Nordic Climate Group is establishing itself in the Netherlands by acquiring Compair Airconditioning B.V., Capelle aan den IJssel, and T&S Klimaattechniek B.V., Woerden. These acquisitions are the first in the fifth market where Nordic Climate Group operates. Since its start in 2021, the group has grown to become the leading player in refrigeration installations focusing on energy efficiency and sustainability in Sweden, Norway, Finland, and Denmark. With the Dutch acquisitions, Nordic Climate Group becomes a significant player in northern Europe and intends to further strengthen its position by incorporating more companies. Compair and T&S together contribute over 60 employees and approximately 23 million EUR in turnover. As a result, Nordic Climate Group has over 1,600 employees across approximately 80 local establishments and generates over EUR 400m in revenue.

"The entry into the Netherlands not only means a new country but also a significant first step onto the European continent. The acquisitions reflect our ambitions to build Nordic Climate Group together with local market leaders driven by entrepreneurial spirit and a focus on sustainability. Both Compair Airconditioning and T&S Klimaattechniek were companies we early on identified as key acquisitions for establishing in the Netherlands," says Fredrik Gren, CEO, Nordic Climate Group.

Joseph Kuling is the chairman of Nordic Climate Group Netherlands B.V. and has extensive experience in the Dutch market.

"When Nordic Climate Group presented their thoughts and strategy for expanding outside the Nordics, it was very interesting. The group's growth with establishments in the Nordic countries is impressive, and it is inspiring to participate in the development as the chairman of the group's Dutch operations. Compair and T&S are from the start an excellent platform to continue national growth. A sign of trust in the concept is that the entrepreneurs who created the companies continue in their existing roles, just as in other acquired companies in the group," says Joseph Kuling.

For 25 years, Compair Airconditioning has developed in climate control and heat pumps with a strong customer orientation.

"From the first conversation with Nordic Climate Group, there was a special connection. Their professionalism was immediately decisive for us. Being part of a professional organization provides both the company and our employees with entirely different future opportunities than what we had on our own," says John van Kralingen, CEO, Compair.

T&S Klimaattechniek was established in 1999 and has experienced stable growth with customers primarily in data centres.

"To continue our technical development, we needed to take a new step. By joining Nordic Climate Group, our capabilities are enhanced through knowledge transfer, professionalism, and innovative thinking. We have found the perfect partner," say Allard Prins and Henri van Steenbergen, both founders of the company.

Nordic Climate Group's focus is to help its customers minimize their climate footprint and maximize energy efficiency. The plan is to continue building a leading corporate group in northern Europe with strong growth both organically and through further acquisitions. The model is based on entrepreneurial strength, decentralized business units with collaborations in business, procurement, purchasing, personnel training, and sharing technical expertise.

For more information, please contact:

Fredrik Gren, CEO, Nordic Climate Group

fredrik.gren@nordicclimategroup.se

Tel: +46 705 11 64 99

Joseph Kuling, Chairman, Nordic Climate Group Netherlands B.V

joseph.kuling@nordicclimategroup.com

Tel: +31 6 52 02 67 16

About Nordic Climate Group

Nordic Climate Group is a leading player in cooling, heating, and energy-efficient installations with the goal of being a self-evident role model in sustainable climate solutions. We take full responsibility from idea, design, installation, and delivery to maintenance and service. The group was formed in 2021 and consists of over 80 local establishments and has over 1,600 employees. Nordic Climate Group is owned by a broad group of entrepreneurs and employees together with Altor Fund V.