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CCC Holdings Europe SpA receives euro 18 million investment from the Italian Fund for Energy Efficiency

MILAN, 28 September, 2020 — CCC Holdings Europe S.p.A. (“CCCHE”), a holding company based in Italy, focused on the Heating, Ventilation, Air Conditioning and Refrigeration (HVACR) industry, announced today that Italian Energy Efficiency Fund II (“IEEF II”) has become a shareholder and invested an initial 18 million euros in CCCHE.

IEEF II and Fondo Italiano per l’Efficienza Energetica, both managed by Fondo Italiano per l’Efficienza Energetica SGR S.p.A. (“FIEE SGR”), are the leading Italian funds and among the largest European funds specialising in energy efficiency for energy transition. FIEE SGR, created in 2014, is Chaired by Fulvio Conti, former CEO at Enel and former Chairman of Telecom Italia, and led by Co-CEOs Andrea Marano and Raffaele Mellone. After successfully investing its first fund, FIEE SGR has launched its second fund in August 2020 – IEEF II – with a first close of €127.5 million, above the initial minimum of €100 million, and the objective of reaching the target of €175 million by the end of the year. IEEF II counts as investors the European Investment Bank (EIB) and Aviva (one of the largest insurance companies in the world). Lamse S.p.A. (holding company of Andrea Agnelli and his sister Anna) and Maurizio Cereda (former deputy general manager and director of Mediobanca) are among the sponsors of the funds.

“We are honored to welcome such a prestigious institutional investor as one of our shareholders, alongside our original investors Italmobiliare S.p.A., and Luca and Alberto Pretto. We are well positioned to finalize our equity commitment target of 75-100 million euros by early 2021” said Greg Deldicque, Chairman and CEO of CCCHE. “This capital increase allows us to execute actions planned to significantly grow the two companies we have already acquired, as well as execute our next acquisition, on our way to creating a company with over €200M in revenues”

Raffaele Mellone, founder and Co-CEO of FIEE SGR, stated “CCCHE offers IEEF II a unique opportunity to invest in leading energy efficiency and natural refrigerant technologies in the space of heating, air conditioning and refrigeration, which is by far the largest consumer of energy for buildings”. Andrea Marano, also founder and Co-CEO of FIEE SGR, adds “CCCHE first two companies, Enex S.r.L and Roen Est S.p.A., have energy-efficiency leading technologies in key products such as refrigeration racks, air conditioning chillers, heat pumps and heat exchangers. Helping them grow will have significant impact on Europe’s CO₂ footprint.”

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 companies. 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.

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

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

CCCHE is already in advanced conversations with several other potential acquisitions and welcomes new opportunities.

Orrick Herrington & Sutcliffe LLP acted as advisors to CCCHE. Gianni Origoni Grippo Cappelli & Partners acted as advisors to FIEE SGR.

For more information: https://coldchaincapital.com, http://www.fieesgr.com/

###MEDIA ONLY CONTACT

Greg Deldicque

CCC Holdings Europe S.p.A.

+34 634 908 925

gdeldicque@coldchaincapital.com

FRANCISCO VALLINA

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
FABRICE SEGURA

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
LUIS CRESPO BARBER

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
SERGIO GIROTTO

Founder, COO and Honorary President, Enex Srl

  • Earned a Mechanical Engineering degree from Padova University
  • Based in Padernello (TV), Italy
  • Founded Enex Srl in 2004 to design and develop high efficiency refrigeration systems using natural refrigerants with low global warming potential, revolutionizing the industry
  • Authored 16 industry papers including two international peer-reviewed journals
  • Awarded 17 patents for technological innovations that continue to advance the efficient application of CO₂ refrigeration systems in all climates