Gimv invests in cooling and heating equipment rental company Coolworld Rentals

18/03/2019 - 07:30 | Portfolio

Gimv acquires a shareholding in fast-growing Coolworld Rentals, a full-service renter of cooling and heating equipment. Gimv becomes the majority shareholder alongside the founders, the Buijzen family and Jack Buijnsters, and management. Once the transaction is completed, Director Sales and Marketing Ruud van Mierlo will become CEO. Current CEO Jack Buijnsters remains involved in the Supervisory Board and will play an active role in business development. This transaction opens the way for the company to implement its ambitious growth plans.

Coolworld Rentals (Waalwijk - NL, www.coolworld-rentals.com) is an international full-service rental specialist in cooling and heating equipment. Founded in 1993, it has grown into a niche player that rents out cold storage and freezer cells, along with industrial solutions for process cooling, climate control and heating. This wide range of solutions, products and services permits Coolworld to respond adequately and flexibly to the increasingly variable demand for cooling and heating solutions to cover, for example, capacity problems, the renovation or overhaul of permanent equipment, test setups, seasonal peaks or calamities. 24/7/365 service is guaranteed by Coolworld's network of own branches, logistics depots and service points in the Netherlands, Belgium, Germany, France, Austria and Switzerland.

Coolworld operates in diverse market segments, including food, retail, pharma, chemicals, logistics, and data centres, where advanced climate technologies are becoming increasingly important (fresher food, stricter requirements, environmental legislation, ...). In addition, peak moments must often be cushioned with temporary solutions. Coolworld offers its customers the flexibility, quality and service they need, along with related engineering, transport, maintenance & repair and remote monitoring, enabling them to focus on their core businesses. In-depth technical know-how, a full-service concept, a broad customer portfolio and strong customer loyalty are the key to Coolworld's success.

Gimv is investing to enable Coolworld to realize its growth ambitions: expanding its activities in its current home markets, broadening its portfolio of energy-efficient, sustainable solutions, and further increasing its operating efficiency. This process can include buy-and-build in existing and new markets.

Ruud van Mierlo, current Director Sales and Marketing and CEO after the transaction: "With the arrival of Gimv and its expertise, we hope to be an even better partner for our customers. Gimv operates in many of the same countries and segments as Coolworld. With an experienced partner on board and with Jack staying on as a shareholder, we are ready for the next phase of growth. Gimv and Coolworld share a business creed which places both employees and customers centre-stage." 

Rombout Poos and Roland Veldhuijzen Van Zanten (Gimv) from the deal team add in their words: "Coolworld is a unique organization in an attractive segment that responds to important trends that our Sustainable Cities platform's strategy addresses. We look forward to working with Ruud van Mierlo and his team in shaping Coolworld’s further expansion and significant growth. From a shared recognition of the need for more sustainable rental solutions, and from a geographically parallel footprint and international growth ambitions, we will be applying our HVAC and rental expertise to help further expand the group."

The transaction is subject to the customary closing conditions, including approval by the competition authorities. No further financial details of the transaction have been announced.

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