GERMANY: Wholesaler Beijer Ref has acquired a majority shareholding in the German air conditioning distributor Coolair Klimasysteme.
Part of its plan to increase its market share within the air conditioning sector, Beijer Ref has acquired 60% of the shares in the German business with the option to acquire the remaining shares.
Established in 1995, Coolair is headquartered in Nordhorn, in the north west of Germany near the Dutch border. It sells a wide range of air conditioning products from leading brands such as Toshiba, LG and Mitsubishi Heavy Industries, as well as Beijer Ref’s recently acquired private label brand, Sinclair. Coolair also recently signed an agreement with Daikin Applied for sales of its chillers and heat pumps throughout Germany.
Coolair Klimasysteme has over 25 employees and records annual sales of around €10m.
“Coolair has strong growth potential that will add value to our group and strengthen our investment in air conditioning in an important and large market such as Germany,” said Beijer Ref CEO Per Bertland. “In line with our strategy, Coolair adds another channel to sell our own Sinclair brand on the German market.”