GIMV NV is buying a majority stake in Coolworld Rentals, formally known as Coolworld International BV, for an undisclosed sum.

The European private equity firm made the investment alongside Coolworld's management, the founding Buijzen family and current CEO Jack Buijnsters.

Coolworld is a cooling and heating equipment rental company based in the Netherlands. It will use Gimv's investment to expand its activities in its home markets, increase its product portfolio, boost its operating efficiency and execute a buy-and-build strategy in new and existing markets.

Ruud van Mierlo, the director of sales and marketing at Coolworld, will become CEO after the transaction, which is subject to customary closing conditions and approval by the competition authorities. Buijnsters will still be involved in the company's business development and will remain on its supervisory board.