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Gambit Advises Cool-Therm on Sale to The Carver Group

04 September 2018

Gambit Corporate Finance has acted as lead adviser to the shareholders of Cool-Therm on its sale to the Carver Group for an undisclosed sum.

Cool-Therm specialises in the design, supply, installation and servicing of air conditioning systems and chillers, operating across the UK and internationally. It has offices in Reading, Bristol and Cardiff and employs some 60 Staff. With revenues in excess of £12million and an EBITDA in excess of £2million, Cool-Therm specialises in data centres, industrial, commercial and public sector buildings.

The deal represents a further step in the Carver Group’s ambitious plans to continue to grow and invest in businesses in the HVAC sector in Europe and North America.

Aidan Killeen, Carver Group chief executive officer, said: “The acquisition of Cool-Therm clearly demonstrates our intention to create a group offering high quality bespoke products and services to all our customers. We see the business as remaining a separate organisation from our current manufacturing businesses but believe that, after five years of rapid growth for the group, it will offer us the opportunity to grow in other directions, both nationally and internationally, and will form a key part of our new five-year plan for expansion.”

The West Midlands-based Carver Group centrally manages competence centres for research and development, manufacturing and project management in order to create innovative heating, ventilation and air conditioning (HVAC) solutions for a wide range of market sectors including retail, industry and the public sector. As well as having its headquarters in Walsall in the UK, the group has representation in 50 countries and offices in Germany, France, the Netherlands, and Canada.

The Gambit team consisted of Partner, Geraint Rowe and Associate Director, Tim Brotherton.

Tim Brotherton commented “We are delighted to have advised the shareholders on the successful sale of Cool-Therm. Cool-Therm has achieved significant growth in recent years under their guidance and has built a reputation for high quality service to its customers. Carver Group is an excellent fit for Cool-Therm, and with the majority of the Cool-Therm directors continuing with the business the deal will provide Cool-Therm with the platform to continue its recent success.”

Greenaway Scott acted as legal advisers to the shareholders of Cool-Therm.