Global refrigeration wholesaler Beijer Ref AB has signed an agreement to acquire all shares in the Australian HVAC company ACD Trade.
ACD Trade is a leading HVAC distribution company in Australia with around 60 employees. The company supplies the market with well-known brands and has a wide range of products, which includes both HVAC units and components. Sales are made through a distribution network of nine branches. Annual sales amount to approximately $Au80 million. Beijer Ref acquires ACD Holding Company Pty Ltd. from Cliplight US Holdings, Inc.
The Group is already present in Australia through Beijer Ref Australia and Kirby HVAC&R – formerly Heatcraft, which Beijer Ref acquired in 2018. The acquisition of ACD Trade further strengthens the group’s presence in the Asia Pacific region and especially in Australia. Total sales in APAC is estimated to top $Au460 million after the acquisition, corresponding to 20 per cent of Beijer Ref´s total sales.
“Australia is an important market for us, and it is pleasing that we found an opportunity to grow further,” says Beijer Ref CEO Per Bertland.
“ACD Trade is a well-managed and fast-growing company that will add value to our group in the form of an expanded customer base and a broader product range within HVAC.”
Completion of the agreement is scheduled for January 31, 2020. ACD Trade will continue in its existing form and will be included in the company’s accounts from February 1, 2020. Beijer Ref says the acquisition is not expected to affect the group’s earnings or financial position significantly, but is estimated to produce long-term positive effects on both sales and earnings.