Private investment house Ardian has closed its newly formed and inaugural continuation fund for Syclef, a European firm specialising in the installation and maintenance of refrigeration and air conditioning systems.
According to a recent release, the fund will be managed by Ardian and – following a competitive auction process – will be capitalised by Eurazeo as senior lead investor and Astorg as co-lead investor.
The fund includes commitments from existing investors of Ardian Expansion Fund V and new investors, alongside a significant equity contribution from both Syclef’s Management team, and the Expansion team.
Ardian first invested in Syclef in November 2020. The company, which is considered a key player in the energy transition, has since consolidated its market position in France while pursuing its international M&A strategy.
The capital will support the company’s next phase of growth, which includes further international expansion and supporting the refrigeration and air conditioning industries in transitioning to more efficient natural fluids.
