Nordic Climate Group enters Irish market with major acquisition of Anglo Irish Refrigeration
In a significant development for the Irish cooling and heating sector, Ashbourne-based Anglo Irish Refrigeration has been acquired by the Swedish industry heavyweight, The Nordic Climate Group.
This deal marks a major strategic entry into the Irish market for the Swedish group. It is part of a broader expansion that includes the simultaneous acquisition of two UK firms – MC Refrigeration and CSD Air Conditioning – representing a combined investment totalling over €56.7m (£50m).
Anglo Irish Refrigeration
A major player in Ireland founded in 1976, Anglo Irish Refrigeration is a cornerstone of the sector on this island, employing over 220 staff with four regional depots. The acquisition includes the company’s extensive portfolio of subsidiaries, cementing the Nordic Climate Group’s immediate footprint across both the Republic of Ireland and Northern Ireland.
The Anglo Irish Refrigeration group comprises Anglo Irish Refrigeration, Portglenone Refrigeration, Cater 2, Hoctor Refrigeration and Kavanagh Refrigeration. This network serves a diverse customer base, spanning food retail and logistics to the industrial, public, and commercial sectors.
Management continuity
Crucially for staff and customers, local leadership will remain in place. CEO Trevor Wright and CFO Niall Jones have confirmed they will continue in their operational roles, steering the company under the Nordic Climate Group banner.
Nordic Climate Group
The Nordic Climate Group, backed by Altor Fund V, was formed in 2021 and has positioned itself as a leader in energy-efficient installations. Its business model emphasises retaining the local identity of acquired firms.
Fredrik Gren, President and Group CEO of Nordic Climate Group, highlighted this decentralised approach: “What makes Nordic Climate Group unique is that every company continues to be what made them successful – locally anchored, customer-focused and entrepreneur-driven – while we become stronger together.
“With our entry into the United Kingdom and Ireland, we are reinforcing this model further and gaining greater momentum in our shared ambition to drive the transition to energy-efficient cooling and heating solutions.”
Financial and technical leverage
The move allows Anglo Irish Refrigeration to leverage the financial strength and technical expertise of a major European player while maintaining its Ashbourne roots and established regional relationships.