Former CEO of AHT Cooling Systems also becomes a shareholder of the hydrocarbon compressor manufacturer.
Secop manufactures specialized refrigeration compressors such as these R290 ones.
Secop Group, a German hydrocarbon-compressor manufacturer, has appointed Frank Elsen as its new chief financial officer and shareholder, effective January 16, 2020.
Elsen was previously the CEO of AHT Cooling Systems, one of Secop’s commercial refrigeration customers.
“I am confident that Frank Elsen, with his experience from AHT [Cooling Systems], is a great addition to the Secop leadership team,” said Ricardo Maciel, CEO of the Secop Group, in a statement. “Under his leadership, our finance team will continue to be an excellent business partner to all business divisions, to the management of Secop, and to its shareholders.”
Secop Group develops and produces compressors, mainly for the light commercial and mobile cooling industries, and has an extensive line of R290 and R600a hydrocarbon compressors. The Group has around 1,800 employees and is headquartered in Hamburg, Germany, with production facilities in Austria, China and Slovakia.
Secop was acquired by the ESSVP IV fund in September 2019, making its comeback as a standalone company after being part of Nidec since 2017. The ESSVP IV fund is an investor in industrial businesses.