SWEDEN: Refrigeration wholesaling group Beijer Ref has acquired a significant majority shareholding in Czech air conditioning and heat pump manufacturer Sinclair.
Beijer Ref has increased its stake in the HVAC market with the acquisition of 85% of the shares in Sinclair Global Group with the option to acquire the remaining shares.
Sinclair is headquartered in Brno, Czech Republic with sales offices in Slovakia, Hungary and Croatia. Sinclair sells domestic and commercial air conditioning and heat pumps to 25 countries. Most of the sales consist of Sinclair’s own brand HVAC products.
Sinclair’s annual sales amount to SEK400m (€40m) and has just over 110 employees. The company and its brand are mainly represented in Eastern Europe, but have established niche footholds in Western Europe over the last 20 years.
Beijer Ref says that the Sinclair products will continue to be distributed and marketed under its own brand with existing sales channels but will also be launched in several of Beijer Ref’s other markets.
In the UK, Sinclair split systems have been available through Thermofrost Cryo since 2014. Prior to that, the products were briefly available through Pendle Refrigeration and, before that, from Hertfordshire-based contractor Airconforall.
Commenting on the acquisition, Beijer Ref CEO Per Bertland said: “Own brands are an important focus area for Beijer Ref and Sinclair’s products will be a strong complement to our existing range. Sinclair is a company with strong growth potential that adds value to our group and that strengthens our investment in our own brands. It is gratifying that we have been able to complete this acquisition during the current pandemic and we look forward to continuing to develop the company and the brand in several markets in the future.”