Beijer Ref, the Swedish owners of Dean & Wood in the UK, announced today that it has bought British heat pump and refrigeration wholesaler HRP.
Beijer Ref already owns 44% of the HRP shares, which it bought in 2009 when it purchased Carrier Corporation's refrigeration wholesale business in Europe and South Africa in 2009.
HRP has found it difficult to make consistent profits in the UK on its £37.7 million (SEK 500 million) turnover. However, Beijer Ref sees opportunities to make use of its existing logistical operations in the UK to make HRP profitable.
Beijer Ref CEO, Per Bertland said:
“With the acquisition of HRP, we consolidate Beijer Ref’s operation in the important UK market. The three companies will continue to operate under their respective brands. However, through the joint group affiliation, we will be able to offer even better service and more efficient logistics, which improves our total offer in a competitive market.”
“The Board of HRP believes that becoming full members of the Beijer Ref team in the UK represents the best opportunity for the future development of HRP. With the skills and resources of a larger group behind us we will be better placed to address the new markets opening up in our business.”