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Nordic Climate continues Norwegian expansion

SWEDEN/NORWAY: Nordic Climate Group is expanding in Norway by acquiring Trondheim-based Reftec AS and its subsidiary Rana Kulde. 

Reftec specialises in energy-efficient cooling and heating solutions with natural refrigerants. Founded in 2007, Reftec has 14 employees and, together with Rana Kulde, generated a revenue of NOK78m (€6.8m) in 2023. 

Based in Mo I Rana in the Helgeland region of Nordland, just south of the Arctic Circle, Rana Kulde supplies and installs domestic and commercial heat pumps.

Reftec is acquired from its owners Erik Dyrseth, Per Bjørnaas, and Jonny Andersen, who each owned 81% of the company, and from employees who owned the remaining 19%. 

Nordic Climate Group, established in 2021, has a turnover of SEK4 billion (€350m) and employs around 1,550 people across over 80 local establishments in Denmark, Sweden, Norway, and Finland.

The acquisition of Reftec gives Nordic Climate a strong base in Norway’s third largest municipality. Additionally, Reftec is another company in the group that focuses on natural refrigerants. 

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