Roen Est buys Spanish ammonia specialist
23rd November 2021ITALY: Heat exchanger manufacturer Roen Est has acquired Spanish refrigeration and air conditioning plant builder Arctic IRE SA.
Founded in 1997 and based in Madrid, Arctic is one of the European technology leaders in ammonia refrigeration and commercial air conditioning products, and also offers sub-critical CO2 and HFO products. It has approximately 40 employees, and exports over 40% of its products.
Roen Est was acquired by private equity investor CCC Holdings Europe (CCCHE) in 2020. CCCHE was formed in 2018 by a number of former Carrier air conditioning and refrigeration managers with a focus on investing in HVACR companies.
“Adding ammonia natural refrigerant to our offering is aligned with our passion for offering natural and energy efficient solutions to our customers,” commented CCCHE chairman and CEO Greg Deldicque.
“Arctic also marks our entry in the Spanish market where the company is going to help us promote our Enex and Roen Est products. This acquisition shows how we are executing on our plan to acquire six to eight companies over 2020-2023, on our way to creating a company with over €200m in revenues.”
Deldicque added that the plan now is to triple Arctic’s sales over the next four years. “We are going to follow a process similar to the one which allowed us to double the sales of Enex in 2021,” he said.
CCCHE is said to be in advanced conversations with several other potential acquisitions and expects to announce two further new additions over the next four months.
Related stories:
CCC Holdings Europe receives €18m investment – 29 September 2020
ITALY: CCC Holdings Europe, which purchased CO2 refrigeration company Enex and heat exchanger manufacturer Roen Est earlier this year, has received €18m from the Italian Energy Efficiency Fund II (IEEF II). Read more…
CCCHE snaps up CO2 refrigeration pioneer Enex – 15 February 2020
ITALY: Private equity investor CCC Holdings Europe (CCCHE) has followed up the acquisition of Roen Est by signing a deal to buy the pioneering Italian CO2 refrigeration company Enex SrL. Read more…
HVACR investor buys Roen Est – 6 February 2020
ITALY: Roen Est, a heat exchanger manufacturer in Ronchi dei Legionari, near Trieste airport, has been acquired by private equity investor CCC Holdings Europe (CCCHE). Read more…
Private equity firm has HVACR focus – 19 September 2018
USA: A number of former Carrier management personnel are involved in a new private equity firm focused on the HVAC and refrigeration market. Read more…
