IK Partners has agreed to invest in Francks Kylindustri, a leading Nordic company specializing in the installation and maintenance of commercial and industrial refrigeration systems. IK will become the principal owner, following Segulah V (advised by Amplio Private Equity AB). The price of the deal was not shared.
Francks was founded in 1950 and is based in Sweden. The company has over 75 years of experience and serves more than 1,000 customers with a range of essential and complex cooling systems. Francks has around 650 employees working across 50 locations in Sweden, Norway, Denmark, and Finland.
Since 2019, Amplio has helped Francks grow from a regional Swedish business into a group with operations throughout the Nordics. The company has expanded into Norway, Denmark, and Finland, growing both by adding new customers and acquiring other businesses. With IK’s support, Francks plans to continue growing in the Nordics and seek new opportunities internationally, leveraging IK’s experience to strengthen its operations further.
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“We are excited to embark on this next phase of growth as we look to further strengthen our position as a leading Nordic industrial and commercial cooling specialist. We are incredibly proud of all that we have achieved so far, having successfully completed 31 acquisitions and established eight greenfield sites, with the support of the team at Amplio. With IK’s expertise and strong track record of investment in the Nordics and beyond, we are confident in our ability to achieve further growth and continue to provide high-quality services and solutions to our loyal customers. We’d like to take this opportunity to thank Marcus and his team at Amplio for their support over the past six years and look forward to welcoming Maria and her team at IK.”
Sören Jensen, Group CEO of Francks
“We have been very impressed with Francks’ journey so far and the strong position it occupies in the Nordic technical installation market. With the support of the wider IK Platform, we look forward to accelerating growth through commercial and operational excellence, while delivering further M&A across the Nordics, Benelux and DACH. Francks’ strong track record and active pipeline of future opportunities provide a solid foundation for continued expansion. We’re delighted to be partnering with Sören and his team for the next chapter in the company’s journey.”
Maria Brunow, Partner at IK Partners and Advisor to the IK X Fund
“It has been our privilege to support Francks over the past six years, which has seen the business go from strength to strength. During our partnership, the company significantly expanded its footprint, strengthened its service offering and executed a very successful buy-and-build strategy. We look forward to following Francks’ continued success in the years to come and wish Sören, his team and IK all the very best for their future partnership.”
Marcus Planting-Bergloo, Managing Partner at Amplio Private Equity AB
