SPAIN: Koxka, the rejuvenated commercial refrigeration equipment manufacturer, has acquired its two manufacturing plants and is predicting a sales increase of 27% this year to €37m.
Earlier this year, the company, which was bought out of administration in 2015, received a cash injection of €6m from its partners and the Spanish public body SEPIDES.
In March, Koxka also acquired its two manufacturing plants in Pamplona and Peralta. The 30,000m2 Pamplona plant, which manufactures remote and plug-in refrigeration cases, was acquired by financing from ACOFI, the French debt fund specialising in the real estate sector.
The 15,000m2 Peralta refrigeration equipment factory has been acquired by Spanish real estate company Navarra Suelo y Vivienda (NASUVINSA), providing Koxka with a long-term lease and purchase option.
Originally founded in 1966, Koxka was acquired by Hussmann International in 1999. Kobol, which operated the Peralta factory, was acquired the same year, and integrated into what then became Hussmann Koxka.
The company collapsed into administration in 2014 amidst employee claims of malpractice by its then new owners American Industrial Acquisition Corporation (AIAC).
After a year standing idle, production was re-started in 2015 when a group of partners started a new business project with the company’s assets and brands, repositioning the company, demonstrating the strength of the brand, and reaffirming its hallmarks.
The company’s employees have also shown their commitment and support for the current project by extending the repayment period for the loans they originally granted to help resurrect the company.
Koxka/Kobol plants to reopen next month – 29 September 2015
SPAIN: The K Refrigeration Group plans to restart production at both the Koxka refrigeration factory and the Kobol heat exchanger plant next month. Read more…
€1m needed to save Koxka/Kobol plants – July 29, 2015
SPAIN: A group of managers of the bankrupt Kobol and Koxka refrigeration factories are calling on former colleagues to help find the €1m needed to restart production. Read more…