Nordic Climate Group strengthens its position in Greater Stockholm through the acquisition of Frigotech. Frigotech specializes in commercial refrigeration, offering services such as installation, maintenance, emergency response, and monitoring to sectors including food stores, pharmaceutical industries, and warehouses. The company has extensive experience in CO2-based refrigeration solutions and has historically exported components and refrigeration specialists worldwide. Frigotech is a valuable addition to Nordic Climate Group, consolidating its position as the leading provider of energy-efficient and sustainable climate solutions in the Nordic region. Founded in 1986, Frigotech is well-established in the Stockholm region, with an annual turnover of 29 million SEK and currently employing 14 people.

- Joining Nordic Climate Group is a significant and important step for Frigotech. By becoming part of the group's extensive network of specialists and experts in refrigeration, we gain access to invaluable knowledge and exchange of experiences. This is particularly crucial at a time when the industry is transitioning to natural refrigerants. This allows us to grow and enhance our offerings of delivering sustainable, high-quality solutions and services to our customers, says Thomas Nyström, CEO of Frigotech.

At the core of Nordic Climate Group's operations is a strong local market position. This means that Frigotech, like the other companies within the group, will continue to operate under its local brand, with its previous management remaining in their roles and current operations, including customer commitments, being prioritized. Nordic Climate Group already includes Stockholm-based companies El- och kylservice, Kylgruppen, Kylmästarna, Labkyl, and TIMAB.

- This acquisition marks a significant step for Nordic Climate Group, strengthening our presence in Stockholm while expanding our service offerings. Frigotech has an impressive track record, particularly in CO2 technologies, and a strong reputation in commercial refrigeration. We look forward to integrating their expertise and resources into our operations, says Mikael Anjou, Sweden Manager of Nordic Climate Group.

Nordic Climate Group focuses on helping its clients minimize their environmental footprint and maximize energy efficiency. The plan is to continue building a leading company in Northern Europe with strong organic growth and further acquisitions.

For more information, please contact:

Fredrik Gren, CEO, Nordic Climate Group

Phone: +46 705 11 64 99

Email: fredrik.gren@nordicclimategroup.se

Thomas Nyström, CEO, Frigotech

Phone: 073-803 50 34

Email: thomas.nystrom@frigotech.se

About Nordic Climate Group:

Nordic Climate Group is a leading player in refrigeration, heating, and energy-efficient installations, aiming to be a prominent example of sustainable climate solutions. We take full responsibility from concept, planning, installation, and delivery to maintenance and service.

Formed in 2021, the group now consists of 80 local establishments and employs over 1550 people. Nordic Climate Group is owned by a diverse group of entrepreneurs and employees together with Altor Fund V.