Beijer Ref has signed an agreement to acquire 60 per cent of the shares in Quality Air Equipment (QAE), with an option to acquire the remaining shares.
QAE is a manufacturer and distributor of HVAC components and accessories. The company has an annual turnover of approximately $AUD20.7 million.
Founded in 2000, QAE is headquartered in Sydney and manufactures air diffusion products.
It is also the exclusive distributor of Trox products in Australia.
The company will continue to operate under its own brand and existing management will continue to develop the business together with Beijer Ref.
“The acquisition is in line with Beijer Ref's overall acquisition strategy and strengthens the company's position in the region while expanding Beijer Ref’s offering of components within the HVAC segment in Australia,” the company said in a statement.