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Capital increase at ROEN EST: +16 million euro

The italian energy efficiency fund joins CCC Holdings Europe spa with an 18 million euro investment.

Roen Est SpA, a manufacturer of heat exchangers based in Ronchi dei Legionari (Gorizia), has announced a 16 million euro capital increase.

At the end of September, the Italian Energy Efficiency Fund (FIEE – Fondo Italiano per l’Efficienza Energetica), one of Europe’s largest funds specialising in energy efficiency, joined the parent company CCC Holdings Europe S.p.A. with an 18 million euro investment.

CCC Holdings Europe (CCCHE) is the Italian-based holding company specialising in the heating, ventilation, air conditioning and refrigeration sector. In January 2020, it acquired 100% of Roen Est through an ambitious plan of development and further acquisitions, with special emphasis on Enex Srl, a technology leader in natural refrigerant-based refrigeration acquired in February.

“Of the 18 million euro paid by the new shareholder FIEE, as much as 16 million will flow into Roen Est, increasing our share capital to 27 million euro” – explained the CEO – “This is a very important acknowledgement for Roen, bearing out its role as a key player in the development and investment process of the parent company CCC Holdings Europe SpA.

This capital injection means new investments in technology and human resources, it means outlining a business scenario with double-digit sales increases over the next few years as well as new future domestic acquisitions.

Over the last few months, Roen Est’s workforce has been enhanced with a number of specialised and internationally experienced profiles covering strategic roles, including sales and purchasing, human resources, IT and many other departments.

“We are honoured to welcome a prestigious institutional investor such as FIEE among our shareholders – said Greg Deldicque, Chairman and CEO of CCCHE – This capital increase adds further momentum to the growth path of the companies already acquired while enabling us to plan new acquisitions with the aim of creating a company with over 200 million euro in revenues.”

With a headcount of 400 employees and two headquarters in Italy and Slovakia, Roen Est posted a turnover of 35 million euro in 2019. Since its founding in 1983, the company has positioned itself in the market as Europe’s leading manufacturer of customised batteries and ventilation units, with around two thirds of its sales being export-related.