# ICG and Hermès family office Krefeld acquire French HVAC services group Climater for EUR 750m

Intermediate Capital Group plc (ICG) and Krefeld SAS, the Hermès family office, jointly acquired Groupe Climater SAS, a French HVAC services provider, from Cobepa and Sagard at an implied enterprise value of approximately EUR 750 million.

- Type: Acquisition
- Announced: 2025-03-30
- Where: France
- Value: $810.0M (750.0M EUR)
- Status: completed
- Products: HVAC services
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Cobepa](https://endata.com/companies/5154.md) (partner)
- [Sagard](https://endata.com/companies/7482.md) (partner)
- [Intermediate Capital Group](https://endata.com/companies/16827.md) (acquirer)
- [Krefeld](https://endata.com/companies/82756.md) (acquirer)
- [Groupe Climater](https://endata.com/companies/83785.md) (target)

## Sources

- [mainsights.io](https://www.mainsights.io/ma-news/icg-and-hermes-family-office-krefeld-acquire-french-hvac-services-group-climater-for-approximately-eur-750m-implying-2025-evsales-of-15x-and-evebitda-of-125x), 2025-03-30: "ICG and Hermès family office Krefeld acquire French HVAC services group Climater for approximately EUR 750m, implying 2025 EV/Sales of 1.5x and EV/EBITDA of 12.5x."

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