- Date:
July 2024 - Client:
KOMA Group - Sector:
Food, Conditioning Solutions - Service:
Sell-side advisory
OxGreenfield acquired KOMA Group
On July 23, 2024, the Dutch investor OxGreenfield acquired 100% of the shares in the KOMA Group, including KOMA Koeltechnische Industrie B.V., Poly Roermond B.V., and KOMA subsidiaries in Germany, Belgium, France, Italy, Spain, and Japan. KOMA provides cooling and freezing solutions for bakeries and patisseries, while Poly produces insulation panels for KOMA cells and also supplies them to a broad customer base outside KOMA. With a turnover of approximately 45 million euros and around 250 employees, KOMA is a leading international player in this market.
OxGreenfield decided to make this fifth investment from their second fund due to KOMA’s strong market position and the company’s leadership in the application of natural refrigerants.
Orange Corporate Finance acted as exclusive financial sell-side advisor on behalf of the shareholders in KOMA and assisted the sellers from preparation to the closing of the entire transaction process.
Acquisition by OxGreenfield
Founded in 1938 and based in Roermond, KOMA has grown to its current size under the wings of the Aarts family. Now that the family is no longer active within the company, it is time to transfer the business to OxGreenfield. Together with the management, OxGreenfield aims to shape the next phase of KOMA’s growth and development. The management team, consisting of Marc Vrolijks and Ferry Houbiers, looks forward to collaborating with OxGreenfield in this new setting.
In the dough-processing industry, scaling up has been taking place for some time, with cooling and freezing technology increasingly being used to optimize production planning and product quality. KOMA makes a significant contribution to this by not only delivering quality products but also through the continuous monitoring and proactive service of its products in the field.
OxGreenfield sees opportunities to further strengthen KOMA’s market position by focusing on the sustainability of its products with natural refrigerants and by relieving its customers of the burden of monitoring, maintaining, and keeping up-to-date the more than 25,000 KOMA cooling and freezing cells that are in use worldwide. Investments will be made in the IT environment, production facilities, and the organization to achieve this.
Market growth and development
The market for cooling and freezing technology is growing due to scaling up within the dough-processing industry. Moreover, developments in refrigeration technology are leading to innovations in new products and modifications to KOMA cells in the field. European regulations are gradually limiting the use of traditional refrigerants and increasingly banning refrigerants that release F-gases, which are harmful to the environment. Anticipating these regulations, KOMA is already working exclusively with natural refrigerants. In the coming years, not only will new machines/installations be equipped with these, but many existing cooling and freezing cells will also be converted.
About KOMA
KOMA has been based in Roermond since its founding in 1938 and has been focused on cooling and freezing technology for the dough-processing industry from the start. This has resulted in extensive knowledge and a strong reputation. With several own branches and distributors abroad, KOMA has established an international position. With the Poly business unit within the group, KOMA can develop and produce both the insulation panels and the refrigeration technology and all accessories in-house. Of the approximately 250 employees, a large part works from the headquarters and the two production locations in Roermond.
About OxGreenfield
OxGreenfield invests in experience, expertise, and dedication to create room for the growth ambitions of entrepreneurs. The investor focuses on industrial companies with a technically distinctive character, emphasizing management strengthening, succession of owner-directors, carve-outs, growth, scale-ups, and turnarounds. The partners of OxGreenfield have an impressive track record together. Each with their own expertise, they strive for connection, relationships, and results. With the participation in KOMA, the fifth investment in the new fund of the investment company is a fact.
