Announced

Tabreed and CVC DIF to acquire PAL Cooling from Multiply Group.

Synopsis

Tabreed, a district cooling company, and CVC DIF, an infrastructure strategy of CVC, agreed to acquire PAL Cooling, a district cooling plants owner, from Multiply Group, an investment holding company. Financial terms were not disclosed. “PAL Cooling services its clients under long-term, concession-based contracts, in a fast-growing urban environment. The company has a strong track record of developing and constructing high-quality and electrified district cooling plants to deliver reliable, energy-efficient cooling solutions. Building on CVC DIF’s long-term track record in the sector, we are delighted to partner with Tabreed, a leading district cooling company in the Middle East. Together with our partners, we are convinced that PAL Cooling is a high-quality investment that will provide our investors with solid returns, while offering the potential for long-term growth and sustainable value creation," Gijs Voskuyl, CVC DIF Managing Partner.

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