HORECO, a Romanian group specializing in industrial refrigeration, is joining SYCLEF, an international player specializing in commercial refrigeration, industrial refrigeration, and air conditioning (HVAC).

This operation marks SYCLEF’s second establishment 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).

Founded in 1995 and based in Buzău, in eastern Romania, the HORECO Holding is today a leading player in industrial refrigeration in the Romanian market. It brings together two companies: HORECO Impex and FRIGOCLIMA.

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.

The group employs more than 90 people and generates revenue of over €20 million.

Florin NICULESCU, the current CEO, remains a shareholder and will continue to lead the company’s management and strategic development.

Statements on the occasion of the signing:

Florin NICULESCU, CEO of HORECO: “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.”

Guillaume Burvingt, International Director of SYCLEF: “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.”

In view of the operation, the founders of HORECO were assisted in this partnership by Alexandru Mocănescu, 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.

Founded in 1995 and based in Buzău, HORECO is a leading player in industrial refrigeration in Romania. Recognized for its technical expertise, the quality of its work, and the closeness of its teams, HORECO supports its customers throughout their projects, from design through maintenance. The company has more than 90 employees and generates consolidated revenue of over €20 million. https://horeco.ro/

SYCLEF – SYCLEF is an international network of companies specializing in commercial refrigeration, industrial refrigeration, and HVAC (heating, ventilation, air conditioning). Present in France, Italy, Spain, Portugal, Belgium, the Netherlands, Ireland, Poland, Africa, the Indian Ocean region, and Romania, SYCLEF designs, installs, and maintains custom, sustainable, and high-performing technical solutions for a wide range of demanding sectors. Thanks to its local roots, the complementary nature of its expertise, and its on-the-ground support, SYCLEF combines the responsiveness and closeness of an SME network with the strength of a large group. SYCLEF brings together 73 companies, with 140 locations and nearly 3,850 employees.