Kuldeteknisk announces acquisition of FrioNordica for NOK 72M.
Kuldeteknisk, a Tromsø, Norway-based company providing cooling technology solutions announced entering into an agreement to acquire FrioNordica.
The deal is estimated to be made at around for NOk 72M ($8.7M) and involves bringing the ownership of FrioNordica and Kuldeteknisk together in a new-established group, which will have a competitive product portfolio for international growth.
FrioNordica, led by CEO Ketil Røberg, is a leading manufacturer of refrigeration systems, with its head office and production facilities at Malmefjorden north of Molde, with a branch in Grimstad and a subsidiary in Chile.
Kuldeteknisk, led by CEO Anders Høifødt, is the leading service company for refrigeration installations in northern Norway, and ranks as a substantial provider of refrigeration and freezing solutions for land-based industry and the maritime sector.