SWEDEN/AUSTRALIA: Refrigeration wholesaler Beijer Ref has signed an agreement to receive all the shares in the Australian distribution organization Airstream.
Airstream is an significant company and distributor of ducting and involved fittings in Australia. The greater part of Airstream’s product sales are produced domestically to its headquarters in Bibra Lake, Perth. The business was set up in 2011 and has 14 employees. Annual gross sales are around SEK40m (US$4.7m).
Airstream has been functioning as section of the iZone enterprise, forming an integral element of their property remedies presenting. The iZone Wise Air Conditioning Method is a plug-and-play resolution to transforms any ducted air conditioner into a intelligent house, at a portion of the charge.
This acquisition strengthens Beijer Ref’s total existence in Western Australia and will be integrated into Beijer Ref’s subsidiary, ACD Trade.
“Australia is an essential marketplace for Beijer Ref, and it is pleasing that we have discovered an opportunity to develop even further more in this region,” explained Beijer Ref CEO Christopher Norbye. “Airstream, which is a effectively-managed and rapid-growing company with a very good profitability, will increase benefit to our team. They supply a number of new items, this sort of as patented zoning and link programs. This acquisition greatly boosts our position in the residential ducted market and, more broadly, into the industrial phase of our field.”