Global refrigeration wholesaler Beijer Ref has signed an agreement to acquire all the shares in the Australian distribution company Airstream.
Airstream is a manufacturer and distributor of air conditioning ducting and associated fittings. The company was established in 2011 and consists of 14 employees. The majority of Airstream’s sales are made locally in Perth. Airstream has been operating as part of the iZone business, forming a part of the company’s home solutions offering. Annual sales amount to about AU$6 million.
Beijer Ref says the acquisition will strengthen its overall presence in Western Australia. Airstream will be integrated into Beijer Ref’s subsidiary, ACD Trade, and the acquisition will have a minor impact on the Beijer Ref Group’s result and position.
“Australia is an important market for Beijer Ref, and it is pleasing that we have found an opportunity to grow even further in this region,” says Beijer Ref CEO Christopher Norbye. “Airstream, which is a well-managed and fast-growing company with a good profitability, will add value to our group. They offer several new products, such as patented zoning and connection systems.
“This acquisition greatly enhances our position in the residential ducted market and, more broadly, into the commercial segment of our industry.”