CCC Holdings Europe SpA acquires Roen Est SpA

Milan, 31 January, 2020 — CCC Holdings Europe S.p.A. (“CCCHE”), a holding company based in Italy, focused on the Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) sector, today announced the acquisition of Roen Est S.p.A. (“Roen Est”), a leading Italian manufacturer of heat exchangers and ventilation units for the commercial and industrial segments of the HVACR industry in Europe. Roen Est had €35 million of revenues in 2019, with approximately 400 employees, operating two factories across Italy and Slovakia. Established in 1983, Roen Est is a leader in custom coils and ventilation units across Europe, with approximately .two-thirds of its sales occurring outside of Italy.

“The HVACR industry in Europe presents large opportunities for growth and consolidation,” said Greg Deldicque, Chairman and CEO of CCCHE. “We look forward to working with Roen Est’s strong team to develop the company, the first of two- to-four additional acquisitions we plan to make over the next 24 months on our way to creating a company with over €200M in revenues.”

CCCHE makes control investments in middle-market European HVACR companies with revenues between €10 million and €150 million. Investments span OEM/manufacturing, service/installation, and wholesale/distribution. It is led by entrepreneur Greg Deldicque, an HVACR industry veteran, and supported by long-time senior advisors Didier Da Costa, Eric Parrot, and Jean-Pierre Xiberras. Aside from Deldicque and his partners, Italmobiliare S.p.A. and Luca and Alberto Pretto are investors in CCCHE.

“CCCHE’s clear focus on HVACR middle-market companies and operational capabilities provide clear benefits to its companies, their management teams, and potential sellers,” Deldicque added.

It welcomes investments in companies at all stages of their business cycles, including business growth, transformations, turn-arounds (including negative EBITDA or free cash-flow), carve-outs and roll-ups. CCCHE has strong values and takes a collaborative and ethical approach to all its investments.

Giovanni Bordin, the CEO of Roen Est since 2012 said, “With CCCHE begins an exciting phase of evolution and growth. Together, we aspire to grow the company both organically and through acquisitions, leveraging Roen Est’s strong history and customer relationships dating back to its creation in 1983”.

Gattai Minoli Agostinelli & Partners acted as advisors to CCCHE. Alantra, and Orrick, Herrington & Sutcliffe, (Europe) LLP acted as advisors to the seller.

For more information: https://coldchaincapital.com.


Greg Deldicque

CCC Holdings Europe S.p.A.

+34 634 908 925



Vice Chairman Enex Industrial

  • Joined ENEX Technologies from EOS Refrigeration in 2023, where he was founder & CEO
  • More than 30 years’ experience in the Refrigeration sector as a managing director and then founder of a leading ammonia refrigeration OEM, generating more than 30% annual growth
  • Launched several innovative products focused on energy efficiency and environmental sustainability
  • Obtained an Engineering degree from UPC – Polytechnic University of Catalonia, Barcelona

CEO, Heat Exchangers, Enex Technologies

  • Based in Treviso, Italy
  • Joined Roen Est in 2020 as Chief Operating Officer
  • 20 years’ experience in operations, lean manufacturing, product commercialization and supply chain with Danfoss and Rivacold
  • Earned a degree in Engineering from the University of Saint Etienne in France

CEO, Commercial Refrigeration and Enex HVAC

  • Joined Enex Technologies from Carrier, where he was Managing Director, Commercial HVAC Europe
  • More than 20 years’ experience in the HVAC sector leading transformation, with a track record of significantly improving the financial performance of the businesses he leads
  • Earned a degree in Economics Business and Administration at Universidad Complutense
  • Completed programs at the University of Virginia’s Darden School of Business, and IESE Business School