CCC Holdings Europe S.p.A. acquires Roen Est S.p.A

MILAN, 31 January, 2020 -- CCC Holdings Europe S.p.A. (“CCCHE”), a holding company based in Italy, focused on the Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) industry, announced today the acquisition of Roen Est S.p.A. (“Roen Est”), a leading Italian manufacturer of heat exchangers and ventilation units for the commercial and industrial segments of the HVACR industry in Europe. Roen Est had €35 million of revenues in 2019, approximately 400 employees, and two factories across Italy and Slovakia. Since its founding in 1983, Roen Est has been a leader in custom coils and ventilation units across Europe, with approximately two-thirds of its sales occurring outside of Italy. Roen Est natural refrigerant product offering and high-efficiency designs help reduce carbon footprint and combat global warming.

“The HVACR industry in Europe presents large opportunities for growth and consolidation,” said Greg Deldicque, Chairman and CEO of CCCHE. “We look forward to working with Roen Est’s strong team to further develop the company, the first of our planned acquisition of three to five companies over the next 24 months, on our way to creating a company with over €200M in revenues.”

CCCHE makes control investments in middle-market European HVACR companies with revenues between €10 milion and €150 million. Investments span OEM/manufacturing, service/installation, and wholesale/distribution companies. It is led by entrepreneur Greg Deldicque, an HVACR industry veteran, and supported by long-time senior advisors Didier Da Costa, Eric Parrot, and Jean-Pierre Xiberras. Aside from Mr. Deldicque and his partners, Italmobiliare S.p.A. and Luca and Alberto Pretto are investors in CCCHE.

“CCCHE’s clear focus on HVACR middle-market companies and operational capabilities provide strong benefits to its companies, their management teams, and potential sellers,” Deldicque added.

CCCHE welcomes investments in companies at all stages of their business cycles, including business growth, transformations, turn-arounds (including negative EBITDA or free cash-flow), carve-outs and roll-ups. It has strong values and takes a collaborative and ethical approach to all its investments.

CCCHE is already in advanced conversations with several other potential acquisitions and welcomes new opportunities.

Giovanni Bordin, Roen Est CEO since 2012, stated "With CCCHE begins an exciting phase of evolution and growth. Together, we aspire to grow the company both organically and through acquisitions, leveraging Roen Est’s strong history and customer relationships dating back to its creation in 1983".

Gattai Minoli Agostinelli & Partners acted as advisors to CCCHE. Alantra, and Orrick, Herrington & Sutcliffe, (Europe) LLP acted as advisors to the seller.

For more information: https://coldchaincapital.com.

###MEDIA ONLY CONTACT

Greg Deldicque

CCC Holdings Europe S.p.A.

+34 634 908 925

gdeldicque@coldchaincapital.com