Ambienta has strengthened its industrial refrigeration platform with the acquisition of Freddo & Co., a Vicenza-based specialist in sustainable refrigeration systems for the food sector.

Freddo designs, installs, and maintains centralised refrigeration systems for refrigerated warehouses and process-cooling applications, serving a broad customer base across dairy, bakery, and cured meats. Founded in 1998, the company is led by Michele Piovesan, Roberto Canova, and Enrico Signorini, who will remain in management and reinvest in the business alongside Ambienta.

The deal marks the third add-on for Frigoveneta this year, following the acquisitions of Mercuri in February and Bonera in July 2025. The integration of Freddo enhances Frigoveneta’s technical capabilities and expands its presence in the food industry, while also advancing Ambienta’s goal of developing a market leader in sustainable refrigeration.

“With the integration of Freddo, Frigoveneta gains a deep bench of experienced technicians who will strengthen our service capabilities and expand our coverage of attractive segments within the food industry,” said Marco Rampichini, CEO of Frigoveneta.

Massimiliano Lecchi, Private Equity Principal at Ambienta, added: “The acquisition of Freddo is another important step in Frigoveneta’s growth journey, adding depth in the food sector and strengthening the platform’s service capabilities with a highly skilled technician base.”

Ambienta noted that the €12bn European commercial and industrial refrigeration market is undergoing structural change driven by stricter efficiency standards and the transition to low-GWP refrigerants. Refrigeration systems account for roughly 500 million tons of CO₂ emissions annually, around 1% of global emissions, highlighting the need for sustainable innovation in the sector.

Most of Freddo’s systems already use very low GWP refrigerants such as CO₂, positioning the company as a leader in environmentally responsible cooling solutions.

Ambienta’s advisors included Ethica Group for M&A, Gatti Pavesi Bianchi Ludovici for legal and tax matters, and EY Parthenon for commercial, financial, and HR advisory. Freddo & Co. was advised by Perpethua on M&A, Grimaldi Alliance on legal matters, and Studio Fanciullo on tax.

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