Browne Jacobson advises on sale of MC Refrigeration to Nordic Climate Group in inward investment

A company that provides cooling and heating systems in the Nordics and Netherlands has entered the UK market for the first time in a deal supported by Browne Jacobson. 

The UK and Ireland law firm’s corporate team advised MC Refrigeration on its sale to Nordic Climate Group (NCG).

Wellingborough-based MC Refrigeration specialises in the installation, maintenance, removal and disposal of commercial refrigeration display equipment and cold rooms. The business serves clients across the UK, including major high street and national branded operators, with engineers based across the country.

NCG, a £400m revenue firm headquartered in Sweden, has identified the UK and Ireland as key markets for inward investment amid rising demand for low-energy cooling and heating systems, as well as natural refrigerants. 

The MC Refrigeration deal was one of three simultaneous acquisitions collectively worth more than €50m (£44m). It also took over Irish operator Anglo Irish Refrigeration Group and Scottish firm CSD Air Conditioning to form a new presence in the UK and Ireland. All three companies will retain their identity post-acquisition while gaining scale as part of the wider business. 

Ryan Brown, Partner, and Alex O'Donoughue, Associate, in Browne Jacobson’s corporate team advised the selling shareholders, with support from Craig Thomas (Principal Associate, tax) and Maz Dannourah (Senior Associate, employment).

Ryan said: “It was a pleasure to support MC Refrigeration on a deal that supports its ambitious growth plans by joining an international leader in a burgeoning sub-sector of the UK and Ireland’s manufacturing industry.”

MC Refrigeration was founded by Murray and Elizabeth Carvell in 2004 and is now led by their daughter Laura Dobson, who will continue to lead the business post-acquisition, with Murray Carvell remaining involved in an advisory capacity.

Laura said: “Being part of Nordic Climate Group was an obvious choice for us. It will give us immediate access to a wider network of like-minded and customer focused refrigeration businesses across the UK and Ireland, while retaining our brand and culture that is at the heart of our success. As a team, we’re really looking forward to the opportunity to grow and develop our business with Nordic Climate Group.”

Browne Jacobson’s Inward investment in the UK and Ireland 2025 report found that 60% of respondents anticipated higher deal volumes this year. Manufacturers showed a robust optimism, driven by strategic consolidations and technological advancements. 

The firm surveyed more than 380 C-suite executives from £100m+ UK and Ireland businesses across manufacturing, real estate and construction, retail and supply chain, technology, and energy and infrastructure.