What Inditer does

Inditer S.A. (Industria de Intercambiadores Térmicos) is a privately held Spanish industrial manufacturer founded in 2005 and headquartered in Montilla, Córdoba, with 51–100 employees and a 100% Spanish-capital ownership structure. The company designs, manufactures, and sells custom-engineered heat exchangers and thermal management equipment — evaporators, air condensers, dry coolers (standard, high-temperature, and adiabatic variants), CO2 transcritical equipment, air heaters, solar dissipators, and data-center HVAC units — built primarily with copper tubes and aluminum fins in a V-Baffle profile. Its product portfolio is organized around refrigerant families (HFC, CO2, A2L) and is supported by two proprietary thermodynamic calculation programs and advanced 3D design tools that are used internally for design optimization and made available to customers as selection software.

Inditer's customers are industrial and commercial operators requiring reliable thermal exchange for refrigeration, air conditioning, and process cooling — including refineries, power plants, petroleum and gas facilities, manufacturing sites, and data centers. Pricing is quote-based and project-driven: the company does not publish list prices, and customers must request configuration-specific quotations through the website. Distribution is direct sales with a consultative model, supported by a multi-language (ES/EN/FR/DE/IT/PT) website, a customer inquiry form, and corporate LinkedIn and Facebook presence. The company holds ISO 9001:2015 and ISO 14001:2015 certifications under an integrated management system and operates an in-house manufacturing management system that tracks orders from entry through fabrication to shipment.

The business model is fundamentally hardware sales of configured-to-order industrial equipment, with revenue recognition tied to project milestones. Inditer serves its Spanish home market directly and signals active export intent into Germany, France, Italy, and Portugal through localized digital channels. The company has no disclosed external funding, M&A history, or named institutional shareholders, consistent with a founder-owned, organically financed specialist manufacturer whose expansion has been funded out of operating cash flow over two decades.

Name

Inditer

Legal name

INDUSTRIA DE INTERCAMBIADORES TÉRMICOS, S.A.

Website

https://inditer.es

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

Inditer S.A. is a privately held Spanish manufacturer of custom-engineered heat exchangers and industrial cooling equipment (evaporators, dry coolers, condensers, CO2 transcritical units, data-center HVAC), serving industrial, commercial, and process-cooling customers primarily across Spain and other European markets.

Ownership category

akta.pro rank

Product category

Industrial Heat Exchangers

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334), Heating Equipment (except Warm Air Furnaces) Manufacturing (333414)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Refrigeration & Service Industry Machinery (3580)

akta.pro primary industry

Heat Exchangers & Thermal Transfer Equipment (IMAHAKAC)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Cooling Systems & Thermal Management (CRAC/CRAH, Chillers, Liquid Cooling) (HDABAKAD)

Keywords

• Industrial heat exchangers
• Refrigeration equipment
• Industrial cooling systems
• Air conditioning components
• CO2 cooling equipment

Headquarters

HQ city

Córdoba

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Heat Exchanger and Related Equipment Sales: Inditer generates revenue primarily through the manufacture and sale of thermal exchangers, including evaporators, air condensers, dry coolers, adiabatic coolers, CO2 equipment, air heaters, and related industrial refrigeration and air conditioning products. The company emphasizes custom-designed solutions tailored to each client's specific needs, suggesting a project-based and configurable product sales model.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Inditer manufactures and sells custom-designed heat exchangers and thermal exchange equipment for industrial refrigeration and air conditioning applications. The product range includes evaporators, CO2 evaporators, gas coolers, dry coolers (standard, high-temperature, and adiabatic variants), air condensers, aircoolers, air heaters, solar heat dissipators, CO2 desuperheaters, and data center air conditioning units. All units are built with copper tubes and aluminum fins using V-Baffle profile technology and supported by proprietary calculation software.

Product overview

Inditer S.A is a manufacturer of heat exchangers for commercial and industrial refrigeration systems, offering a comprehensive portfolio of products including evaporators, CO2 evaporators, gas coolers, dry coolers (standard, high-temperature, and adiabatic variants), air condensers, aircoolers, air heaters, solar heat dissipators, CO2 desuperheaters, and data center air conditioning units. The company also provides custom thermal exchangers built with copper tubes and aluminum fins using V-Baffle technology. All products are supported by proprietary calculation software that optimizes performance based on physical and thermodynamic variables. The product range is organized around different refrigerant types (HFC, CO2, A2L) and configuration types (single/double V-profile, mesa/simple).

