Market news, 23 July 2024
The global refrigeration wholesaler Beijer Ref AB has signed an agreement to acquire all shares in the Australian HVAC company ACD Trade.
ACD Trade is a leading HVAC distribution company in Australia with around 60 employees. The company supplies the market with well-known brands and has a wide range of products, which includes both HVAC units and components. Sales are made through a distribution network of nine branches. Annual sales amount to approximately SEK 540 million. Beijer Ref acquires ACD Holding Company Pty Ltd. from Cliplight US Holdings, Inc.
The Group is already present in Australia through Beijer Ref Australia and Kirby HVAC&R. The acquisition strengthens the Group’s presence in the Asia Pacific region and especially in Australia. Total sales in APAC is estimated to reach 3 billion SEK after the acquisition corresponding to 20 percent out of Beijer Ref´s total sale.
Per Bertland, CEO Beijer Ref, comments:
“Australia is an important market for us, and it is pleasing that we found an opportunity to grow further. ACD Trade is a well-managed and fast-growing company that will add value to our group in the form of an expanded customer base and a broader product range within HVAC.“
The parties have signed a binding agreement today and completion is scheduled for 31 January, 2020. ACD Trade will continue in its existing form and will be included in the company’s accounts from 1 February, 2020. The acquisition is not expected to affect the Group’s earnings or financial position significantly but is estimated to produce long-term positive effects on both sales and earnings.
