Kaeron is a Hainaut-based holding company led by entrepreneur Frédéric Schilling, created through WAD Capital's search fund model to consolidate and grow companies in the HVAC sector. Following a 12-month search supported by WAD Capital and Wallonie Entreprendre, Kaeron acquired Groupe Jordan in 2025 as its platform investment, marking the beginning of an ambitious build-up strategy to create a Benelux leader in heating, ventilation, and air conditioning services.
"Groupe Jordan is the ideal foundation for our vision to build the Benelux's premier HVAC services platform. We're building more than a consolidation play, we're creating an integrated group that combines operational excellence, invests in skilled technicians, and delivers comprehensive climate solutions to commercial and residential clients across the region."
— Frédéric Schilling, Founder & CEO, Kaeron
About Groupe Jordan
Groupe Jordan is a Belgian company specialising in the installation, sale and maintenance of heating, air‑conditioning and stove systems.
Founded on more than a century of experience, the company serves both public‑sector and private clients, offering tailored solutions and annual maintenance contracts.
It operates with certified technicians (e.g., AGR‑Gaz) and focuses on modern, efficient equipment (such as condensing boilers) while emphasising compliance with European norms and clear, detailed proposals.
Value Creation
Kaeron aims to build a leading Benelux HVAC services group by expanding its market reach, strengthening recurring revenues, and modernising operations through selective digitalisation. The strategy focuses on integrating acquired companies, enhancing service quality, and developing sustainable, future-ready capabilities, while empowering strong local teams within a unified platform.
October 2025
Wallonie Entreprendre Opens Up to Search Funds, a New Model for SME Succession
L’Echo
Kaeron, led by Frédéric Schilling, has acquired Groupe Jordan with financing from WAD Capital and Wallonie Entreprendre, who now hold the majority stake. The acquisition was completed through a search fund structure, a model that is still emerging in Belgium. WAD Capital supported Schilling by financing his search period, which enabled him to identify and acquire Groupe Jordan, while Wallonie Entreprendre provided additional backing for the company’s development.