Cofrico

What Cofrico does

Cofrico, S.L. is a privately held Spanish industrial refrigeration and HVAC engineering company founded in 1985 and headquartered in Bergondo, A Coruña. The company designs, installs, and maintains bespoke industrial and commercial refrigeration systems — including cold storage chambers, freezing tunnels, chilling plants, and climate-controlled environments — for clients across food processing (meat, dairy, seafood, fruit & vegetable, bakery), logistics and cold storage, retail (supermarkets and hypermarkets), pharmaceuticals, and aerospace manufacturing. Cofrico pioneered CO2 transcritical and NH3 ecological refrigeration in Spain beginning in 2010, positioning the company ahead of the EU F-Gas regulatory phase-down of high-GWP HFC refrigerants.

The company's core technology is the Gradhoc AI/IoT platform, spun off as a separate legal entity in January 2023, which connects to installed refrigeration and HVAC equipment to deliver real-time monitoring, predictive maintenance via manufacturer-curve benchmarking, and automated energy optimization based on time-of-use tariffs and renewable energy availability. Cofrico's revenue model combines one-time project-based capital expenditure revenue from system design, installation, and commissioning, with recurring revenue from preventive and predictive maintenance contracts and a growing SaaS layer from Gradhoc subscriptions. The company supplements installation revenue with transactional income from energy savings certificate (CAE) trading and turnkey energy efficiency services under Spanish regulation.

Cofrico serves over 1,000 active customers through 11 regional offices across Spain and has completed 7,500+ projects over its 39-year history. The customer base includes major enterprises such as Carrefour, Lidl, Aldi, Alcampo, Eroski, Capsa Food, Covap, Europastry, Dachser, Sodexo, and Goodman. FY2023 revenue was €31 million (7% YoY growth), with management estimating ~€35 million for FY2024. The company is entirely founder-led, privately held with no external institutional investors, and employs approximately 200 technical, engineering, and administrative staff.

Name

Cofrico

Legal name

COFRICO, S.L.

Website

https://cofrico.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

251–500 employees

Short description

Cofrico is a Spanish private industrial refrigeration and HVAC engineering company founded in 1985, designing, installing, and maintaining cold storage, freezing, and climate control systems for food processing, logistics, retail, pharma, and aerospace clients across Spain via 11 regional offices.

Ownership category

akta.pro rank

Product category

Industrial Refrigeration Services

NAICS

Commercial and Service Industry Machinery Manufacturing (333310), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415)

SIC

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

akta.pro primary industry

Commercial & Industrial Refrigeration Systems (IMAHAKAA)

akta.pro secondary industries

Refrigeration Systems Maintenance (Commercial/Industrial) (BPABACAI), Refrigeration Installation & Replacement (Commercial) (HSAOAJAD), Preventive Maintenance Programs for Refrigeration Systems (HSAOAJAL), Refrigerants & F-Gas Accounting and Verification (HFCs, Kigali/EU F-gas) (EUAHADAK), Emissions Factors, LCA & Product Carbon Footprint (PCF) Platforms (EUABAEAD)

Keywords

• Industrial refrigeration
• Commercial refrigeration
• Industrial HVAC
• Predictive maintenance
• Energy optimization software

Headquarters

HQ city

Bergondo

HQ country

Spain

HQ region

Europe

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Industrial Refrigeration Design & Installation: Custom engineering, design, execution, and commissioning of industrial and commercial refrigeration systems (cold storage chambers, freezing tunnels, chilling plants, HVAC). Revenue recognized per project as one-time capital expenditure for clients. Projects range from small installations to large logistics platforms spanning hundreds of thousands of cubic meters.
2. Preventive & Predictive Maintenance Services: Ongoing maintenance contracts for installed refrigeration and HVAC systems. Includes scheduled preventive maintenance, remote monitoring via Cofriview365/Gradhoc, and predictive fault detection. Recurring revenue stream from established client base of 1,000+ customers.
3. Commercial Refrigeration: Installation and maintenance of commercial refrigeration systems for retail chains and small-to-medium commercial premises.
4. Industrial HVAC (Climatización Industrial): Design, installation, and maintenance of industrial air conditioning and climate control systems for technical environments including laboratories, production facilities, and logistics centers.
5. Energy Certificate Trading (CAE): Cofrico certifies energy savings for clients, generating CAE (Certificado de Ahorro Energético) credits that can be sold or traded, providing additional revenue and improving client ROI on efficiency investments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

