Beijer Ref has signed an agreement to acquire the assets of AMSCO Supply (“AMSCO”), a North American wholesale HVAC distributor. The company serves contractors in the Midwest and Southwest United States including Oklahoma, Kansas, Missouri and Texas – territories adjacent to Beijer Ref’s current holdings in the US. AMSCO has annual sales of approximately SEK 500 million.
Founded in 1974 and headquartered in Tulsa, Oklahoma, AMSCO Supply is a family-owned company with more than 45 years of experience. The AMSCO team comprises skilled professionals committed to providing solutions for different HVAC market segments, such as residential add-on replacements and commercial projects. The company has strong alignment with Beijer Ref’s key suppliers in the US region.
AMSCO will continue to operate under its own brand, in both distribution and marketing. The existing management will roll-over investment into Beijer Ref’s US platform and continue to run the business. The acquisition is expected to have a minor positive impact on the group’s result and position. AMSCO Supply employs approximately 50 people.
Christopher Norbye, CEO Beijer Ref, comments:
“We are pleased to welcome AMSCO Supply to the Beijer Ref Group. The acquisition is consistent with our overall strategy, driving increased commercial synergies and operational efficiencies within the US market. Furthermore, AMSCO Supply offers extensive expertise and knowledge and will be a valuable complement to our existing platform in the US as we continue to expand our geographical footprint and drive growth.”
