The Reefer Group

Design, manufacture and marketing of customized refrigerated trucks and semi-trailers
Alzira (Valencia)
Type of transaction
Management Buy-Out (MBO)
International expansion
Investment year
2015 Sor Ibérica
2016 Chereau

Innovation and safety in refrigerated trucks and trailers

TRG is the result of the consolidation project of Sor Ibérica (Valencia, Spain, 1970) and Chereau (Ducey, France, 1950), companies in which Miura invested in 2015 and 2016 respectively. Both companies are the Spanish and French leaders in the design, production and commercialization of custom-made refrigerated semi-trailers and trucks, benefiting from an undisputable position in France and Spain, and a well-established position in the European Union.

Miura Partners exited TRG in 2021 to a consortium led by Amundi, after five years of partnership in which the company successfully deployed a plan of reinforcement and professionalization of the management team, doubled the production capacity at Sor Ibérica and implemented successful projects based on efficiency and productivity. Over the last years under Miura’s ownership, TRG reached exports outside France and Spain of 30%, a consolidated market share in Europe of 20%, over 20% sales growth up to €270 million, and invested €30 million to increase 40% its production capacity, creating 15% additional jobs in the company.

In addition, the group is a benchmark on innovation, ESG and sustainability. In 2019 Chereau launched the project ROAD, a worldwide innovation breakthrough based on hydrogen technology, bringing to the market the first zero-emission hydrogen semi-trailer. Thanks to this technology, TRG found a clean energy solution with a very significant reduction in gas emissions and positioned itself at the front end in terms of energy savings and energy transition.