OVERVIEW
Freor supplies refrigeration solutions to food retailers across Europe and beyond, which help to reduce environmental impact and energy usage. The company is a technology leader in an industry which is growing due to global trends towards more chilled and frozen food. Livonia acquired a 33% stake in Freor in 2018, with the company’s founder and CEO retaining a majority stake.
Sustainability & WHY WE INVESTED
Refrigeration industry is undergoing a transformation to greener refrigerants and more energy-efficient products, which is why retailers favor companies like Freor which are able to develop environmentally friendly and energy efficient commercial refrigeration solutions. Continuous innovations, for example the Hydroloop system, is one of the many reasons why Freor has been able to grow its market share in Europe in recent years.
KEY FACTS
- Sales: €65.3 million
- Investment date: 2018
TEAM
- Mindaugas Utkevičius
- Mindaugas Rapolas
- Adolis Tarasevičius
Livonia Partners to buy stake in refrigeration innovator Freor
Livonia Partners has agreed to invest in FREOR LT to support the producer of sustainable commercial refrigeration equipment scale and meet growing international demand. Lithuania-based FREOR supplies energy-efficient and environmentally friendly commercial refrigeration solutions to top retailers and supermarket chains across Europe and beyond.