Norwegian private equity house Nord Kapitalforvaltning has acquired refrigeration company Kuldeteknisk.

Founded in 2004, Tromsø-based Kuldeteknisk supplies cooling technology to fisheries, food processing, retail grocery industry and construction.

Nord Kapitalforvaltning has acquired a majority 62 per cent stake from its NOK431m (£41.4m) Nord II fund.

Nord Kapitalforvaltning was established in 2011 and has five employees. It closed its first fund, Nord I, in 2016.

Beechbrook Capital provided a unitranche loan to Nord Kapitalforvaltning from its Private Debt III fund which offers leverage to private equity-sponsored businesses across Europe.

Nord Kapitalforvaltning partner Anders Høifødt said Beechbrook’s “flexibility” ensured a “swift and efficient documentation process”.