Italian-based OEM Epta ‒ a multinational group specializing in commercial refrigeration ‒ has announced the acquisition of Heifo’s refrigeration activities to strengthen its German presence as a provider of sustainable and energy-efficient solutions.
The transaction ‒ involving over 120 employees and worth €25 million (US$26.7 million) in 2022 ‒ ensures the continuation of day-to-day business operations with the creation of a new company, Heifo Kältetechnik, that is 100% owned by Epta, the OEM said in a press release. The deal does not include Heifo’s Professional Food Solution business.
As a fourth-generation family business based in Osnabrück, Germany, Heifo brings 160 years of experience in industrial and commercial refrigeration services, Epta said. “Thanks to Heifo’s expertise, Epta will further strengthen its role as a provider of sustainable and energy-efficient solutions for commercial refrigeration in Germany while broadening its service offering to large-scale retail customers, including industrial systems and engineering,” the press release explained.
“By welcoming Heifo’s refrigeration activities into the Group, which are complementary to the business approach strategy pursued at Epta, we see on the horizon numerous opportunities for growth and success as a full-service provider of reference in the market,” said Marco Nocivelli, Epta’s Chairman and CEO.
Epta expects Heifo’s “structured network of technicians and expertise” to enhance its position as a “one-stop-shop provider for the retail segment and the food & beverage sector.”
“The inclusion of Heifo Kältetechnik in the international group Epta will allow the creation of new synergies and the continuous improvement of installation and services activities to support green transitions,” Epta said.
“By merging Heifo´s refrigeration activities with the Epta Group, we achieve a strong and sustainable market position in Germany for the future,” said Martin Rüterbories, Heifo’s Managing Director and a Shareholder.
Heifo brings its expertise in air-conditioning, ventilation and industrial refrigeration technologies to the transaction, Rüterbories added. “Epta’s expertise in digital and sustainable technologies, with their focus on training will be a great opportunity for the growth of [Heifo] employees.”
The deal still needs to be approved by the German Antitrust Authority. The OEM expects approval by the end of 2023.
Growth plan
“This acquisition is a further step in our project of geographic expansion in regions with high growth potential, such as Germany, and the development of more specialized skills within the Group,” said Nocivelli. Heifo is the ninth acquisition made by Epta in the last four years.
The Heifo acquisition follows the July announcement of a joint venture with Viessmann Refrigeration Solutions, which is the commercial refrigeration division of German manufacturer Viessmann Group operating in Central and Northern Europe. The joint venture is designed to deliver “a complete natural offer that covers the entire product lifecycle,” said William Pagani, Chief Marketing Officer for the Epta Group, in an R744.com article.
Last March, Epta announced the inclusion of California-based Energy Recovery’s pressure exchanger device in its Extra Transcritical Efficiency (XTE) technology to help boost the efficiency of Epta’s transcritical CO2 (R744) refrigeration systems in warm ambient climates.
According to its company website, Epta has a presence on five continents and works to meet the needs of all segments of commercial refrigeration, with €1.4 billion (US$1.5 billion) in revenue in 2022.
“The inclusion of Heifo Kältetechnik in the international group Epta will allow the creation of new synergies and the continuous improvement of installation and services activities to support green transitions.”
Epta
