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. For nearly 20 years the company has supplied a wide range of well known brands, products, HVAC units, appliances and components to industry.
Sales are made through a distribution network of nine branches.
Annual sales amount to approximately SEK 540 million ($A83.15 million).
Beijer Ref will acquire ACD Holding Company Pty Ltd. from Cliplight US Holdings, Inc and officially close the deal by January 31, 2020.
The Beijer Ref Group already has a local presence through Beijer Ref Australia and Kirby HVAC&R but this acquisition will further strengthen the wholesaler's network in the Asia Pacific.
Total sales in APAC is estimated to reach $461 million after the acquisition corresponding to 20 per cent of Beijer Ref´s total sales.
In a statement, Beijer Ref CEO, Per Bertland said: “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.“
ACD Trade will continue to operate in its existing form and will be included in the company’s accounts from February 1, 2020.