# Arcadia acquires majority stakes in KFL EST and CBS EST

Arcadia, through its Arcadia Small Cap II fund, acquired majority stakes in KFL EST, a producer of custom air heat exchangers, and CBS EST, a manufacturer of copper tubes and distribution circuits for the HVACR sector. Both companies are based in Italy.

- Type: Acquisition
- Announced: 2022-07-25
- Where: Romans d'Isonzo (KFL), Varmo (CBS), Italy
- Status: completed
- Products: custom air heat exchangers, copper tubes and distribution circuits
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Arcadia Inc.](https://endata.com/companies/60713.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

- [financecommunity.it](https://financecommunity.it/arcadia-rileva-la-maggioranza-di-kfl-e-cbs-gli-advisor/), 2022-07-25: "Con queste due nuove acquisizioni, Arcadia completa il ciclo di investimenti del suo secondo fondo."

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