ITALY: Heat exchanger solution maker Lu-Ve is to get a 75% stake in Refrion Srl, the Italian producer of air-cooled condensers, dry coolers and coils, for €8.1m.
Refrion was established in 2002 by Daniele Stolfo and is centered in Flumignano, 70km north west of Trieste. Boasting gross sales of €26n in 2021, the business is active in giving the professional air conditioning, knowledge centre, method cooling and industrial refrigeration marketplaces. It is also a main provider of warmth exchangers for nuclear plants and the incorporation of energy-conserving adiabatic technological know-how. All around 90% of the company’s production is for export, predominantly to European marketplaces.
Lu-Ve has the choice to acquire the remaining 25% share over the subsequent 5 years. In the meantime, the remaining shares will continue being with founder Daniele Stolfo and Felix Siegfried Riedel, just one of the principal administrators of the Refrion Team. Stolfo will preserve the place of CEO of Refrion, and will be part of Lu-Ve’s item advancement committee.
“Refrion’s specific awareness to reducing environmental impacts is in line with the sustainability method of Lu-Ve Team, which due to the fact its basis has adopted technological answers and produced products and solutions for ‘green cooling,” stated Lu-Ve president Iginio Liberali.
Refrion’s Daniele Stolfo, added: “With the industrial approach that we have shared, Flumignano di Talmassons will turn out to be the creation hub of adiabatic coolers, also producing further more specialties these as that of the nuclear sector, which is now really topical.”
Final 7 days, Lu-Ve announced an more €40m finance financial loan from Banco BPM to assistance its sustainable investments.
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