October 5, 2023

Veld Koeltechniek and Retail Technics join forces

Veld Koeltechniek a specialist in refrigeration technology in various end markets and Retail Technics join forces from 3 October onwards. Thanks to this acquisition, the Veld Group will grow to 425 employees. Financial details of the transaction will not be disclosed. Retail Technics is a service-oriented full-service installer in refrigeration technology that focuses on supermarkets and wholesalers. The company's activities are in line with and strengthen the Retail and Service Business Units of Veld Koeltechniek. Retail Technics is headquartered in Nijkerk and employs over 90 employees.

Refrigeration technology for supermarkets and wholesalers
The acquisition of Retail Technics enables Veld Koeltechniek to grow further in the retail end market. “The ambition of Retail Technics fits seamlessly with our strategy to jointly achieve the best results through a sustainable partnership with the customer,” says Michel Berends, Managing Director at Veld Koeltechniek. “The focus lies on energy management, sustainability and total cost of ownership. Both companies believe it is essential to join forces. The tight labour market and rising energy and raw material prices require consolidation, which improves efficiency and safeguards customer performance. Ultimately, we believe this will allow us to offer our customers maximum business security”.

Focus on sustainability
The previous shareholders of Retail Technics viewed Veld Koeltechniek as the ideal partner for the future. “Together with Veld, Retail Technics can continue to innovate and serve customers with the best solutions for total climate control.” Little will change for the employees of Retail Technics, except that both companies will commit to strengthen each other and that there will be more career opportunities for the employees of both companies. Retail Technics will remain headquartered in Nijkerk.

Suitable acquisition candidates
Since November 2022, Veld Koeltechniek has been acquired by the management board and investor 365 Capital. Since then, a strategy has been developed aimed at building a leading installation and service specialist in refrigeration technology. In the next few years, the focus will lie on sustainability, innovation and preventive and corrective maintenance through remote monitoring of installations. Data management is also playing an increasingly important role. In this way, Veld aims to become a full-service provider in the fields of refrigeration technology and energy management.

In addition to organic growth, Veld is looking for suitable acquisition candidates in refrigeration technology in the Netherlands and Germany to further accelerate growth. In June, Veld Koeltechniek announced the acquisition of industrial refrigeration specialist LTI. In addition to LTI, the previously acquired companies Uyterlinde and Jannink Grootkeuken- en Klimaattechniek are also part of the Veld Group.

CROP Accountants & Adviseurs assisted the shareholders of Retail Technics with the transaction. Veld Koeltechniek was advised by Vriman M&A Lawyers and KPMG.