Ufenau invests in the refrigeration specialist R&M in Spain

Ufenau has performed its first investment in Spain, by acquiring a majority stake in "Diseño y Mantenimiento de Plantas Frigoríficas, S.L." ("R&M"), a leading provider of integral industrial refrigeration solutions based in Valencia, previously known as APR.

With more than 70 employees and approximately EUR 30 million of revenues between its facilities in Valencia and Madrid, R&M is active in the field of design, installation, and maintenance of mid- larger industrial refrigeration projects in Spain, mainly for leading companies in the growing food and logistics sectors.

The company has built a strong reputation in both pandemic resilient sectors thanks to its unrivalled quality standards and its solid business culture, focused on providing an unrivalled customer service.

The founders and former owners of R&M will reinvest significantly in the company and will keep managing the business. The entry of Ufenau will ensure the continuity of R&M´s current operations and will boost the growth of the new group within its sector due to a combination of new organic and inorganic growth initiatives.

Ricardo Mayor, Founder and Managing Director of R&M, considers that “Ufenau is the right partner for the development of R&M as it will allow us not only to expand our presence in Spain but also to incorporate new business areas within the company. Two teams with great technical-financial capabilities come together with a clear purpose: provide quality and added value services to our clients. Together we start the path to consolidate a leading group that will undoubtedly benefit our entire national industry."

Ralf Flore, Managing Partner of Ufenau, said "R&M has grown rapidly in the past years, being able to work successfully, and on a recurring basis, with blue-chip clients in a tremendously demanding technical sector. Its founders have been capable to build a great team of highly qualified and highly motivated professionals. Ufenau and especially our Spanish team, Joaquín Alcalde and Ignacio Goded, are delighted to support the entire R&M team in this new phase of growth and to contribute with our extensive experience in value creation strategies that have allowed us to successfully carry out more than 180 growth investments in the DACH region". He also assured that "this acquisition, our first in Spain, reflects our strong commitment to expand our scope and activity in the country, which began already in 2019."