Deal Background
Brooktherm Refrigeration, provider of industrial refrigeration and HVAC services, has been acquired by Daikin Applied (UK).
Brooktherm Refrigeration, established in 2000, is a leading provider of industrial refrigeration and HVAC services, primarily across the North West. Brooktherm provides full scope turn-key projects and services that includes design, supply and installation along with bespoke maintenance.
Daikin Applied (UK) is part of a wider European group and their Rome-headquartered parent company, Daikin Applied Europe S.p.A, specialises in the design and production of chillers, heat pumps, air handling units, compressors and inverter drives. The acquisition looks to strengthen Daikin’s service and maintenance capability across the UK and marks another step in their strategy to develop its Industrial HVAC projects and solutions.
How Langtons Helped
Langtons acted as lead advisors to the shareholders, providing assistance with deal structuring and support throughout the negotiation, financial due diligence and legal process.
Results
The business was acquired by Daikin Applied (UK), part of a wider European group, with the management team remaining within the business following the sale, to continue to grow the business.
Jamie Keating, owner and director of Brooktherm Refrigeration, says: “The acquisition by Daikin Applied is an important step for Brooktherm Refrigeration and will provide the investment needed for significant expansion and growth across the UK. We are excited about this new chapter in our company and are eager to combine our skills and strengths for the benefit of our customers.”
Claudio Capozio, CEO of Daikin Applied Europe S.p.A, says: “We are pleased to welcome Brooktherm to the Daikin family. The Brooktherm acquisition is an important progression that complements and strengthens Daikin’s established applied sales and service organisation within the UK. Brooktherm has a wealth of knowledge in service, maintenance and turn-key installation projects, and brings a high level of technical expertise across all HVAC areas. We look forward to this acquisition enhancing our ability to support our customers with the premium service that both Daikin and Brooktherm are renowned for.”
