Process cooling and heating specialist is seen as a complement for I-R’sTrane chiller brand
Ingersoll-Rand has continued to expand its HVAC business with the purchase of process cooling and heating specialist ICS Cool Energy.
I-R’s purchase of ICS Group Holdings will see ICS Cool Energy become part of the company’s Commercial Heating, Ventilation and Air Conditioning business, alongside chiller brand Trane.
ICS has its headquarters in Southampton and, with 250 staff, claims a presence in 21 locations across nine countries, including France, Germany, the Netherlands and Switzerland. In its last accounts to Dec 31 2016, ICS reported turnover of £52.4 million.
In an announcement to shareholders, I-R said: “ICS Cool Energy is a privately owned temperature control and HVAC solutions and services company that specialises in temporary rental of energy efficient chillers for commercial and industrial buildings across Europe. It also sells, permanently installs and services high performance temperature control systems for all types of industrial processes.”
Dave Regnery executive vice president of Ingersoll Rand said: “ICS Cool Energy is a leader in the high margin rental services business with a reputation for strong customer service, helping building owners enhance productivity and reduce environmental impact. This acquisition is a strong fit with our Trane business, and strengthens our growth plans and ability to serve a broader range of customers in the important European market.”
Simon West, Group CEO for ICS Cool Energy said: “We are excited to be part of Ingersoll Rand because of its market leadership, strong values and commitment to customers. Our track record of customer service, our footprint and our capabilities in temporary rental services are complementary to the Trane business. Together, we will create even greater value for European customers.”