Business

Lisburn refrigeration firm Lowe in landmark double acquisition

Lowe chief executive Rodney Lowry
Lowe chief executive Rodney Lowry Lowe chief executive Rodney Lowry

LISBURN-based refrigeration and catering equipment rental specialist Lowe has made a significant expansion by purchasing two strategic businesses in Britain - Abbey Design Associates (ADA) and Spherica Systems.

The acquisition of ADA adds a substantial level of commercial refrigeration design and consultancy expertise to the group.

And Spherica, a recognised innovator in the IoT remote monitoring space, will join Lowe’s global LoweConex brand, bringing a ground-breaking and disruptive unified data platform to the international marketplace.

“With innovation and a customer-focused approach at our core, these two expectational businesses are a perfect fit to join our high-performing group of brands,” said Lowe's chief executive Rodney Lowry.

“There are excellent synergies between the companies, and this can be seen in aligned cultures around customer service and our reputation as trusted innovators.

“Together we can take a great step forward, providing market leading end-to-end asset management control through IoT technology platforms, a first for the food grocery market.”

He added: “The teams from Lowe, ADA and Spherica complement each other extremely well and I'm delighted to have all formalities of the deal completed, clearing the way for our teams to start the business of building a collective powerhouse in food retail and associated markets.”

Garry Turner, founder of both ADA and Spherica, “The acquisition of our businesses by Lowe is a welcome milestone for us.

“Having the backing of such a large, globally respected company unlocks new and significant growth potential in markets and geographies that historically would have been out of reach.”

Founded in 1977, Lowe provides worldwide rental options on refrigeration and catering equipment and temporary kitchens to retailers, food distribution companies, large-scale F&B exhibitions, and events.

It has a network of offices, teams and distribution hubs across USA, Europe, Middle East and Asia which have enabled it to serve on the ground 40 countries and sell into more than 140 countries.