Beijer Ref

Beijer Ref has signed an agreement to acquire Young Supply, a North American distributor of commercial refrigeration and HVAC with headquarters in Detroit, Michigan. The company serves contractors in the Midwest United States, including Michigan and Ohio - territories adjacent to Beijer Ref's current holdings in the United States. Young Supply has annual sales of approximately SEK 1.4 billion with 18 branches.

Young Supply is a family-owned company that was founded in 1935. With over 85 years of experience, Young Supply provides an experienced and professional team dedicated to offering solutions in commercial refrigeration and HVAC, primarily focusing on the aftermarket for both residential and commercial projects. The company has strong alignment with Beijer Ref's key suppliers in the U.S. region.

Young Supply will continue to operate under its existing brand, both in distribution and marketing. The existing management will roll-over investment into Beijer Ref's U.S. platform and continue to run the business. The acquisition is expected to have a minor positive impact on the group's result. Young Supply employs approximately 200 people.

Christopher Norbye, CEO Beijer Ref, comments:

"We are pleased to welcome Young Supply to the Beijer Ref group. The company offers comprehensive expertise and knowledge, primarily in commercial refrigeration, which will be an important addition to Beijer Ref's existing platform in the United States. With our collective industry knowledge, new opportunities arise to create meaningful synergies that support the long-term goals of the business. The acquisition aligns with our overall acquisition strategy and we look forward to continuing to drive growth and develop the company together with the existing owners."

Malmö, 22 April 2024
Beijer Ref AB (publ)

For more information, please contact:
Joel Davidsson
CFO
Telephone +46 40-35 89 00
Email jdn@beijerref.com

Niklas Willstrand
Director of Global Communications
Telephone +46 40-35 89 00
Email nwd@beijerref.com

BEIJER REF AB is a technology-oriented trading Group which, through added-value products, offers its customers competitive solutions within refrigeration and climate control. Beijer Ref is one of the largest refrigeration wholesalers in the world, and is represented in 45 countries in Europe, North America, Africa and Asia and Oceania. Website: www.beijerref.com