A Birmingham-based air conditioning system supplier has been acquired by a listed Swedish group in a deal supported by prominent advisers.
Pannone Corporate acted as legal adviser to Beijer Ref AB – which specialises in the wholesale of refrigeration and air conditioning products – on its purchase of Easyairconditioning.com.
Beijer Ref is aiming to expand its international footprint and strengthen its UK presence.
The Pannone team was led by Tom Hall and included Arshnoor Amershi and Bez Borang.
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Hall said: “This is a fantastic acquisition for Beijer Ref, and cements its commitment to the UK market, as the company looks to grow its presence through a proven and highly successful network of 70-plus subsidiaries across Europe, Asia, Pacific and Africa. Easyairconditioning.com is a perfect fit for the business and complements its existing network in the UK.
“This cross-border transaction is yet another demonstration of the increasing appetite of large international businesses that have a strategic focus on the UK, using buy and build as an effective way to enter or expand into an overseas market.
“This has been a popular theme throughout 2022, with Pannone supporting large international clients on a number of significant cross border acquisitions this year, including acting for global cloud platform Esker on its acquisition of a controlling stake in Market Dojo, advising Dutch flower distributor van Duyvenvoorde on a significant UK acquisition and advising Argenbright on its strategic investment in Amberstone Security.”
Easyairconditioning.com was established in 2001 and provides a range of AC and heat recovery system solutions to business and domestic markets.
Christopher Norbye, chief executive of Beijer Ref, said: “With over two decades of experience, Easy Air Conditioning has accumulated a well-established customer base. They have a dedicated and committed team and we are pleased to welcome Easy Air Conditioning to the Beijer Ref group.”
Shakespeare Martineau (Michael Stace and Matthew Shephard) advised Easyairconditioning.com on the transaction.
