Beijer Ref acquires leading HVAC distributor in Bulgaria
Beijer Ref (publ) ("Beijer Ref") has signed an agreement to acquire 70 percent of the shares in Condex, with an option to acquire the remaining shares. Condex is a leading Bulgarian HVAC distributor headquartered in Sofia and has an annual turnover of approximately SEK 350 million with good profitability. Founded in 1993, Condex is a well-established HVAC distributor and has a broad customer base and a solid product offering. In recent years, the company has experienced very good profitable sales growth. The company, which is family owned, employs 41 people. The parties have signed a