Differentiator

Problem solved

Functional benefit

Products and services

• Evaporators (Evaporadores) Equipment designed to cool air through various configurations adapted to multiple applications in the industrial refrigeration market.
• CO2 Evaporators (Evaporadores CO2) Equipment designed for efficient thermal changes with processes that are efficient and environmentally friendly, adapted to demand for cold installations using natural refrigerants.
• CO2 Gas Cooler (Gas Cooler CO2) Heat exchange equipment designed for cooling refrigerant CO2 gas in transcritical refrigeration systems.
• Dry Coolers (Aeroenfriadores) Equipment that cools fluid using a dry heat exchanger in a closed circuit, designed and built with long-lasting materials for industrial processes.
• High-Temperature Dry Coolers (Dry Coolers de Alta Temperatura) Dry coolers designed to cool fluids at temperatures between 70°C and 110°C, featuring impeller fans positioned to withstand elevated air temperatures.
• Adiabatic Dry Coolers (Dry Coolers Adiabáticos) Evaporative dry coolers using water evaporation systems that reduce energy consumption while cooling fluids to temperatures slightly below ambient.
• Air Condensers (Aerocondensadores) Equipment for condensing refrigerant gas in direct expansion systems, transferring heat from the interior fluid to air passing through the unit for industrial cooling and air conditioning applications.
• Aircoolers Air cooling equipment for industrial refrigeration applications.
• HVAC Air Heaters (Aerotermos de Climatización) Simple and economical solution for heating or cooling environments with large air volumes, suitable for air conditioning applications.
• Solar Air Heaters (Aerotermos de Disipación/Solares) Solar air heaters typically installed on building rooftops alongside collectors for thermal energy dissipation.
• CO2 Desuperheaters (Desrecalentadores CO2) CO2 desuperheating equipment for reducing refrigerant temperature in transcritical CO2 refrigeration systems.
• Data Center Air Conditioning (Climatización CPD) Air conditioning solutions specifically designed for data centers to manage heat dissipation from IT equipment.
• Custom Thermal Exchangers (Intercambiadores Térmicos) Custom-designed thermal exchangers for various industrial applications, built with copper tubes and aluminum fins using V-Baffle profile technology.

Quantifiable outcome

• Products that increase energy efficiency in buildings, companies, and industries

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators2 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• Funke Wärmetauscher: German manufacturer of plate and shell-and-tube heat exchangers for industrial, HVAC, and process applications. Direct competitor in the European custom heat exchanger market with overlapping customer base in industrial process cooling.
• Kelvion: Specialist manufacturer of industrial heat exchangers serving HVAC, refrigeration, power, and process industries. Closely comparable to Inditer in product scope (evaporators, condensers, dry coolers) but with a much larger global footprint and broader standard product catalog.
• Tranter (part of Chart Industries): Global manufacturer of plate heat exchangers used in HVAC, refrigeration, and industrial process applications. Comparable technology and end-market overlap with Inditer, now operating under Chart Industries' broader industrial gas and process equipment portfolio.
• Güntner: European manufacturer of heat exchangers focused on refrigeration and HVAC applications, including evaporators, condensers, and dry coolers. Highly comparable product overlap with Inditer and a similarly industrial customer base, with stronger international brand recognition.
• SPX Heat Transfer: Manufacturer of heat exchangers for HVAC, refrigeration, and industrial process applications, including air-cooled and shell-and-tube units. Direct product overlap with Inditer's dry coolers, condensers, and custom heat exchangers.

Broad incumbents

• Alfa Laval: Global leader in heat transfer, separation, and fluid handling with a much broader product portfolio. Directly competes in industrial heat exchangers but at a vastly larger scale and with global service reach, making it the primary large-scale competitor to Inditer's custom heat exchanger business.
• API Heat Transfer: Industrial heat exchanger manufacturer serving chemical, petrochemical, and process industries. Overlaps with Inditer's refinery and process cooling exposure but operates at greater scale and across more geographies.
• Xylem: Global water technology company with significant HVAC and industrial cooling product lines including plate heat exchangers. Overlaps with Inditer's process cooling business but operates at vastly larger scale with broader water and fluid handling portfolio.
• SWEP (Dover): Part of Dover Corporation, SWEP manufactures brazed plate heat exchangers used in HVAC and refrigeration. Comparable on the refrigeration heat exchange side though focused on a different form factor (brazed plate vs. fin-and-tube) and backed by a large industrial parent.

Regional players

• Hamon: Belgium-based engineering group with heat exchanger and cooling system operations serving power and industrial markets. Comparable on the industrial heat transfer side though primarily focused on power plant applications rather than commercial refrigeration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookes-es.facebook.com/InditerHeatExchanger
• LinkedInlinkedin.com/company/inditer-heat-exchanger/?originalSubdomain=es
• Xx.com/inditer_sa

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Inditer