Beijer Ref completes Cool4U acquisition
3rd January 2025
SWEDEN/HUNGARY: Beijer Ref has acquired the remaining shares in Cool4U, the Hungarian HVAC distributor and representative of Chinese manufacturer Gree.
In June 2024, Beijer Ref signed a binding agreement to acquire 80% of the shares in Cool4U, with an option to acquire the remaining share. The full acquisition follows approval from the Hungarian Competition Authority.
The acquisition comprised the residential business Cool4U Home and Cool4U Systems, its commercial projects company. The company’s automotive vehicle air conditioning business was not included in the deal.
Beijer Ref says that Cool4U will continue to operate under its own brand, with the business included in the Beijer Ref’s group accounts as of January 3, 2025.
Founded in 2001, Cool4U boasts an annual turnover of approximately €45m.
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Beijer Ref to buy Gree’s Hungarian distributor – 19 June 2024
SWEDEN/HUNGARY: Beijer Ref has signed an agreement to acquire 80% of the shares in Cool4U, a leading HVAC distributor and Hungarian representative of Chinese manufacturer Gree. Read more…
