Apeldoorn The Netherlands / Ingelmunster Belgium, August 31st 2023 – Cold Care Group, a holding company backed by NewPort Capital, today announces the acquisition of 100% of the shares of Cegal Invest BV and its wholly owned subsidiaries IC-Construct BV, Isocab Construct BVBA and Hosa NV, all located in Belgium, as well as Isocab Construct SAS and Isocab Construct Cleanroom SAS (33%), both located in France (jointly hereafter called “Isocab-Construct”). With this acquisition the Cold Care Group combines two long established industry groups in the sandwich panel construction of climate controlled commercial and industrial buildings. The transaction creates the undisputed market leader in the specialised niche of insulated modular construction of cold storage and climate-controlled solutions in the Benelux with an increasing presence throughout Europe.
Pierre Castelein, former owner and Managing Director of Isocab-Construct said "we felt a very strong cultural match from the first moment we started the conversations with the Cold Care Group and NewPort Capital. Joining this group provides Isocab-Construct further growth possibilities and we look forward to drive new market opportunities and to develop identified synergies.” Pierre will continue to run the day-to-day operations and will enter, together with his brother Mathieu, as significant shareholders in the Cold Care Group.
Ben Claaszen, CEO of the Cold Care Group comments: “for me it is a historic moment to bring the existing Cold Care Group and Isocab-Construct together under one umbrella. As Cold Care Group we seek to accelerate the growth strategy of our group and I look forward to work together with Pierre and his team to leverage on the strong platforms build over almost 200 years of combined history. Jointly we will further expand the business across other verticals than food including pharma, healthcare and cleanrooms and aim to grow the activities internationally.”
The expansion of the Cold Care Group marks an important step in the industry consolidation efforts of NewPort and follows NewPort’s investment in the Cold Care Group which was completed in April 2021. “We see tremendous growth potential in the cold store industry and broader temperature-controlled supply chain and are very excited to be able to unite the capabilities of both groups which each are known as leaders in developing and constructing the industry’s most sophisticated fully automated facilities. We are also very pleased to announce that Jacques Castelein, founder and former owner of Isocab-Construct, will come on board as our new Supervisory Board Member. Jacques brings a wealth of experience to the board which will help and guideline our senior team in our further growth ambitions” said Melvin Sie, Chairman of the Supervisory Board and Partner at NewPort.
Han Reinders, Cold Care Group Supervisory Board Member and former Managing Director of K.I.M. comments: “the relationship with the family Castelein goes already back to the time that my father was in the business. Isocab-Construct has been a well-respected and highly regarded industry peer. Them now being part of our group makes it full circle for me.”
Jointly the existing Cold Care Group members and Isocab-Construct install over 1.1 million m2 insulated sandwich panels per year making it the single largest user of these materials in Western Europe. With a total workforce of some 300 own employees, the Cold Care Group is also one of the larger specialised construction companies in the Benelux executing some 1250 plus projects annually.
About Cold Care Group.
Cold Care Group, headquartered in Apeldoorn since 2021, is the holding company of the main Dutch players Koel Isolatie Maatschappij Nederland BV(“K.I.M.”), Roma Nederland BV (“ROMA”), De IJzeren Man BV (“DIJM”) and Stinstra (Projecten BV) (“STINSTRA), all specialized in modular insulated construction. The company builds refrigerated stores, cold stores and other climate-controlled storage options for the food, pharma, transport and logistics sectors. Also see www.coldcaregroup.nl
About Isocab Construct
Isocab-Construct, incepted in 1973 and headquartered in Ingelmunster, designs, customizes and installs premium quality sandwich insulation panels for climate controlled commercial and industrial buildings as well as cleanrooms for pharmaceutical and mega factories. Furthermore, it installs industrial insulated doors and has an inhouse service maintenance department. Also see www.isocabconstruct.be
For more information, please contact: Henk-Jan Pasman, Marketing Communications, Cold Care Group, Mobile: +31 (0)6 46064833, H.Pasman@coldcaregroup.nl
