Case Study: Coolmation
- Deal size:
- Company Sales & Acquisitions
- Mechanical and Engineering
- Deal completed:
- January 2013
Meridian Corporate Finance LLP (“Meridian”) advised the shareholders of the Coolmation group of companies (“Coolmation”) on the cross border sale to private equity backed Swegon Limited, a subsidiary of Swegon AB (“Swegon”).
Coolmation, based in Ringwood, has over 30 years’ experience in the supply, installation, service and hire of chillers, heat pumps, cooling equipment and systems, for industrial, commercial and HVAC applications.
Coolmation has five offices nationwide, employs 70 staff and has a turnover of approximately £8 million, making it one of UK’s fastest growing chiller and air conditioning companies.
Swegon Limited is the UK subsidiary of Swedish ventilation and indoor climate systems manufacturer Swegon AB. Swegon AB is backed by the Swedish investment company AB Latour. The Swegon group of companies has 1,350 employees and has a turnover of €280 million.
Gary Franklin, Coolmation’s founder and exiting majority shareholder said "When reaching the decision to sell my business of 35 years, I was extremely fortunate to be introduced to Meridian, and it was clear from the start that I had chosen well.
Meridian brought about a highly successful transaction by providing a total solution to the sale of my business. A highly professional, thoroughly hard working corporate finance team, who steered me through to the conclusion of a life changing deal. I would recommend them to anyone about to sell their business."
Meridian partner Darren Thompson said “We worked hard to research and identify global acquirors and then led the negotiations in the termination of a key agreement with an Italian supplier, which allowed us to unlock the transaction.
There is a great strategic fit with the Swedish acquirer and we were delighted to facilitate the retirement of the owner.