EQT Private Equity becomes largest shareholder in Beijer Ref

EQT Private Equity has acquired a 29.6 percent stake in Beijer Ref AB, making it the largest shareholder in the global wholesaler of cooling technology and air conditioning.

Beijer Ref, founded in Sweden in 1866, operates 425 branches across 42 countries, serving over 100,000 customers. The company is headquartered in Malmö, Sweden, and employs approximately 3,700 people.

EQT plans to support Beijer Ref's growth strategy, which includes organic expansion and acquisitions. The investment firm also emphasizes its commitment to sustainability, aiming to further position Beijer Ref as an industry leader in environmental practices. This includes promoting green technologies and supporting the transition away from F-gas dependent solutions.

The transaction, valued at approximately USD 1.1 billion, is expected to close by the end of December 2020, pending regulatory approval. EQT noted that Beijer Ref has been a company they have followed for years and have been impressed by its consistent performance, viewing it as a thematic investment.