Nordic Climate Group Expands UK with Manchester HVAC Deal 2026

Key Points

• Nordic Climate Group, a Swedish climate solutions firm, has acquired Manchester-based Kool It Services.
• Kool It Services, founded in 1972 in Droylsden, provides commercial cooling and heating installation, service and maintenance.
• The deal is led by second-generation owners Rick and Clare Dearden and will keep Kool It’s local brand and leadership.
• Kool It employs 19 staff and serves offices, retail, healthcare and food and beverage sectors across the region.
• The acquisition strengthens Nordic Climate Group’s presence in Northern England and its energy-efficient commercial HVAC portfolio.
• Service and maintenance are described as a growing part of Kool It’s business, supporting recurring revenue.
• CN Strategic Advisors, run by Dave Baggott and James Cox in Manchester and Cheadle, provided corporate finance advice.
• Ronald Coutts (spelled Ronnie Coutts in the source) is CEO of Nordic Climate Group UK.
• All statements from the Deardens, Coutts and Baggott are quoted directly from the original announcement.
• The sum paid for Kool It Services is undisclosed.

Manchester (Manchester Mirror) – A commercial cooling and heating specialist has been acquired by a Swedish climate solutions group that is rapidly expanding its UK operations, marking another strategic move in the region’s energy-efficient building services market.

Who Is Behind the Acquisition and the Target Firm?

According to the acquisition announcement, Sweden’s Nordic Climate Group has acquired Kool It Services, a Droylsden-based firm that specialises in commercial cooling and heating installation, service and maintenance. The purchase price has not been disclosed, but the deal is described as a significant step in Nordic Climate Group’s expansion strategy in the UK.

Kool It Services was founded in 1972 as a family business and is now in its second generation, led by Rick and Clare Dearden. The company employs 19 staff and serves customers across multiple sectors, including offices, retail, healthcare and food and beverage. Over the years, it has built a strong regional position through long-term customer relationships, technical expertise and a reputation for quality and service.

Nordic Climate Group is described as an “acquisitive Scandinavian business which is expanding quickly in the UK”. The acquisition is intended to strengthen the group’s presence in Northern England and expand its position within energy-efficient cooling and heating solutions for commercial buildings.

What Does the Deal Mean for Kool It’s Operations?

According to the acquisition statement, Kool It will continue to operate under its existing local brand and leadership as part of Nordic Climate Group. This means that Rick and Clare Dearden will remain in charge, preserving the company’s local identity and entrepreneurial approach.

The announcement highlights that service and maintenance are also a growing part of Kool It’s business, supporting long-term customer relationships and recurring revenue. This trend is expected to continue under the new ownership, with the group aiming to share knowledge and experience across its portfolio.

The deal was facilitated by CN Strategic Advisors, which has offices in Manchester and Cheadle and is led by Dave Baggott and James Cox. The advisors provided corporate finance advice to Kool It on the transaction, including advice on value and deal structure, support during due diligence and managing the deal through to completion.

How Do the Key Figures Describe the Transaction?

Rick and Clare Dearden, managing directors of Kool It Services, said:

“Kool It has developed over many years through close customer relationships, committed employees and a strong local reputation.”

They added that

“Joining Nordic Climate Group allows us to continue building on that foundation while becoming part of a group that shares our long term mindset and entrepreneurial approach.”

Ronnie Coutts, CEO of Nordic Climate Group UK, said:

“Kool It is a highly respected business with deep technical expertise and a strong local presence in an important region for us.”

He also stated that

“The company shares many of the qualities we value in Nordic Climate Group, including strong local entrepreneurship, long term thinking and opportunities to share knowledge and experience across the group.”

Dave Baggott, partner at CN Strategic Advisors, said: “We’re thrilled we’ve been able to support Rick and Clare through this important process, enabling them to secure a bright long term future for Kool It, its customers and employees as part of Nordic Climate Group.”

Why Is This Deal Significant for the UK Commercial HVAC Market?

The acquisition reflects a broader trend of Scandinavian climate solutions groups expanding in the UK, particularly in Northern England, where energy-efficient building services are increasingly prioritised. By adding Kool It Services to its portfolio, Nordic Climate Group strengthens its ability to offer integrated cooling and heating solutions for commercial buildings.

The move also underlines the importance of service and maintenance as a revenue driver in the commercial HVAC sector. With Kool It’s growing maintenance division, the group can leverage recurring revenue streams while deepening long-term customer relationships. This aligns with industry trends where clients prefer reliable, locally based providers who can deliver ongoing support.

What Are the Regional and Operational Implications?

The deal further strengthens Nordic Climate Group’s presence in Northern England, a region described as important for its growth strategy. By retaining Kool It’s local brand and leadership, the group aims to maintain the firm’s reputation and customer trust while integrating it into a wider network.

Kool It’s 19 staff members are expected to continue their roles under the new ownership, with the group emphasising a long-term mindset and entrepreneurial approach. This approach is likely to minimise disruption and preserve the company’s operational continuity.

The involvement of CN Strategic Advisors highlights the role of local corporate finance expertise in facilitating such transactions. Their support on value, deal structure, due diligence and completion underscores the complexity of cross-border acquisitions in the building services sector.

Background of the Development

This acquisition is part of Nordic Climate Group’s ongoing expansion strategy in the UK, where it is seeking to build a strong footprint in energy-efficient cooling and heating solutions for commercial buildings. The group’s interest in Kool It Services reflects its focus on acquiring businesses with deep technical expertise, strong local presence and long-term customer relationships.

Kool It Services, founded in 1972, has evolved from a family business into a second-generation operation under Rick and Clare Dearden. Its regional reputation, technical capabilities and growing service and maintenance division made it an attractive target for Nordic Climate Group. The deal was structured to allow Kool It to retain its local brand and leadership, ensuring continuity for customers and staff.

The transaction was supported by CN Strategic Advisors, a Manchester and Cheadle-based firm led by Dave Baggott and James Cox, which provided corporate finance advice throughout the process. Their involvement highlights the importance of local advisory expertise in facilitating cross-border acquisitions in the UK building services market.

Prediction: How This Development Can Affect Commercial Customers and Local Staff in Manchester and the North

For commercial customers in Manchester and Northern England, this development is likely to bring greater access to integrated, energy-efficient cooling and heating solutions backed by a larger Scandinavian group. The retention of Kool It’s local brand and leadership means that clients can expect continuity in service quality, while potentially benefiting from broader knowledge sharing and technical resources within Nordic Climate Group.

For Kool It’s 19 staff members, the acquisition is described as a way to secure “a bright long term future” for the company, its customers and employees. The emphasis on long-term thinking and entrepreneurial approach suggests that the group intends to maintain the company’s operational culture, which should help reduce uncertainty for employees. However, as part of a larger acquisition, there may be future opportunities for cross-company collaboration, training and career development within Nordic Climate Group’s wider network.