Beijer Ref acquires Coolair in Germany

Air conditioning is a prioritized growth area and Beijer Ref continues to increase its market share within the air conditioning (HVAC) sector. The growth strategy is further assisted through the acquisition of 60% of the shares in coolair Klimasysteme GmbH (Coolair) with the option to acquire the remaining shares.

Coolair is headquartered in Nordhorn, Germany and sells air conditioning products from leading brands such as Toshiba, LG and Beijer Ref’s private label brand, Sinclair.

Coolair’s annual sales amount to SEK 100 million with good profitability and over 25 employees. Both parties have signed a binding agreement with the takeover taking place at the same time. The company will be included in the accounts from today. Coolair will be part of the Beijer Ref region Central Europe and will be an addition to Beijer Ref’s existing operations in Germany.

Per Bertland, CEO Beijer Ref, comments:

“Coolair has strong growth potential that will add value to our group and strengthen our investment in air conditioning in an important and large market such as Germany. In line with our strategy, Coolair adds another channel to sell our own Sinclair brand on the German market. It is gratifying that we have been able to complete this acquisition during the current pandemic and we look forward to continuing to develop the company going forward” concludes Per Bertland.

Malmö, 26 February 2021

Beijer Ref AB (publ)

For more information, please contact:

Per Bertland, CEO

Telephone +46 40-35 89 00

Email pbd@beijerref.com

Maria Rydén, CFO

Telephone +46 40-35 89 00

Email mrn@beijerref.com

BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 37 countries in Europe, Africa, Asia and Oceania.

www.beijerref.com