William Malcolm

Beijer Ref Acquires Sinclair Global Group

Sinclair Global Group based in Brno has been acquired by the Swedish Beijer Ref Group. Beijer purchased an 85 percent stake in the company and retains the right to purchase the remaining fifteen percent. The transaction, the value of which was not disclosed by the parties, is to be completed by the end of this year.

Sinclair Global supplies heat pumps and air conditioners for residences and industrial buildings and also provides LED lighting. “Sinclair is a company with great growth potential that adds value to our entire group and strengthens our investment in our brands,” said Per Bertland, CEO of Beijer Ref. According to him, the Brno company’s products will become an important addition to the Beijer Ref product portfolio.

The Brno company also believes in strengthening the Sinclair brand. The takeover by the Swedes is also intended to bring several synergies. “Our products will continue to be distributed and sold under the Sinclair brand through existing sales channels, but will also be launched in several other Beijer Ref markets,” said Sinclair.

The company supplies air conditioning, and heat pumps to twenty-five countries. Its primary markets include Central and Eastern Europe, but it has also established itself in Germany.

In the last accounting period, which ended on March 31, 2020, the domestic company achieved a net profit of almost 101 million crowns with revenues of a billion crowns. In the previous period, the profit was 59 million and sales of around 737 million crowns. The company employs about 110 people.

The Swedish group Beijer Ref has an annual turnover of approximately 1.5 billion euros, around 39.5 billion crowns. It supplies, among other things, products in the field of cooling, air conditioning, and heating. The company’s shares are traded on the Stockholm Stock Exchange. The market value of the company is Swedish 44.6 billion crowns, around 115 billion crowns.

In recent years, the field of air conditioning, refrigeration, air conditioning, and heating has been in the spotlight of strategic and financial investors. In recent years, the semi-state energy group ČEZ has been investing heavily in it. Last year, for example, it bought the German company En.plus, which focuses mainly on air conditioning and cooling, such as the technology of large cooling systems for data centers. The acquisition price was 357 million crowns.

CEZ Group also buys companies operating in this area regularly. It has purchased AZ Klima, the Romanian High Tech Clima, and Kart in recent years.