Cofrico designs, installs, commissions, and maintains industrial and commercial refrigeration systems and industrial/commercial air conditioning installations across Spain, using natural refrigerants such as CO2 transcritical and NH3. Its service offering spans engineering, execution, and ongoing preventive and predictive maintenance, supported by the proprietary Gradhoc AI/IoT software platform that monitors installations in real time, optimizes energy consumption against tariff periods, and predicts equipment failures. The company serves enterprise industrial clients across food processing, logistics, retail, pharmaceutical, and aerospace verticals with a national network of 11 regional offices.

Product overview

Cofrico is an industrial and commercial refrigeration and air conditioning company offering an integrated portfolio of products and services centered on its Gradhoc software platform. The core offering encompasses industrial refrigeration (cold rooms, freezing tunnels, chilling plants), commercial refrigeration, industrial and commercial air conditioning, and maintenance services (preventive and predictive). The Gradhoc software platform serves as the central digital layer, connecting to installed refrigeration and HVAC equipment to provide real-time monitoring, AI-driven energy optimization, and predictive maintenance across customer sites. The company also develops proprietary R&D projects (EcoMAP, FoodTechInk) and issues Energy Efficiency Certificates (CAE).

Differentiator

Problem solved

Functional benefit

Brands

• Gradhoc: AI-powered software platform for asset management, energy efficiency optimization, and predictive maintenance in refrigeration and HVAC installations. The platform uses IoT, AI, and machine learning technologies.

Products and services

• Industrial Refrigeration (Frío Industrial) Industrial refrigeration solutions combining technology, reliability, and high performance for maximum energy savings, including engineering, design, technical advice, installation execution, commissioning, and specialized national technical service with remote management. Used by food, logistics, pharmaceutical, and aerospace enterprises for cold storage chambers, freezing tunnels, chilling plants, loading dock refrigeration, modified atmosphere rooms, rapid cooling systems, and ice production.
• Commercial Refrigeration (Frío Comercial) Commercial refrigeration services for retail chains and small-to-medium commercial premises, including commercial refrigeration cabinets, refrigerated display cases, walk-in cold rooms, and refrigerated display furniture for fresh and frozen products.
• Industrial Air Conditioning (Climatización Industrial) Industrial air conditioning solutions for technical environments, laboratories, and manufacturing processes requiring precise temperature, humidity, and pressure differential control. Used by industrial manufacturing, pharmaceutical, and biotechnology customers with strict environmental control and regulatory validation needs.
• Commercial Air Conditioning (Climatización Comercial) Commercial air conditioning services for retail spaces, offices, and public buildings, complementing Cofrico's commercial refrigeration offerings for retail and small-to-medium commercial premises.
• Preventive Maintenance (Mantenimiento Preventivo) Scheduled preventive maintenance service for refrigeration and air conditioning installations, adapted to the complexity of each installation, service level requirements, and the need to ensure operational continuity in critical processes. Represents a recurring revenue stream across Cofrico's 1,000+ client base.
• Predictive Maintenance (Mantenimiento Predictivo) Predictive maintenance service powered by the Gradhoc software platform, providing online continuous monitoring of installations, comparing real equipment performance against manufacturer-supplied polynomial theoretical curves to predict failures before they occur, integrated with energy optimization.
• Gradhoc AI Software Platform Cloud-based AI software platform for managing assets, energy optimization, and predictive maintenance of refrigeration and air conditioning installations. Uses IoT sensors, AI, and machine learning to monitor equipment in real time, reduce energy consumption by 15-40%, and detect equipment failures before they occur. Available as a standalone SaaS platform marketed alongside Cofrico's refrigeration and HVAC services, monitoring 100+ installations across 80 clients in Spain, France, and Chile.
• Energy Savings Certificate (Certificado de Ahorro Energético - CAE) Energy Efficiency Certificate issued under Spanish regulation, certifying energy savings from refrigeration system optimizations and generating additional income for customers through CAE trading, thereby improving return on investment on efficiency projects.
• Remote Management and Monitoring (Telegestión y Monitorización) Supervision, control, and remote monitoring systems for refrigeration installations, enabling real-time process variable visualization, alarm management, COP analysis, energy optimization for tariff-period-based cooling dispatch, and data-driven decision support with 24/7 remote coverage.

