Lowe Corporation acquires Abbey Design Associates Ltd & Spherica Systems Ltd, further strengthening its considerable retail refrigeration expertise and adding a disruptive IoT technology layer to a growing portfolio of clients & valued services.
Lowe Corporation (“Lowe”) today announced that it has completed the acquisition of Abbey Design Associates Ltd (“ADA”) & Spherica Systems Ltd (“Spherica”). The acquisition of ADA adds a substantial level of commercial refrigeration design and consultancy expertise to the group. Spherica, a recognised innovator in the IoT remote monitoring space, will join Lowe’s global LoweConex brand, bringing a ground-breaking and disruptive unified data platform to the international marketplace.
Abbey Design Associates Ltd
ADA was formed in 2006 as an independent refrigeration design & project management consultancy. A complete end-to-end consultation and solutions provider, ADA has been developing tailored refrigeration support services for Europe’s leading food retailers for over 15 years.
Lowe is widely known as an innovator within the markets they service, developing rental models, bespoke product innovations and new concepts that challenge the market norms. The addition of ADA is a key step in bringing a wealth of commercial refrigeration design to their ever-growing portfolio.
Spherica Systems Ltd
Spherica, formed in 2017, is a UK based software and hardware development house who have created a revolutionary patented unified data platform. This technology has completely changed how a wide range of data rich industries - such as retail - harvest, view, interpret and act upon the data their connected assets produce via automated two-way communication functionality.
Responding to the demand from businesses that are becoming increasingly aware of the value around ‘big data’, the utilisation of Spherica’s next generation IoT technology positions the recently launched LoweConex brand as the single most disruptive offering in enterprise asset analytics.
Bringing Emerging Technology and New Innovations to the Fore.
Rodney Lowry, CEO of Lowe said: “We are delighted to welcome ADA & Spherica into our high-performing group of brands. With innovation and a customer-focused approach at our core, these two expectational businesses are a perfect fit.
There are excellent synergies between the companies, and this can be seen in aligned cultures around customer service and our reputation as trusted innovators. Together we can take a great step forward, providing market leading end-to-end asset management control through IoT technology platforms, a first for the food grocery market.
The teams from Lowe, ADA & Spherica complement each other extremely well and I am delighted to have all formalities of the deal completed, clearing the way for our teams to start the business of building a collective powerhouse in food retail & associated markets. In particular, the unified data platform and IoT backed AI from LoweConex is one of the most exciting developments I have been involved in. The technology and the teams behind it have the potential to transform the market as we know it.”
Commenting on the deal, Garry Turner, founder of ADA & Spherica, “The acquisition of our businesses by Lowe is a very exciting and welcome milestone for all here at ADA & Spherica. Having the backing of such a large, globally respected company unlocks new and significant growth potential in markets and geographies that historically would have been out of reach. The Lowe team also brings a wealth of commercial experience to our offering, helping to deliver strong consistent growth long into the future.”
About Lowe Corporation
Founded in 1977, with its headquarters in Lisburn, Northern Ireland, Lowe provides worldwide rental options on refrigeration and catering equipment & temporary kitchens to retailers, food distribution companies, large-scale F&B exhibitions, and events. It has a truly international network of offices, teams and distribution hubs across USA, Europe, Middle East and Asia which have enabled it to serve on the ground 40 countries and sell into over 140 countries in 2020.