Active Refrigeration Expands with Direct Capital Investment
Deal News | Nov 19, 2024 | Direct Capital Ltd
Direct Capital has completed an investment in Active Refrigeration Group, a leading New Zealand company in refrigeration and HVAC services. The Group, celebrated for its innovation, delivers high-quality solutions across various industries including food and beverage and cold storage. Co-founders Craig Duff and Graeme Green have developed Active Refrigeration into a premier market player over the past 25 years. The investment underscores the Group’s sector leadership and innovation credentials. With Direct Capital’s involvement, Active Refrigeration aims to expand its services and customer base. Direct Capital, New Zealand's largest private equity firm, will use its expertise to support this objective. The investment aligns with Direct Capital's strategy of investing in top New Zealand companies and represents its sixth investment from its $425 million fund, Direct Capital VI, established in 2020.
Sectors
- Refrigeration and HVAC
- Private Equity
Geography
- New Zealand – Both Active Refrigeration Group and Direct Capital are based in New Zealand, with the investment reflecting Direct Capital's focus on the New Zealand market.
Industry
- Refrigeration and HVAC – The industry focuses on heating, ventilation, and air conditioning services, including refrigeration solutions, which is the core service area for Active Refrigeration Group.
- Private Equity – This sector involves investment firms like Direct Capital providing funding and expertise to private companies such as Active Refrigeration Group for growth and development.
Financials
- $425 million – Capital raised by Direct Capital for its fund, Direct Capital VI, from which the investment in Active Refrigeration Group was made.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Active Refrigeration Group | Target Company | Company | A leading provider of refrigeration and HVAC services in New Zealand, serving key sectors such as food and beverage, cold storage, and aged care. |
| Direct Capital Ltd. | Investor | Company | New Zealand’s largest private equity firm, investing in private companies with a focus on growth and sustainability. |
| Craig Duff | Co-Founder | Person | Founding Director of Active Refrigeration Group, contributing to its leadership and strategic direction. |
| Graeme Green | Co-Founder | Person | Co-founder of Active Refrigeration Group and integral to its establishment as an industry leader. |