Gimv acquires stake in cooling and heating equipment rental company Coolworld Rentals
Antwerp — Gimv acquires a majority stake in Coolworld Rentals. The fast-growing company from the Netherlands is active in the field of full-service rental of cooling and heating equipment to B2B customers. The founding Buijzen family, founder Jack Buijnsters and the management remain involved. Upon completion of the transaction, Ruud van Mierlo, currently Director Sales and Marketing, will be appointed CEO. The current acting CEO Jack Buijnsters moves to the advisory board and will continue to play an active role in business development. The transaction is expected to enable Coolworld Rentals to execute its ambitious growth plans. Gimv is thus expanding its Sustainable Cities platform, which manages companies that benefit from the need for sustainable products.
Coolworld Rentals, based in Waalwijk, the Netherlands (www.coolworld-rentals.com), is an international specialist in full-service rental of cooling and heating equipment. Since its foundation in 1993, the company has developed into a specialized supplier that rents out cold storage and freezing cells as well as industrial solutions for process cooling, air conditioning and heating. With a wide range of products and services, Coolworld can respond flexibly to its customers’ ever-changing needs for cooling and heating solutions. Examples include capacity bottlenecks, rebuilds, test arrangements, seasonal peaks or operational disruptions. An international network of own branches, logistics depots and service points in the Netherlands, Belgium, Germany, France, Austria and Switzerland guarantees a year-round service around the clock.
Coolworld operates in many market segments and counts companies from the food, retail, pharmaceutical, chemical, logistics and data center sectors among its customers. In these customers’ processes, modern air conditioning technologies are playing an increasingly important role due to the need for fresher food, stricter requirements or environmental legislation. Also, peak times often have to be absorbed with temporary solutions. Coolworld can guarantee the necessary flexibility, quality and service for this. In addition, the company offers its customers appropriate services such as technical design, transport, maintenance and repair, and remote monitoring as part of an all-round support service, so that they can concentrate on their core business. The combination of technical expertise, full-service concept, a broad customer portfolio and high customer loyalty are the basis for Coolworld’s success.
With the investment from Gimv, Coolworld aims to achieve its growth targets. This includes expanding activities in the home markets, broadening the portfolio of energy-efficient and sustainable products, and increasing operating efficiency. A buy-and-build strategy is also planned for both existing and new markets.
Rombout Poos and Roland Veldhuijzen Van Zanten of the Gimv deal team: “Coolworld is a unique company in an attractive segment that benefits from important trends that are in line with the strategy of our Sustainable Cities investment platform. We look forward to working with Ruud van Mierlo and his team to help shape Coolworld’s continued expansion and significant growth. We share the view that sustainable leasing solutions are becoming increasingly important, have a similar geographic footprint and are looking to grow internationally. We will bring our expertise in air conditioning and leasing to support the group’s growth.”
The transaction is subject to customary conditions, including approval by the competition authorities. Further financial details will not be disclosed.
Gimv is a European investment company with almost 40 years of experience in private equity. The company is listed on Euronext Brussels and currently manages approximately €1.6 billion in around 50 portfolio companies, which together generate sales of €2.5 billion with over 14,000 employees.
As a recognized leader for selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Connected Consumer, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a competent and dedicated team in Gimv’s home markets (Benelux, France and Germany) and can count on an extended international network of experts.