# Arcadia SGR acquires 60% stake in Kfl Est and Cbs Est

Arcadia Private Equity SGR, through the Arcadia Small Cap II fund, acquired a 60% stake in Kfl Est S.r.l. and Cbs Est S.r.l., both Italian HVACR specialists. Kfl Est manufactures custom heat exchangers, and Cbs Est produces custom products for air conditioning, refrigeration, and heating.

- Type: Acquisition
- Announced: 2022-07-20
- Where: Gorizia and Udine, Italy
- Status: completed
- Products: heat exchangers, shaped connecting pipes, manifolds, distributors
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Arcadia Private Equity SGR](https://endata.com/companies/64268.md) (acquirer)
- [Kfl Est S.r.l.](https://endata.com/companies/64269.md) (target)
- [Cbs Est S.r.l.](https://endata.com/companies/64270.md) (target)

## Sources

- [world-ma.com](https://world-ma.com/transactions/detail/news/arcadia-sgr-acquired-a-majority-stake-in-the-hvacr-specialists-kfl-est-and-cbs-est), 2022-07-20: "Arcadia SGR acquired a majority stake in the HVACR specialists Kfl Est and Cbs Est."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.