28/02/22

LU-VE GROUP ACQUIRES 75% OF REFRION GROUP

Through this strategic operation, the Group consolidates its presence in the most qualified and advanced sector of large-scale heat exchange.

The agreement provides for the acquisition of 75% of @Refrion’s (Flumignano, Udine, Italy) share capital, as well as an option, exercisable within the next five years, to purchase the remaining 25%.

Refrion is an Italian company specialized in the production and marketing of air heat exchangers with adiabatic technology, which enables reductions to be made in energy consumption, water consumption, and noise emissions. Founded in 2002 by @Daniele Stolfo, Refrion has always been distinguished by the innovation of its products, the key to its success in the civil and data center air conditioning and in process cooling and industrial refrigeration sectors, thanks also to the technology of heat exchangers with oval tubes, of which Refrion was a historic forerunner. In addition, Refrion is also active in the field of heat exchangers for nuclear plants and has one of the largest climatic test chambers in Europe.

In the financial year 2021, Refrion Group achieved a consolidated turnover of €26 million. The company exports around 90% of its production mainly to European markets.

The President of LU-VE Group Iginio Liberali stated:

" We are very pleased with the agreement signed today. Refrion's particular attention to reducing environmental impact is in line with the sustainability strategy of LU-VE Group, which since its foundation has adopted technological solutions and manufactured products for 'green cooling'. We are confident that thanks to the synergies that Refrion will develop with the entry into the LU-VE Group, the Company will enjoy new opportunities for further growth. This operation is part of the Group's strategy of strengthening its presence in the most qualified and advanced sector of large-scale heat exchange ."