Italian takeover
Published: 18 December, 2007
Component manufacturers Specialist Heat Exchangers and Tube Fins, has
been acquired by an Italian sub assembly manufacturer as part of a £9m
takeover. Bank of Scotland Corporate has provided £5.1million of
funding, with a further £0.5 million provided by way of working capital
facility.
The Italy-based Raco Group acquired the Lincoln and
Tamworth based businesses, which are part of the holding company
Cooling Power Holdings. One of the Group's key aims is to use the
businesses' strong position in the US marketplace to build its own
portfolio of customers across North America. In return, Cooling Power
Holdings will be able to take advantage of Raco Group"s existing
customer network which is located throughout Europe.
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