19 Dec 2025

RefSystems Joins the Syclef Group

"RefSystems, a refrigeration company serving Northern Italy's large-scale retail sector, has joined the Syclef group led by Syclef Italia and controlled by Syclef Holding. Cappelli Riolo Calderaro Crisostomo Del Din & Partners and Newinvest Corporation advised Syclef Holding, while Studio Consilium advised RefSystems. Management and technical directors will remain in their operational roles. The deal supports Syclef's European growth and energy transition strategy."

Cappelli Riolo Calderaro Crisostomo Del Din & Partners and Newinvest Corporation advised Syclef Holding, while Studio Consilium advised RefSystems. RefSystems, a company active in refrigeration for large-scale retail (GDO) across Northern Italy, has become part of the group led by Syclef Italia, a company controlled by Syclef Holding, the international French group operating in refrigeration and air conditioning systems. The management team formed by Roberto Porcu and Andrea Balzarotti, together with technical directors Michele Bianchi and Angelo Lanzafame, have confirmed their continued presence in the company's shareholding and will retain their managerial roles in the operational management of the business. The acquisition is fully aligned with Syclef's European growth strategy to create a federation of companies with strong technical expertise, solid local roots and shared values of operational excellence, customer service, commitment in the field and the energy transition. Cappelli Riolo Calderaro Crisostomo Del Din & Partners represented Syclef Holding with a team composed by: partner Valentina Dragoni; managing associate Giulia Martino; associate Adriano Facchini. Newinvest Corporation represented Syclef Holding with a team composed by: Alessandro Bonino (financial advisor). Studio Consilium represented RefSystems with a team composed by: partner Leo Amato (financial and legal advisor).
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