Beijer Ref Acquires Majority Stake in Baltic HVAC Distributor Airwave

Beijer Ref Acquires Majority Stake in Baltic HVAC Distributor Airwave

Sweden/Baltic Region: Beijer Ref has entered into an agreement to acquire 80% of the shares in Airwave, a major HVAC distributor operating across the Baltic region. The Swedish-based group also holds an option to acquire the remaining 20% of shares in the future. The transaction, which remains subject to approval by Estonia’s competition authority, will expand Beijer Ref’s presence in Northern Europe. Founded in 1999 and headquartered in Tallinn, Estonia, Airwave operates additional offices in Riga, Latvia, and Vilnius, Lithuania. The company serves both residential and commercial markets and reports an annual turnover of approximately SEK 600 million (USD 54 million / EUR 50 million). 

Following the acquisition, Airwave will continue operating under its existing brand. Beijer Ref stated that the acquisition is expected to have a minor positive financial impact. According to the company, the deal strengthens its regional capabilities and supports its broader strategy of expanding market presence, promoting knowledge sharing, and enhancing its HVAC solutions portfolio. 

Source: Refindustry