Beijer Ref to acquire Australian firm QAE
29th February 2024
SWEDEN/AUSTRALIA: Beijer Ref will expand its position in the Australian market with the agreement to acquire 60% of the shares in Sydney-based Quality Air Equipment (QAE).
The Swedish wholesaler has also agreed an option to acquire the remaining shares.
Founded in 2000, QAE is a manufacturer of air diffusion products and distributor of HVAC components and accessories, with an annual turnover of approximately €12.5m. It is also exclusive distributor of Trox products in Australia.
The company will continue to operate under its own brand and existing management will continue to develop the business together with Beijer Ref, a company statement says.
