Swedish Beijer Ref acquires 80% of Croatia’s HVAC distributor Deltron
ZAGREB (Croatia), January 11 (SeeNews) – Sweden-based global refrigeration equipment wholesaler Beijer Ref said on Tuesday that they have acquired 80% of the Croatian distributor of heating, ventilation and air conditioning systems (HVAC) Deltron, with an option to acquire the remaining shares .
“Through this acquisition, Beijer Ref adds a well-run company with good profitability that gives us a market-leading position in plumbing in Croatia,” says Christopher Norbye, CEO of Beijer Ref, in a statement.
The value of the transaction was not disclosed.
Split-based Deltron, which was founded in 1995, has an annual turnover of approximately SEK 400 million (USD 44 million / EUR 48.8 million), according to the statement.
In 2014, Deltron established a subsidiary in the Bosnian capital Sarajevo, which in recent years has experienced strong and profitable sales growth, says Beijer Ref in Malmö.
Deltron has 110 employees and the acquisition is expected to have a less positive impact on the Group’s earnings and position. The company will be included in Beijer Ref’s report from 1 January 2022.
(1 euro = 10,301 Swedish kronor)
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