We have advised MV-Jäähdytys and its owners on the sale of the company to Altor-backed Nordic Climate Group (NCG). Following the transaction NCG will be the largest specialised player for installations and maintenance works in the cooling and heating segments in the Nordics. The combined entity has operations in Sweden, Norway and Finland and it has an active expansion strategy also outside its current geographies.
Following the ownership change, MV-Jäähdytys plans to further accelerate its organic and non-organic growth in Finland. MV-Jäähdytys is a market leading specialized player in Finland for cooling and heating services. Some 80% of the company’s revenues are based on service with approximately 2,000 different clients covering over 45,000 devices across industries. One unique differentiating factor for MV-Jäähdytys is digitalisation: through its IT platform the company collects and utilizes different types of data in its operations and for better service of its entire customer base.
MV-Jäähdytys has been majority owned by Finnish private equity investor Korona Invest since 2018. During Korona Invest’s ownership period the company has become the leading pure play service company in Finland. Since 2018, MV-Jäähdytys has grown its sales from approximately €7m to close to €30m, multiplied its service base from less than 10,000 to over 45,000 devices and has hired close to 200 professionals.
