SWEDEN/AUSTRALIA: Wholesaler Beijer Ref has entered into an agreement to acquire 100% of Armcor Air Solutions, a Victoria-based manufacturer and supplier of HVAC equipment.
Established in 1978, Armcor is specialised in energy efficient fresh air solutions and energy-recovery systems. The company has 37 employees and has a good profitability with annual sales of approximately SEK105m (US$12.2m). The company’s main facility is based in Broadmeadows, Victoria.
Beijer Ref says the acquisition will expand its offer and provide a complete suite of HVAC equipment. It also provides the Beijer Ref organisation with new competencies as well as access to a segment they have not previously been present in.
Armcor Air Solutions will continue to operate under its current structure and under the direction of Kirby sales and marketing manager Brett Hedge.