Beijer Ref buys stake in Indian distributor2nd January 2024
SWEDEN/INDIA: Beijer Ref has acquired a 70% stake in Chillaire Solutions, an Indian importer and distributor of refrigerant.
Beijer Ref has an option to acquire the remaining shares in the company, which is based in Gurgaon, Haryana, south of Delhi.
According to Beijer Ref, Chillaire Solutions is also involved in the distribution of other HVAC-related products.
Founded in 2018, Chillaire Solutions is reported to have annual sales of approximately SEK120m ($11.9m) and employs 20 people.
The company’s existing management team will continue to run and develop the company together with Beijer Ref.