World refrigeration wholesaler Beijer Ref has signed an agreement to receive all the shares in the Australian distribution business Airstream.
Airstream is a company and distributor of air conditioning ducting and affiliated fittings. The business was set up in 2011 and consists of 14 employees. The majority of Airstream’s gross sales are made regionally in Perth. Airstream has been functioning as section of the iZone enterprise, forming a section of the company’s property answers giving. Once-a-year income amount to about AU$6 million.
Beijer Ref says the acquisition will strengthen its over-all existence in Western Australia. Airstream will be built-in into Beijer Ref’s subsidiary, ACD Trade, and the acquisition will have a minor affect on the Beijer Ref Group’s outcome and position.
“Australia is an essential market for Beijer Ref, and it is pleasing that we have discovered an prospect to improve even further more in this region,” says Beijer Ref CEO Christopher Norbye. “Airstream, which is a very well-managed and quickly-expanding corporation with a good profitability, will insert value to our group. They present quite a few new products, these as patented zoning and link techniques.
“This acquisition tremendously enhances our posture in the residential ducted marketplace and, much more broadly, into the professional phase of our sector.”