IK Partners has signed an agreement to invest in Francks Kylindustri Nordic provider of installation and maintenance of commercial and industrial refrigeration systems through its X Fund.
IK will succeed Segulah V, a fund advised by Amplio Private Equity as the majority shareholder. Financial terms of the transaction were not disclosed.
Founded in 1950 and headquartered in Sweden, Francks is a leading specialist provider of installation and aftermarket services within commercial and industrial refrigeration systems.
With more than 75 years of experience, Francks has a broad and diversified blue-chip customer base of over 1,000 customers, supported by over 650 employees who work across 50 sites in Sweden, Norway, Denmark, and Finland.
With the support of Amplio since 2019, Francks has developed from a regional business in Sweden to a group with comprehensive coverage of the Nordics following market entry into Norway, Denmark, and Finland.
Alongside this, the company has achieved strong profitable growth, both organically and through multiple strategic add-on acquisitions.
Supported by IK, Francks will continue to drive further consolidation in the Nordics and explore opportunities to expand internationally whilst benefitting from IKs strong in-house capabilities and track-record in building scalable resilient operations.
