AUSTRALIA: Refrigeration wholesaler Beijer Ref has signed an agreement to acquire Australian air conditioning distribution company Complete Air Supply (CAS).
CAS is a manufacturer and distributor of ducting and associated fittings and is an existing supplier to Beijer Ref in Australia. It operates through three branches in Queensland and has around 40 employees. Annual sales are approximately SEK130m (US$16m).
Beijer Ref is already present in Australia through Beijer Ref Australia, Kirby and ACD Trade. The acquisition strengthens the group’s overall presence in APAC-region, with sales amounting to about SEK3bn (US$360m).
“Australia is an important market for us, and it is pleasing that we found an opportunity to grow further,” commented Beijer Ref CEO Per Bertland.
“This acquisition greatly enhances our position in the residential ducted market and, more broadly into the commercial segment of our industry, CAS’s products, experience and expertise will complement our air conditioning product offering as well as adding to our existing customer base.”
The parties have signed a binding agreement today and completion is scheduled for 1 February 2021. CAS will continue in its existing form.