Reftrade - Squarefield

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Squarefield acted as exclusive financial advisor to the shareholders of Reftrade on the sale to Petit Forestier

Reftrade Holding B.V. (“Reftrade” or the “Company”), a market leading refrigerated container specialist in Western Europe, has agreed to sell 100% of the shares of the Company to the Petit Forestier Group (“Petit Forestier” or the “Group”).

Petit Forestier has a proven track record of international organic and acquisitive growth and operates in 20 countries in Europe, Africa, the Middle East and the United States with a strong network of branches. With the acquisition of Reftrade, Petit Forestier is pursuing its international growth policy and aims to reinforce its business lines around its specialisation as a refrigerated rental company. The acquisition of Reftrade expands the Petit Forestier Group’s rental offering to 2,900 refrigerated containers.

Reftrade is a leading refrigerated rental specialist, with a high-quality container fleet and an international customer base with clients in food, chemicals, logistics, automotive and pharmaceutical sectors. Both Reftrade and Petit Forestier share the same values, making Reftrade a natural partner for Petit Forestier and allowing for synergies and encouraging growth of the Group and of the new subsidiary.


Reftrade was founded in 1984 in the Netherlands, when it exclusively focused on the sale of refrigerated containers. During the last 20 years the company transformed into a rental company offering its own 24/7 emergency repair/maintenance service, excellent quality and customer care. Reftrade has experienced significant growth in refrigerated container and semi-permanent cold storage unit rental, both in the Netherlands, France and overseas.

“Squarefield has a highly dedicated and professional team, which for Refrade was an absolute must to complete such a process successfully!”

Laurens Louwers – CEO and shareholder Reftrade

Petit Forestier

Created in 1907, Petit Forestier – a family-run business – is a leader in the refrigeration sector. It relies on a large rental fleet – over 52,500 vehicles, 44,000 appliances and 2,900 refrigerated containers – and a significant network of branches in France and overseas, where it operates in 20 countries in Europe, Africa, the Middle East and the United States. Through this network, Petit Forestier serves over 15,000 customers, always striving to offer quality and an excellent service. In 2018 Petit Forestier generated sales of EUR 715m.

“Reftrade has gained valuable experience with major clients for over 30 years, including industry leaders in the port of Rotterdam, which makes it a new point of entry into the European market and a significant new starting point for Group development.”

Arnaud de Cespédes – CEO Petit Forestier