Polaris has entered into a partnership with Denmark-based TEFCOLD, becoming the majority shareholder in the commercial plug-in refrigeration provider. Founder Torben Christensen and his family will retain a 40% stake, while TEFCOLD management will also co-invest.
Founded in Viborg, Denmark, in 1987, TEFCOLD supplies commercial plug-in refrigeration solutions to more than 8,000 customers in the foodservice, hospitality, retail and beverage sectors. The company operates in 11 countries and has annual revenues of approximately EUR 145 million (about USD 169 million) following its acquisition of Clima Hostelería in July 2026.
TEFCOLD has completed eight acquisitions since 2018. Under the partnership, TEFCOLD and Polaris plan to focus on commercial initiatives, investments in the operating platform and further acquisitions while maintaining the company’s existing customer focus, refrigeration expertise and entrepreneurial culture.
“We have successfully expanded our geographic footprint and strengthened our market positions organically and through acquisitions. There are significant opportunities ahead to continue growing our presence across Europe, deepen customer relationships and build on the platform we have created over many years,” said Jesper Kirkeby Hansen, CEO of TEFCOLD.
The transaction will not change TEFCOLD’s day-to-day operations or management team, which will continue to be led by Hansen. Christensen will remain involved in daily operations and on the board. Thomas Voss will join as chairman, while JYSK Logistics Executive Vice President Ole Thomsen and Polaris Partner Nicolai Vennekilde will become board members. The parties did not disclose additional transaction terms.
