International chemicals distribution portfolio company 2M Holdings Ltd has expanded its presence in Germany by acquiring domestic dry ice producer CE-02 Trockenesis GmbH.
2M Chairman and CEO Mottie Kessler said this acquisition will be a “stepping stone to add product lines” to support the group’s suppliers and new customers. Financial details of the deal were not disclosed.
CE-02 is a privately held, long-standing producer and supplier of dry ice to customers in the food, catering and life science industries. It was established in Düsseldorf, Germany, in 1999 and owns and operates dry ice production units which produce and distribute slices, nuggets and pellets.
In addition, the company also manages a dedicated fleet of special insulated boxes and other transportation methods that deliver dry ice to key sectors in Germany from its prime location near to Düsseldorf airport.
It is understood that Reiner Niethammer, who holds years of experience in the industrial gas industry, will become Managing Director of CE-02 whilst its selling shareholders will continue to support the company’s growth under 2M’s new ownership.
2M is a portfolio of strong brand chemical distribution and related chemical services companies of samples management, storage and blending.