Frigel Firenze S.p.A. has completed takeover of Green Box S.r.l.

Frigel Firenze S.p.A. based in Scandicci, leader in industrial cooling systems, has reached an important goal by taking over the company Green Box S.r.l. from Padua, with the aim of creating an increasingly important reference point in the market of industrial refrigeration worldwide.

This operation concerned 100% of Green Box shares, and confirms Franco Spiandorello and Caterina Spiandorello, formerly chief executive officer and managing director of the company, as key figures in the Frigel management team.

The takeover of Green Box will allow Frigel to further strengthen its presence on the international market by creating a group with a turnover of over 70 million euro with significant margins and interesting growth prospects, ready to accept the challenges of the competitive global market.

Founded in 1991 in Piove di Sacco (Padua), Green Box is an important company in the world of industrial refrigeration and temperature control, specialized in the production of machines and systems for industrial processes using water and other fluids for temperature control.

Green Box solutions may be custom-built and are applicable in a wide range of industrial applications such as plastic processing, biogas and energy production, metal die casting and the food industry.

Frigel Firenze S.p.A., operating since the sixties, is a well known enterprise, with a turnover of approx. 60 million euro, a steady growth rate for more than twenty years (approx. 20% of CAGR over the last three years) and an EBITDA exceeding 10% of earnings.

Frigel produces cooling systems, chillers and temperature controllers for industrial applications, using advanced technologies for process cooling and temperature control, thanks to the development of efficient and reliable cooling solutions and a manufacturing and sales structure deployed in Italy, USA, Germany, Brazil, India and Thailand.

For almost sixty years Frigel has been offering advanced technological solutions for the leading players in fields such as rubber and plastic processing, production and bottling of drinks, metal processing, oil&gas and naval industries, guaranteeing high efficiency performance in terms of energy and water consumption, as well as a significant reduction in maintenance work and scraps production.

"We are happy that Green Box is now part of our group. There is great technical and innovative potential in Green Box that can now find its natural outlet thanks to the Frigel Group's stronghold on international markets" declared Duccio Dorin, Frigel's Chief Executive Officer.