Pinsent Masons advises Ardian on the integration of the Spanish Syclef portfolio
Pinsent Masons has advised Syclef Holding (Ardian Expansion’s portfolio company specialized in industrial refrigeration, commercial refrigeration and air conditioning) on making the leap to the Spanish industrial, commercial refrigeration and air conditioning markets through the acquisition, under its Spanish brand “Syclef Iberia”, of the Spanish Syclef portfolio.
The portfolio consisted of a majority stake in the Spanish group Enfrío (operating in Valencia, Andalusia and Murcia); the Spanish group Iparfrio (operating in Basque Country, La Rioja, Navarra and Madrid); the Spanish entity Gestécnica Integral 10 and its subsidiary Ecofacilities (operating in the Canary Islands); the Spanish entity Ingenieria Instalaciones Diseño y Desarrollo (operating in Galicia, Asturias, Cantabria and Castilla y León); and the Spanish group Decofrio (operating in Catalonia).
Syclef is a leading French player specialized in the installation and maintenance of refrigeration and HVAC (“Heat, Ventilation and Air conditioning”) systems. The group has progressively developed its footprint through organic growth and acquisitions. Since 2015, the group strongly accelerated its external growth strategy with the successive integration of 21 build-ups and currently employs circa 1300 employees in 36 independent entities in France. Ardian Expansion, among the top ten Private Equity firms in the world, closed the investment in Syclef in November 2020.
The Pinsent Masons team led by Francisco Aldavero Bernalte included Tatiana Fernández de Casadevante Aguirreche, Rocío García Nardiz and Alejandro Mas Deudero (all corporate Madrid), Samuel González, Beatriz Moriones and Alicia Piqueras (all employment Madrid) and Gonzalo Gil and Isabel Elena Wimmer (both tax Madrid).
