G&L Beijer to buy Eurocool
SOUTH AFRICA: G & L Beijer AB is acquiring all the shares in South African refrigeration wholesaler Eurocool (Pty) Ltd.
Founded in 1999, Eurocool has outlets in Randburg, Durban and Cape Town. It is the largest distributor of Bock compressors in South Africa. The company also distributes well-established control instrument brands like Castel and Danfoss, which complement G & L Beijer’s existing product range. The company reports sales of approximately SEK65m and has 36 employees.
“Eurocool enjoys a very good reputation and will be a significant addition to our operation in South Africa,” said Per Bertland, ceo of G & L Beijer. “Africa is one of our priority growth markets and our investment in key countries has rapidly given us the experience that will enable us to develop our activities further in order to futher generate strong and stable profitability. Our ambition is to increase our customer base with a supplementary range of important products within the refrigeration sector.”
G & L Beijer’s sales in Africa amount to approximately SEK600m before the acquisition and have had substantial organic growth as well as through acquisitions. G & L Beijer’s acquisition of Eurocool is estimated to provide cost synergies and increased efficiency through co-ordination with the company’s existing operation in southern Africa, as well as additional purchase volumes. Eurocool’s executive management will continue to play an active role in the company.
Beijer bought Carrier-owned South African refrigeration wholesaler ECR South Africa (Metraclark) in 2009.