Quantifiable outcome

• 15-40% improvement in energy efficiency for monitored installations via Gradhoc AI platform
• +6 more outcomes

Named customers36 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

One partnership is on record.

• Gradhoc Smart S.L.coreStrategic or Co-development Partner · 1 January 2023Gradhoc was constituted in January 2023 as a Cofrico spin-off to commercialize the AI-based predictive maintenance and energy optimization platform. Cofrico retains a relationship and co-markets Gradhoc at events (EuroShop 2023, Hall 15 Stand A55). Gradhoc is presented as a distinct legal entity but shares founders with Cofrico (Jose Luís Fernández Pazos is founder of both). The Gradhoc platform manages ~100 installations for ~80 clients in Spain, France, and Chile.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Bitzer: German manufacturer of refrigeration compressors widely used in industrial and commercial systems. Bitzer is a key equipment supplier to Cofrico's installations and a potential competitor if it expands further into turnkey system delivery.
• Carel Industries: Italian manufacturer of control solutions for HVAC/R and refrigeration. Carel's controllers and IoT platform compete directly with the Gradhoc energy-optimization and predictive-maintenance software layer Cofrico sells alongside its installations.
• Frimain: Spanish industrial refrigeration and HVAC installation company serving food processing, distribution, and industrial customers. Frimain is a direct regional competitor to Cofrico in the Iberian market with overlapping verticals and service offerings.
• Kide: Spanish manufacturer and installer of industrial cold rooms, refrigeration panels, and turnkey cold-storage solutions. Kide is the most direct Spanish competitor to Cofrico's industrial refrigeration business, with comparable exposure to food, retail, and logistics customers.

Broad incumbents

• Johnson Controls: Global building technologies major with industrial refrigeration, HVAC, and building automation offerings. Johnson Controls' OpenBlue platform is a direct analog to Gradhoc's energy-optimization software for refrigeration and HVAC installations.
• Danfoss: Danish supplier of refrigeration components, controls, and increasingly digital service platforms. Danfoss is both a supplier and adjacent competitor to Cofrico in industrial refrigeration, with a broader product range and global service network.
• Daikin: Global HVAC and refrigeration manufacturer expanding aggressively into CO2/NH3 commercial systems and IoT-enabled service. Daikin's installed-base scale and R&D budget make it a long-term competitive threat to Cofrico's natural-refrigerant positioning.
• GEA Refrigeration: German-headquartered global manufacturer of industrial refrigeration compressors, systems, and service. GEA competes with Cofrico in large-scale industrial and ammonia/CO2 installations, particularly in food processing and cold storage.
• Trane Technologies: Global HVAC and cold-chain OEM with Thermo King transport refrigeration and Trane building HVAC. Trane's combination of equipment and digital services is a structural analog to Cofrico's industrial installation plus Gradhoc software model.
• Carrier Commercial Refrigeration: Global HVAC and commercial refrigeration OEM with deep supermarket and cold-chain presence. Carrier competes with Cofrico on supermarket refrigeration retrofits and is increasingly layering IoT/predictive services, mirroring Gradhoc's positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/grupocofrico

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Cofrico