Beijer Ref continues to expand in Australia through the acquisition of Armcor

To further diversify its portfolio in Australia, Beijer Ref has entered into an agreement to acquire 100% of the climate and ventilation solutions company, Armcor. The acquisition allows Beijer Ref to expand its offer and provide a complete suite of HVAC equipment. It also provides the Beijer Ref organization with new competencies as well as access to a segment they have not previously been present in.

Armcor is specialized in energy efficient fresh air solutions and energy-recovery systems. The company consists of 37 employees and has a good profitability with annual sales of approximately SEK 105M. Their main facility is situated in Broadmeadows, Victoria, in Australia.

Armcor will be integrated into Beijer Refā€™s current organization and the acquisition will have a minor impact on the Beijer Ref Groupā€™s result and position.

Christopher Norbye, CEO Beijer Ref, comments:Ā ā€œAs new CEO for Beijer Ref I am very pleased with this acquisition. Armcor provides advanced and energy efficient solutions for fresh air indoors, which are key factors in terms of a safe and healthy environment. They have more than forty years of experience operating within this field, and we are delighted to welcome Armcor into our organization.ā€