Qatar District Cooling Company (Qatar Cool) has acquired Cool Tech Qatar as well as Installation Integrity 2006 (I2I) as part of its strategy to maintain its leadership in providing district cooling and related services in local and regional markets.
Qatar Cool acquired the remaining 49% stake from an Emirati shareholder to make it a wholly-owned subsidiary and the share purchase is a further demonstration of its continued expansion and the development of sustainable energy practices in Qatar, its spokesman said. However, he did not disclose the details regarding the quantum of money involved in the deal.
“Having both these companies as wholly owned subsidiaries of Qatar Cool, represents an extremely important milestone for the development and growth of Qatar Cool and district cooling in Qatar. We believe this acquisition will be a win-win situation for all parties,” Bader al-Meer, chairman of Qatar Cool, said.
Qatar Cool currently provides district cooling services for several prominent developments in Qatar, including The Pearl-Qatar and West Bay residential and business district.
I2I is a commissioning specialist for plants, buildings, and installations and it does commissioning of all non-process mechanical, electrical and plumbing installations, and specialists in air and water balancing on HVAC (heating, ventilation, and air conditioning) systems.
Cool Tech is a water treatment specialist and has served numerous district cooling plants in Qatar as well as chilled water users’ buildings.