Koxka, a leading company from Navarre specializing in commercial refrigeration solutions with nearly 60 years of experience, is entering a new phase of growth following the entry of Sherpa Capital, a leading private equity firm in Iberia, which has acquired a majority stake in the company. The Razquin Guindulain family, the current management team, will continue to lead the project with the same industrial, technical, and family-oriented spirit that has characterized Koxka since its inception.
This transaction represents a decisive strategic boost that will enable Koxka to strengthen its financial position, drive international expansion, increase production capacity, create new jobs, and promote the development of new technologies and product lines aligned with international market demands and sustainability goals.
Ignacio Razquin, Chairman of Koxka, stated: “This agreement allows us to look to the future with more ambition than ever. We will remain Koxka, with the same essence, but with greater strength to innovate, grow, and support our customers in their transition toward more efficient and sustainable refrigeration.”
Sustainable growth and innovation at the service of customers
Founded in 1966, Koxka designs, manufactures, and maintains commercial refrigeration solutions with a comprehensive “turnkey” approach. Its commitment to energy efficiency, modern design, and product durability has consolidated its position as one of the most respected brands in the industry.
From its 32,000 m² production facility in Pamplona, Koxka coordinates a strong international network with six branches in Spain, Mexico, and the United States, as well as its own sales teams in France and the United Kingdom. Currently, 53% of its sales come from international markets, with a particularly strong presence in France, the United Kingdom, Mexico, and the Middle East, and with growing projects in Latin America and the United States, where the company continues to reinforce its commercial structure.
The entry of Sherpa Capital will provide financial strength and strategic vision to accelerate international growth plans, expand the range of remote and plug-in products, and strengthen Koxka’s positioning as a global leader in sustainable refrigeration.
José María de Retana, Investment Director at Sherpa Capital, noted: “Koxka represents exactly the type of company we aim to invest in: solid, with a strong industrial legacy, technological leadership, and enormous global expansion potential. Our goal is to support the team in this new phase, contributing resources, expertise, and vision to make Koxka an international benchmark in energy efficiency and sustainability.”
Navarrese industry with a global vision
With more than 250 employees and a commercial network present across six national offices and international locations in Mexico, France, the United Kingdom, and the United States, Koxka combines global ambition with the strength of its Navarrese industrial roots.
This new chapter will allow the company to expand its workforce, improve processes, and accelerate industrial digitalization, strengthening its commitment to technical talent and sustainability. The partnership marks the beginning of a new era for the brand, positioning it as a symbol of reindustrialization, technology, and a sustainable future from Navarre to the world.
Through this transaction, Sherpa Capital reinforces its presence in the industrial sector by investing in companies with high growth potential, technological leadership, and a sustainable focus, while Koxka embarks on a new phase of national and international expansion, backed by a long-term financial partner. Sherpa Capital was advised in this transaction by Evergreen and PwC.
About Koxka
Koxka is a leading Navarrese company specializing in commercial refrigeration solutions, with nearly 60 years of experience in designing, manufacturing, and maintaining efficient, sustainable, and durable equipment. From its 32,000 m² facility in Pamplona, it manages an international network with operations in Spain, Mexico, the United States, France, and the United Kingdom.
Committed to innovation, energy efficiency, and customer service, Koxka offers comprehensive “turnkey” solutions that include refrigerated display cases and cabinets, as well as complete remote and plug-in refrigeration systems. Currently, more than 50% of its sales come from international markets, consolidating its position as a global reference in sustainable refrigeration.
About Sherpa Capital
Sherpa Capital is the leading private equity firm in Iberia, specializing in investments in mid-sized companies facing strategic, growth, or operational challenges and possessing high value-generation potential through business improvement processes.
The firm operates with a unique, sustainable, and differentiated management and value creation model. With more than 15 years of experience in the sector, Sherpa Capital manages over €350 million in assets and comprises more than 35 highly recognized professionals who work closely with all portfolio companies.
cloud technology axon
Xcalibur Smart Mapping, recognised as the global leader in airborne...
