TEFCOLD Group has signed an agreement to acquire Interlevin Refrigeration as of February 1, 2018.
Both TEFCOLD and Interlevin are operating within the commercial cooling market with plug-in products.
“The acquisition of Interlevin will help us increase our supplier base and logistical set up in Europe and hence allow us to serve our customers even better going forward,” says TEFCOLD CEO Jesper Kirkeby Hansen. “We have worked with Interlevin for almost 30 years and are very comfortable that this acquisition will strengthen both companies, our customers and our suppliers.”
Interlevin Refrigeration Ltd. is a 50-year-old privately owned company, operating out of Castle Donington in the UK. Interlevin has 38 employees and is selling approximately 40,000 plug-in cooling units per year. The divestment of Interlevin is part of a planned generation change process.
“After having run the company successfully for many years we are happy to pass the ball over to TEFCOLD to take the company into the future,” states Dennis Hart, CEO of Interlevin. “We cannot think of a better owner for Interlevin, its employees and customers, than TEFCOLD. We share many values and have similar business models.”
TEFCOLD is a 30-year-old Danish family owned company selling more than 100.000 units per year out of its 3 warehouses in Europe and direct from factories. TEFCOLD has 30 employees.
“Acquiring Interlevin is an important part of our growth ambition,” says owner of TEFCOLD Torben L. Christensen. “The acquisition brings us closer to our customers, increases our already broad group of products and provides the group with a number of excellent employees.”
In most respects Interlevin and TEFCOLD will continue with “business as usual” under the new common ownership.
“Interlevin and TEFCOLD are two very successful companies in the cooling industry and we hope we can continue with the same suppliers and customers going forward,” says Jesper Kirkeby Hansen, CEO of TEFCOLD. “In the short term, there will not be many changes but in the longer term we are planning to integrate IT systems, product development and logistics while keeping sales and customers separate.”
TEFCOLD Group is a newly established company with the same owners as TEFCOLD A/S. Interlevin will be run as sister company to TEFCOLD A/S.
The parties have agreed not to disclose the purchase price for the shares.