CCC Holdings Europe S.p.A. (“CCCHE”), a financial company based in Italy, specializing in the heating, ventilation, air conditioning and refrigeration (HVACR) sector, today announced the acquisition of Roen Est S.p.A. (“Roen Est”), a leading Italian manufacturer in the field of heat exchangers and ventilation units for the industrial and commercial segments of HVACR in Europe. Roen Est, with its approximately 400 employees and two offices in Italy and Slovakia, recorded a turnover of 35 million euros in 2019. Since 1983, the year of its foundation, Roen Est has positioned itself on the market as Europe’s leading manufacturer of customized batteries and ventilation units, with about two thirds of sales related to exports. Roen Est’s range of natural refrigerant products and the highly efficient design contribute to reducing the environmental impact and fighting global warming.
“The HVACR industry in Europe offers great opportunities for growth and consolidation,” said Greg Deldicque, President and CEO of CCCHE. “We are looking forward to working with Roen’s strong team and thus stimulating further development of the company. This is only the first: in fact, we have planned to acquire three to five companies in the next 24 months, along a path that will lead us to create a group capable of boasting a turnover of more than 200 million euros. “
CCCHE deals with investments in European companies belonging to the mid-market HVACR sector with turnover between 10 and 150 million euros.The investments concern companies for OEM production, service and installation, as well as companies active in the distribution sector, under the guidance of the entrepreneur Greg Deldicque, a veteran of the sector, and with the support of senior consultants Didier Da Costa, Eric Parrot, and Jean-Pierre Xiberras. Other investors, in addition to Mr. Deldicque and his partners, are Italmobiliare S.p.A., Luca and Alberto Pretto.
“CCCHE’s clear interest in mid-market companies in the HVACR industry coupled with substantial operational capability brings substantial benefits to its affiliates, their management and potential buyers,” added Deldicque.
Carrier of solid values and a collaborative and ethical approach towards all its financial operations, CCCHE promotes investments in companies at every stage of the economic cycle, including the growth phase, transformations, turnarounds (negative EBITDA or cash flow ), spin-offs and mergers.
CCCHE is already negotiating the acquisition of several other companies and is attentive to new opportunities.