SWEDEN/CROATIA: Wholesaler Beijer Ref has acquired 80% of the shares in Croatian HVAC distributor Deltron, with an option to acquire the remaining shares.
Established in 1995, Deltron is headquartered in Split, has 110 employees and an annual turnover of approximately SEK400m (€39m). It also has a branch in Zagreb and a company in Sarajevo, Bosnia and Herzegovina.
Deltron’s main business is in residential and commercial air conditioning equipment, supplying a range of brands including Mitsubishi Electric, Gree and Climaveneta.
While Beijer Ref already has a minor presence in Croatia, a presence in Bosnia and Herzegovina is a new market for the group.
Deltron will operate under its own brand and the founders will continue to lead the company.
“Through this acquisition, Beijer Ref adds a well-managed company with a good profitability that gives us a market-leading position within HVAC in Croatia. In Bosnia and Herzegovina, where we have not previously been established, we have also identified great growth potentials,” said Beijer Ref CEO Christopher Norbye.