CCC Holdings Adds Gas Coolers, Evaporators to NatRef Portfolio With Acquisition of Kobol

CCC Holdings Europe S.p.A. (CCCHE), an Italian holding company focused on the HVAC&R industry, has acquired Kobol, a Spanish manufacturer of ventilated units like gas coolers, condensers, dry coolers, evaporators and condensing units for CO2 (R744) and propane (R290) refrigeration systems.

CCCHE has acquired Kobol from Grupo K Refrigeracion S.L. (also known as Koxka). The acquisition was announced in December and made through CCCHE subsidiary Arctic, which was itself acquired by CCCHE in November 2021.

Kobol was founded in 1968 and is based near Pamplona in northern Spain. The company has around 50 employees and a 13,000m2 (139,931ft2) factory.

“It is exciting to welcome Kobol and its strong team of employees to our group,” said Greg Deldicque, Chairman and CEO of CCCHE. “Adding such a complete portfolio of ventilated unit products tailored for natural refrigerants to our company is aligned with our passion for offering natural and energy- efficient solutions to our customers.”

“Kobol has been serving its customers with cutting- edge technology for over 50 years. The large majority of its sales comes from recurring clients, proof of the high-quality, performance, and customer support for its products,” Deldicque added.

“Kobol also consolidates our entry in the Spanish market where the company is going to partner with Arctic to help promote their respective products as well as our Enex and Roen Est products.”

Ambitious plans

CCCHE has plans to acquire eight to 10 companies in the 2020-2023 period, aiming to create a company with over €300 million (US$340 million) in revenues. The holding company focuses on “middle-market” European HVAC&R manufacturers with revenues between €10 and €150 (US$11.3 to and US$170) million. The ambition for the Kobol acquisition is to triple sales over the next four years. 

"CCCHE offers the support Kobol needs to grow,” said Daniel Manas, CEO of Kobol. “Given the complementarity of product portfolios, I am excited about the prospects this alliance offers our customers, our suppliers, our company, and our employees.

CCCHE’s expansion also includes the acquisition of CO₂ refrigeration pioneer Enex, which came under the CCCHE umbrella in February 2020.

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