Swedish wholesaler Beijer Ref has moved into the North American market with the acquisition of Heritage Distribution Holdings in a $US1.27 billion deal.
Heritage Distribution is a leading HVACR distributor in the United States with 64 branches in 10 states. Headquartered in Atlanta, Georgia, Heritage Distribution has approximately 800 employees.
The company’s turnover for the twelve months to the end of 30 September was $636 million.
The Heritage Distribution group also includes Tennessee-based Coastal Supply Company and NuComfort of Chicago, Illinois.
Beijer Ref CEO, Christopher Norbye, said the acquisition constitutes an important strategic step for Beijer Ref.
“The North American market is highly fragmented and Heritage Distribution offers an excellent platform from which we can continue to drive consolidation,” he said.
The sale is expected to close in Q1 2023.
Beijer Ref has undergone significant expansion over the last decade creating dominant positions across Europe, Africa and Asia, especially Australia.