French group Syclef takes over Romanian industrial refrigeration player Horeco

Syclef, which specializes in commercial refrigeration, industrial refrigeration, and HVAC (heating, ventilation, air conditioning), has taken over Horeco Holding, a Romanian group specializing in industrial refrigeration.

The transaction remains subject to obtaining the necessary regulatory approvals from the Romanian Competition Council and the Commission for the Examination of Foreign Direct Investments (CEISD).

Founded in 1995 and based in Buzău, in eastern Romania, Horeco Holding brings together two companies: Horeco Impex and Frigoclima. The group employs more than 90 people and reported revenue of over EUR 20 million.

Florin Niculescu, the current CEO, remains a shareholder and will continue to lead the company's management and strategic development.

The partnership with Horeco is the second transaction in Romania announced by Syclef this month. In early July, the group announced that Unicool, a Romanian group specializing in commercial refrigeration, was joining it.

Headquartered in Cluj county, Unicool was founded in 2011. The group gathers two companies: Unicool Instalatii Frig and Acsa Coolteam. The founders will remain shareholders in both companies and will continue to manage operations.

Syclef is present in France, Italy, Spain, Portugal, Belgium, the Netherlands, Ireland, Poland, Africa, the Indian Ocean region, and Romania. It designs, installs, and maintains custom technical solutions for a wide range of sectors.

(Photo: Roman Zaiets | Dreamstime.com)