Beijer Ref to acquire Australian wholesaler ACD Trade
AUSTRALIA: Refrigeration wholesaler Beijer Ref has signed an agreement to acquire all shares in the Australian HVAC distribution company ACD Trade.
ACD Trade has nine branches in Australia and around 60 employees. The company supplies the market with well-known brands and has a wide range of products, which includes both HVAC units and components.
The company is particularly strong in air conditioning, supplying a wide range of manufacturers’ units from RACs, wall splits, ducted through to VRF projects.
ACD Trade’s annual sales amount to approximately SEK540 million (US$56m).
Beijer Ref is already present in Australia through Beijer Ref Australia and Kirby HVAC&R. The acquisition strengthens the group’s presence in the Asia Pacific region and especially in Australia. Total sales in APAC is estimated to reach SEK3bn ($312m) after the acquisition, corresponding to 20% of Beijer Ref´s total sales.
“Australia is an important market for us, and it is pleasing that we found an opportunity to grow further,” said Beijer Ref CEO Per Bertland. “ACD Trade is a well-managed and fast-growing company that will add value to our group in the form of an expanded customer base and a broader product range within HVAC.“
The deal is expected to be completed by January 31.