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A few months ago, we announced the acquisition of Groupe Jordan by Kaeron, a search fund in partnership with WAD Capital, with the ambitious goal of building a leading HVAC platform across the Benelux and France. Following this first transaction—a company generating around €20M in revenue with approximately €1.5M in EBITDA—the SF has now completed its second acquisition: Chauffage Eric Demory. Debt financing was provided by CBC.
Based in Lobbes, Belgium, Chauffage Eric Demory was founded in 1990 and has built an outstanding reputation for delivering premium heating, sanitary, and water softener solutions to high-end residential customers in the Hainaut region. Working with leading brands such as Viessmann and Buderus, the company has set a benchmark for quality and service excellence.
Frédéric Schilling explained that this second acquisition is a perfect fit with the vision of creating a leading HVAC services platform in the Benelux: “While Groupe Jordan primarily focuses on B2G customers, Eric Demory brings deep expertise in the high-end B2C segment within the same geographical area. This combination allows us to serve the full spectrum of customers in Wallonia, with specialized excellence in each segment. As part of our integration strategy, Groupe Jordan’s residential customers will be progressively transferred to Demory, enabling each entity to focus on its core strengths and deliver even better service to its respective customer segments.”
Karl Verardo from Groupe Jordan will take on the leadership of Demory, bringing proven operational expertise and a deep understanding of the HVAC sector to accelerate growth and operational excellence.
Frédéric added: “With the support of WAD Capital, Wallonie Entreprendre, and CBC Banque & Assurance, we remain committed to delivering exceptional service quality, investing in our teams, and pursuing further strategic growth opportunities.”
DD: LMBD / DD: Ernst & Young
