Beijer seeks further acquisitions

SWEDEN: Beijer Ref, Europe’s largest refrigeration and air conditioning wholesaling operation, is looking for further acquisitions this year after a comparatively quiet 2013.

In the group’s 2013 annual report, managing director and CEO Per Bertland reveals that the group is still on the lookout for potential acquisitions despite completing only one acquisition in the last financial year – that of South African wholesaler Eurocool in January.

“Acquisition is an important part of our growth strategy. We have a history of successful company transactions and the discussion about potential acquisition candidates is continually alive in the company,” he writes.

“I had hoped for more transactions during 2013 than was the outcome and my ambition for 2014 is to continue to make acquisitions. With a strong balance sheet and good preparedness to take charge of new companies, we have the freedom to act when the right opportunity occurs.”

The accounts showed a 2.4% fall in turnover from SEK6758.3m (€746m) in 2012 to SEK6595.3m (€728m) in the latest financial year.

Bertland, who was appointed to the role in July last year, also revealed that Beijer has grown organically by around 5% per year over the last 10 years, which is approximately 3% higher than the average growth in the Euro area.

Increased sales, changing name – 23rd April 2014