ZAGREB (Croatia), January 11 (SeeNews) – Sweden-based global refrigeration equipment wholesaler Beijer Ref said on Tuesday it has acquired 80% of Croatian distributor of heating, ventilation, and air conditioning (HVAC) systems Deltron, with an option to acquire the remaining shares.
“Through this acquisition, Beijer Ref adds a well-managed company with a good profitability that gives us a market-leading position within HVAC in Croatia,” Christopher Norbye, CEO of Beijer Ref, said in a statement.
The value of the transaction was not disclosed.
Split-based Deltron, set up in 1995, has an annual turnover of some 400 million Swedish crowns ($44 million /48.8 million euro), according to the statement.
In 2014, Deltron established a subsidiary in Bosnian capital Sarajevo that in recent years experienced strong and profitable sales growth, Malmö-headquartered Beijer Ref said.
Deltron has 110 employees and the acquisition is expected to have a minor positive impact on the group’s results and position. The company will be included in Beijer Ref’s accounts from 1 January 2022.
(1 euro = 10.301 Swedish crowns)
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