SPIE shares fall 6% after purchase of Dutch refrigeration firms

Investing.com — SPIE shares fell more than 6% on Tuesday after the company announced the acquisition of Dutch firms Voets & Donkers Koeltechniek B.V. and VND Technical Services B.V.

Founded in 1963, Voets & Donkers employs 69 permanent staff at its locations in Schijndel and Drachten.

The company specializes in refrigeration and air handling systems and reported a turnover of 30 million euros in 2024. Its customer base includes sectors such as dairy and food processing, horticulture, pharmaceuticals, storage and high-tech machinery.

SPIE stated that this acquisition strengthens its expertise in industrial refrigeration facilities, air processing systems, heat pumps, industrial automation and process equipment engineering.

The company highlighted the food and pharmaceutical sectors as areas with potential for growth, especially in the areas of refrigeration, ice cream technology, industrial heat pumps and HVAC systems.

“This acquisition also allows us to increase our visibility in the areas of refrigeration, freezing technology, industrial heat pumps and HVAC,” Joti Hakkert, director of SPIE's Industrial Services division, said in a statement.

Hakkert added: “This presents new opportunities to expand our capacity in line with the projects we are already carrying out in the field of industrial HVAC. This acquisition fits perfectly with our strategic growth objectives in the industrial market.”

The company's founders Marc Voets and Peter Donkers welcomed the deal. Donkers said: “With the scale and power of SPIE, we are better equipped to respond to developments in our industry. Working with SPIE's experts and colleagues from other departments, we can take our services to the next level.”

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