Moore Blatch’s corporate and property teams have advised the shareholders of ICS Group Holdings Limited (ICS Cool Energy) on the successful sale of the group to Ingersoll-Rand plc, a world leader in creating comfortable, sustainable and efficient environments. ICS Cool Energy will be part of Ingersoll Rand’s Commercial Heating, Ventilation and Air Conditioning (HVAC) business.
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.
“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,” said Dave Regnery, executive vice president of Ingersoll-Rand. “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.”
“We are excited to be part of Ingersoll Rand because of its market leadership, strong values and commitment to customers,” said Simon West, Group CEO for ICS Cool Energy. “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.”
ICS Cool Energy is headquartered in Southampton, England and has an extensive footprint in the United Kingdom, France, Germany, the Netherlands and Switzerland.
Moore Blatch worked alongside Spectrum Corporate Finance and Osborne Clarke on the deal.
Commenting on the deal, Roger Bailey, Moore Blatch corporate partner, said: “We have worked with ICS Cool Energy for many years and this deal is the culmination of a huge amount of time and effort spent by the shareholder directors in developing the business to its current size and profile. Many congratulations to them.”
Simon West, CEO of ICS Cool Energy said: “We are indebted to Moore Blatch whose sound advice and energy contributed immensely to the success of the deal. The Moore Blatch team worked tirelessly within a tight timeframe and seamlessly alongside the ICS Cool Energy management team and our other advisers to help ensure an excellent result.”