Italian firms combine to offer range of products from display cases to refrigeration packs to coldrooms, alongside contracting services
The Nocivelli family, owners of the Epta Group, and the Triglio family, owners of Iarp Group, have announced they are joining forces to create a single entity. The new joint group will have annual revenues of about £560 million and 4,000 employees with 12 factories in Europe, Asia and South America.
The firms say the combined entity will have a leading position in the refrigeration market, with the ability to offer a complete range of products from remote systems to plug-ins, from cold-rooms to packs, along with contracting, installation and maintenance of systems either directly, or via a network of distributors.
Sergio Chiostri, Chairman and CEO of Epta, will retain both roles in the ‘new’ Epta, while Marco Nocivelli will be Managing Director. Piero Triglio Godino, Chairman and CEO of IARP and Mr. Carlo Delrosso, Iarp’s Chief Financial Officer, will join Epta’s Board of Directors.
Mr. Triglio said: “I believe that, by getting together, Iarp and Epta can build on each other’s strengths and improve their skills”.
Subject to regulatory and shareowners’ approval, the transaction is expected to close in the first quarter of 2013.