Beijer Ref acquires Indian distributor
SWEDEN/INDIA: Beijer Ref expands its geographical presence in India with the acquisition of Indian refrigeration component and spare parts distributor Shravan Engineering.
Swedish wholesaler Beijer Ref has signed a binding agreement to acquire 100% of the assets of the Chennai-based business. Originally incorporated in 1988, Shravan records an annual turnover of SEK53m (€4.7m).
In connection with this acquisition, Beijer Ref is starting a new company in India where the sellers will reinvest 26% of the purchase price.
This acquisition is said to complement Beijer Ref’s geographical presence in India and provides a varied product portfolio that can be further expanded by Beijer Ref’s existing product range. Shravan Engineering’s product portfolio currently includes Chemours refrigerants, along with Danfoss, Emerson, Frescold, Roller and Totaline brands.