Refrigeration wholesaler Beijer Ref has signed an agreement to acquire all the shares in Australian distribution company Airstream.
Airstream is an important manufacturer and distributor of ducting and associated fittings within Australia’s air conditioning industry.
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 ($A6.2million).
In a statement, Beijer Ref said the acquisition strengthens its 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,” the statement said.
Beijer Ref CEO, Christopher Norbye, said Australia is an important market for the wholesaler.
“It is pleasing that we have found an opportunity to grow even further in this region,” Norbye said.
“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.”