Beijer Ref buys South Korean manufacturer
27th July 2023
SWEDEN/SOUTH KOREA: Refrigeration and air conditioning wholesaler Beijer Ref has entered the South Korean market through the acquisition of the HVACR division of DS Maref.
Established in 1986, and originally known as Daesung General Machinery, DS Maref is headquartered in Seoul. It distributes refrigeration compressors and components and has been manufacturing its own coolers and condensers since 2011. The company has annual sales of approximately SEK375m (€32.6m).
The company claims to be keen on using “natural refrigerants”, and produces refrigeration racks and heat pumps with customised controls for supermarkets and industrial and commercial commercial sectors.
DS Maref operates through over 20 local dealer channels supplying Bitzer and Copeland compressors as well as representing other manufacturers including Guntner. It currently has 82 employees.
The company also operates a medical equipment supply business which is not included in the deal.
