Ex-Rhône team inks second deal with $80m carve-out

A private equity firm formed by former Rhône Group veterans has inked its second deal, buying an industrial cooling technology business for $80m.

Px3 Partners, a London-headquartered midmarket private equity firm, has bought Italy-based Cofimco from US-listed specialty engineering company Chart Industries.

Petter Johnsson, Gianpiero Lenza and Sébastien Mazella di Bosco set up Px3 in 2021 after long careers at private equity firm Rhône Group.

In May, the firm snapped up a clean-tech business from US-based Celeros Flow Technology, a manufacturer of industrial filtration systems owned by buyout giant Apollo Global Management.

PX3 will look to drive organic revenue growth at Cofimco via an expansion of the company’s presence in North America and Asia.

It also hopes to capitalise on new end markets such as renewables, data centres and carbon capture

Founded in Italy in 1975, Cofimco designs and manufactures aluminium and fiberglass axial fans used in “mission critical industrial cooling applications”.

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