for commercial and industrial buildings across Europe. It also sells, permanently installs and services high performance temperature control systems for all types of industrial processes.
The company was originally formed in 1989 by Jeff Spolnik and Phil Wilson as Industrial Cooling Systems. In 2004, the company merged with Industrial Cooling Services, as well as ICS Tricool Thermal, ICS Air Conditioning, ICS Heat Pumps, ICS Service, to form ICS Cool Energy.
In the last recorded accounts for 2016, ICS registered a turnover of £42m with an operating profit of £8m.
“This acquisition is a strong fit with our Trane business, and strengthens our growth plans and ability to serve a broader range of customers in the important European market,” said Ingersoll Rand executive vice president Dave Regnery.
Simon West, ICS Cool Energy’s group CEO, said: “We are excited to be part of Ingersoll Rand because of its market leadership, strong values and commitment to customers. Our track record of customer service, our footprint and our capabilities in temporary rental services are complementary to the Trane business.”
The company is headquartered in Southampton and has an extensive footprint in the UK, France, Germany, the Netherlands and Switzerland.
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