Cubigel sold to US private equity firm
ACC Spain, the Cubigel commercial compressor arm of the ACC Group has been sold to US private equity company American Industrial Acquisition Corporation (AIAC).
As a result, the company has changed its name to Cubigel Compressors SA.
AIAC is said to have extensive expertise mainly in the automotive and aerospace sectors. It owns 29 factories in North America, Europe and Asia, employs more than 3,000 people with a turnover of €650m.
The history of Cubigel company can be traced back to 1962 with the formation of Unidad Hermética initially producing compressors under licence from Tecumseh.
It joined the Electrolux Group in 1988 with the Cubigel name being created for its commercial refrigeration activities. The company was acquired by ACC in 1998.