HVAC&R Limited (HVAC&R), a leading provider of business critical heating, ventilation and air conditioning solutions to the oil and gas sector, has been acquired for £10.25million with capital from Lonsdale Capital Partners to integrate into existing investment, Oteac. Royal Bank of Scotland are the senior debt providers on the deal.
Oteac provides fire and safety services to the oil and gas, drilling, marine, public service and industrial / commercial sectors. The company’s acquisition and integration with HVAC&R will create an enhanced engineering services offering for customers’ safety needs, as well as providing opportunities for growth in the UK and internationally.
David Gasparro, Partner at Lonsdale Capital Partners comments, “We have been very impressed by the HVAC&R