This operation marks SYCLEF’s second location in Romania.
The finalization of this partnership remains subject to obtaining the necessary regulatory approvals, notably from the Romanian Competition Council and the Commission for the Examination of Foreign Direct Investments (CEISD).
“For more than 30 years, we have been building HORECO around a central idea: providing our customers with reliable, high-performing, and sustainable industrial refrigeration solutions. Joining SYCLEF opens a new chapter in our development. We share the same culture of technical excellence, the same closeness to our customers, and the same ambition to build a leading European player, all while preserving the identity and values that make HORECO strong,” said Florin NICULESCU, CEO and shareholder of HORECO.
Florin NICULESCU, the current CEO, remains a shareholder and will continue to lead the company’s management and strategic development.
Founded in 1995 and based in Buzau (eastern Romania), the HORECO Holding currently is a leading player in the Romanian industrial refrigeration market, bringing together two companies: HORECO Impex and FRIGOCLIMA. The Group employs more than 90 employees and generates revenue of over EUR20 million.
HORECO supports players in the food industry and logistics sectors with refrigeration solutions tailored to the most demanding environments. The group also has recognized expertise in CO₂ and NH3 installations, energy management and optimization systems.
“With HORECO, a leading player in industrial refrigeration in Romania, we are strengthening our presence in this strategic market. Recognized for its technical know-how and the quality of its teams, HORECO is a first-rate partner to support our development in the country. We are confident that this collaboration will open new avenues for growth and foster the sharing of expertise, for the benefit of both our customers and our employees,” said Guillaume Burvingt, International Director of SYCLEF.
In view of the operation, the founders of HORECO were assisted in this partnership by Alexandru Mocanescu, Partner with KPMG Legal Romania (Toncescu & Asociatii), for legal matters, and Florin Păunescu, on behalf of CF Financial Advisors SRL, and Petre Gabriel Ion from IPG Debt Management Services SRL, acting as M&A consultants, for financial and strategic matters.
SYCLEF was assisted by Stefan Mantea (Partner) working closely with Alexandra Siminiceanu (Senior Managing Associate) and Larisa Jurca (Managing Associate), all members of the law firm Bancila, Diaconu si Asociatii. For financial matters, SYCLEF was advised by Cromwell Evan Global Romania’s team led by Managing Partner, Oana Motoi.