IR completes Frigoblock purchase
IRELAND: Ingersoll-Rand has completed the €100m acquisition of transport refrigeration company Frigoblock.
The completion of the deal, first reported by the Cooling Post in December, sees Frigoblock joining Ingersoll-Rand’s Thermo King business.
Founded in 1978, Frigoblock, with its annual revenue of around €41m, is the third largest European provider of transport refrigeration equipment. The company employs about 150 people at its headquarters in Essen and produces up to 2,500 units per year. More than 40,000 Frigoblock transport refrigeration systems are estimated to be in use in Europe.
“Our goal for this acquisition is to provide customers with a complete portfolio of solutions that are reliable, safe, efficient and environmentally responsible to meet their transport temperature control needs, including access to new hybrid and non-diesel options,” said Ray Pittard, president, Transport Solutions, Ingersoll Rand. “Frigoblock is a unique and pioneering company that will allow us to expand our offerings immediately in Europe. In the future we will provide customers around the world with this technology through our extensive global dealer network.”
Ingersoll-Rand to buy Frigoblock for €100m – December 9, 2014
IRELAND: Ingersoll Rand, parent company of Thermo King, is set to acquire Germany’s largest refrigerated transport company Frigoblock for €100m. Read more…