EPTA ANNOUNCES THE ACQUISITION OF COLD SERVICE IN THE UNITED KINGDOM
Milan, July 1st , 2014
Epta announces the acquisition of Cold Service Group Limited, a company that specialises in the design, installation and maintenance of turnkey refrigeration and air-conditioning systems in the United Kingdom. This is a significant strategic transaction for the Group which perfectly positions EPTA as National Service provider, in line with retail industry increasing demand of National coverage. Joint skills and resources will also provide a high quality response operating with optimum performance and reliability.
The Head Office of Cold Service is in Ringwood, Hampshire, and the Company has been providing retailers and other commercial refrigeration customers, excellently designed, highly efficient systems for over 65 years; supported by more than 100 refrigeration technicians located throughout the South of the UK.
A well-established business with strong local roots, Cold Service is organised in four divisions (Commercial, Local, Central and Distribution) and has contracts with such prominent clients as Harrods, Fortnum & Mason, Greggs, Morrisons, One-Stop and Pret a Manger.
Epta, already established in the UK with George Barker, the leading supplier in the design and production of refrigerated cabinets, together with an established Contracting and Service & Maintenance business and Natural Refrigerant solutions and training - has entered into this agreement with the intent to encourage important synergies between the two British brands, with growth opportunities for the entire Group.
In Sergio Chiostri's words as Epta's Chairman and Managing Director: “One year after the merging of Iarp with the Group, we are delighted to announce the acquisition of Cold Service. This agreement expands our portfolio and aims to optimise the resources used, in the frame of an expansion plan that will integrate the skills and technological know-how of our two companies”.
“Both parties strongly sought this merger, built on a common value system centred on people, high-quality service and long-term development plans. The strength of a company like Epta represents an important competitive advantage for us, complementing our range and expanding our market share”, concludes Peter Grimes Chairman of Cold Service.
The closing of the acquisition is final and will be effective 1st July 2014.