Syntagma Capital Announces Strategic Investment in SKK Manufacturing Through LFB Group

Paris, July 30th – Following LFB Group’s acquisition of Hydronic in June 2026, Syntagma Capital is pleased to announce another strategic investment by its portfolio company. LFB Group, a leading provider of commercial and industrial HVAC and refrigeration solutions, has completed a significant strategic investment in SKK Manufacturing S.A., a Portuguese refrigeration solutions business operating commercially under the KoolSys name and brand.

Koolsys is a long-standing partner of LFB Group and designs, manufactures and markets commercial refrigeration rack systems based on natural refrigerants for a broad range of market segments. Headquartered in Porto, Portugal, the company employs approximately 45 people and has built a strong reputation for engineering excellence, product quality and innovation in sustainable refrigeration solutions.

This partnership marks another important milestone in LFB Group’s growth strategy. It further strengthens the Group’s commercial refrigeration business, bringing together leading brands including Friga-Bohn and Koolsys, while enhancing its technological capabilities in natural refrigerant solutions.

The transaction is fully aligned with LFB Group’s ambition to build a leading European HVAC and refrigeration platform through a combination of organic growth and targeted strategic investments in highly specialized businesses with strong technological expertise.

The existing management team will remain in place and continue to lead SKK Manufacturing, ensuring continuity for customers, employees and business partners while benefiting from LFB Group’s industrial expertise, commercial network and international footprint.

“Since partnering with LFB Group, our objective has been to support the creation of a leading European HVAC-R platform through operational improvement and targeted acquisitions. SKK Manufacturing S.A perfectly illustrates this strategy and further strengthens the Group’s position in a resilient market benefiting from long-term structural growth driven by energy efficiency and the transition to sustainable climate technologies.”

— Sébastien Le Moult, Managing Partner, Syntagma Capital

About Syntagma Capital

• Strengthens LFB Group’s position in the European commercial refrigeration market.

• Enhances the Group’s R&D capabilities and technological expertise through access to differentiated natural refrigerant technologies.

• Expands LFB Group’s manufacturing footprint with a production facility in Portugal.

• Accelerates SKK Manufacturing’s growth by leveraging LFB Group’s commercial platform and providing access to a broader customer base across the EMEA region.

• Preserves the entrepreneurial culture while benefiting from the support of a larger industrial platform and an experienced management team.

About Syntagma Capital

Established in 2009, Syntagma Capital is an investment management company that partners with businesses capable of leveraging its hands-on operational expertise to accelerate growth and improve performance, creating value for employees, customers, suppliers, and shareholders alike.

Since inception, Syntagma’s team has deployed more than €1.1 billion in over 40 companies, representing over €4 billion in combined revenues and employing more than 11,000 people worldwide. The team has extensive experience executing complex carve-outs and transformational investments across Europe, successfully separating and developing businesses from both public and private multinational groups.

As a signatory of the UN Principles for Responsible Investment (UN-PRI), Syntagma integrates high ESG standards into all investment decisions and actively supports portfolio companies in building sustainable, long-term value.

Headquartered in Brussels, Syntagma also maintains offices in Luxembourg and Paris, reinforcing its ability to support European businesses across multiple jurisdictions and international markets.

More information: www.syntagmacapital.com