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Key Capital is delighted to announce that it has advised Tech Refrigeration and Air Conditioning, one of Ireland’s leading specialists in refrigeration and air conditioning, on its sale to bluu unit GmbH, a Triton Partners backed platform with operations across Germany and Switzerland.
The transaction represents a significant milestone for Tech Refrigeration and Air Conditioning and marks bluu unit’s entry into the Irish market, which has been identified as a key growth hub for the rapidly expanding European alliance. Ireland will become bluu unit’s next centre of expertise for natural refrigerants, reinforcing the group’s ambition to advance sustainable, future-proof refrigeration and air conditioning solutions across Europe, while also expanding its capabilities in data centre solutions.
As part of the acquisition, Tech Refrigeration and Air Conditioning joins bluu unit’s decentralised, partnership-driven alliance of regionally strong, independent experts. This model enables the business to retain its independence and strong local identity, while gaining access to greater investment, global expertise, shared standards, and enhanced technical capabilities. The partnership will also support Tech Refrigeration and Air Conditioning’s long-term strategy, including the potential for further strategic acquisitions in the HVACR sector in Ireland.
There will be no immediate changes to the company’s operations or day-to-day activities. Tech Refrigeration and Air Conditioning will continue to operate as usual, with a structured integration taking place over time.
Based in Dublin, Tech Refrigeration and Air Conditioning employs approximately 70 people and is widely recognised for its high service quality and expertise in the design, installation, and maintenance of complex systems. The company serves a broad range of sectors including food, retail, hospitality, pharmaceuticals, education, and data centres, with a strong focus on natural refrigerants, highly skilled professionals, and excellence in project delivery and customer support.
Reflecting on the partnership with bluu unit, Vincent Weldon commented: “This partnership positions us strongly for the future and reflects confidence in our people and our business. The alliance’s decentralised, partnership-driven approach allows us to remain independent while continuing to grow and becoming even stronger together.”
“When considering selling our business, we spoke with several potential advisors. Key Capital really stood out above the rest as they fully understood and recognised what we wanted to achieve, particularly in relation to continuity for staff and clients. From the outset, they provided us with constant support and guidance, always keeping us well-informed. They managed the process very efficiently and strategically from start to finish.”Vincent Weldon - Managing Director, Tech Refrigeration and Air Conditioning.
Key Capital wishes Vincent Weldon, Jim Weldon, Paul Byrne, Hugh Weldon, and the entire Tech Refrigeration and Air Conditioning team, together with bluu unit, every success as they embark on the next stage of their growth journey.
The Key Capital transaction team included Katie O'Connell, Colin Morgan, Alex Reid, and Hannah Joy.