The global refrigeration wholesaler Beijer Ref has signed an agreement to acquire all the shares in the Australian distribution company Airstream.
Airstream is an important manufacturer and distributor of ducting and associated fittings within air conditioning in Australia. The company was established in 2011 and consists of 14 employees. The majority of Airstream’s sales are made locally in Perth. Airstream has been operating as part of the iZone business, forming an integral part of their home solutions offering. Their annual sales amount to approximately SEK 40 million.
This acquisition strengthens Beijer Ref’s overall presence in Western Australia. Airstream will be integrated into Beijer Ref’s subsidiary, ACD Trade, and the acquisition will have a minor impact on the Beijer Ref Group’s result and position.
Christopher Norbye, CEO Beijer Ref, comments:
“Australia is an important market for Beijer Ref, and it is pleasing that we have found an opportunity to grow even further in this region. Airstream, which is a well-managed and fast-growing company with a good profitability, will add value to our group. They offer several new products, such as patented zoning and connection systems. This acquisition greatly enhances our position in the residential ducted market and, more broadly, into the commercial segment of our industry.”
Beijer Ref announces CFO leadership change
Beijer Ref and Maria Rydén, executive vice president (EVP) and CFO, have today mutually agreed that Maria will leave the company. As her successor, Beijer Ref has today appointed Ulf Berghult as new EVP & CFO. Ulf has extensive experience of finance and as Group CFO at publicly listed, large international companies. He comes most recently from the role as Group CFO for Perstorp Group and has prior to that had the same role at Trelleborg Group, Dometic Group and Thule Group.
Maria Rydén will continue to serve as CFO until further notice. Ulf Berghult will start in his new position latest in April of 2022.
