GERMANY: The wholesaler Beijer Ref has acquired a majority stake in the German air conditioning retailer Coolair Klimasysteme.
Beijer Ref has acquired a 60% stake in the German business as part of its plan to increase its air conditioning market share, with the option to purchase the remaining shares.
Coolair was founded in 1995 and is headquartered in Nordhorn in northwest Germany near the Dutch border. The company sells a wide range of air conditioning products from leading brands such as Toshiba, LG and Mitsubishi Heavy Industries as well as the recently acquired Sinclair private label from Beijer Ref.Coolair recently signed an agreement with Daikin Applied to sell its chillers and heat pumps across Germany.
Coolair Klimasysteme employs over 25 people and has an annual turnover of around 10 million euros.
“Coolair has strong growth potential that will add value to our group and strengthen our investments in air conditioning in an important and large market like Germany,” said Per Bertland, CEO of Beijer Ref. “In line with our strategy, Coolair is adding another channel to sell our own Sinclair brand on the German market. “