Beijer Ref to Acquire 75% Stake in Greek HVAC Distributor FG Europe

Beijer Ref to Acquire 75% Stake in Greek HVAC Distributor FG Europe

Greece: Beijer Ref has signed a binding agreement to acquire 75% of the shares in FG Europe, a Greece-based HVAC distributor founded in 1958 and headquartered in Athens, with an option to acquire the remaining shares. FG Europe has an annual turnover of approximately SEK 1.4 billion (approximately USD 148 million) and an established presence across the Balkans, the UK, Ireland and Turkey, serving residential and commercial HVAC applications. The company will continue operating under its own brand, while the acquisition is expected to have a minor positive impact on Beijer Ref’s results. Completion remains subject to approval from the relevant competition authorities.

Source: Beijer Ref AB