English
EspañolBeijer Ref Acquisition of Heritage Distribution
- TARGET
- Heritage Distribution Holdings
- TRANSACTION TYPE
- Buy-side advisory
- INDUSTRIES
- HVAC, Distribution
- GEOGRAPHY
- USA
- SIZE
- US$1.275 Billion
SITUATION
Seale & Associates acted as exclusive financial advisor to Beijer Ref AB ("Beijer Ref") on its agreement to acquire Heritage Distribution Holdings ("Heritage Distribution") from Gryphon Investors for US$1.275B.
OUTCOME
Seale was retained by Beijer Ref to identify potential acquisition targets engaged in the distribution of HVAC/R equipment in North America, confidentially pre-qualify targets, and assist in the execution of the transaction.
Beijer Ref successfully completed the acquisition of Heritage Distribution Holdings and was immediately margin accretive to the business. The acquisition represents Beijer Ref's entry into the North American market and will establish the company as a leading HVAC/R distributor in the U.S. South/South East region, one of the most attractive regions for HVAC/R in North America.
"The acquisition of Heritage Distribution constitutes an important strategic step for Beijer Ref. The North American market is currently undergoing a shift towards electrification and energy efficiency, accelerated by regulatory changes. Also, the growing recognition of indoor air quality and climate change impact has increased the demand for environmentally friendly and innovative HVAC technologies, which creates a great opportunity for our combined product offering."
The acquisition of Heritage Distribution constitutes an important strategic step for Beijer Ref.
"The acquisition of Heritage Distribution constitutes an important strategic step for Beijer Ref. The North American market is currently undergoing a shift towards electrification and energy efficiency, accelerated by regulatory changes. Also, the growing recognition of indoor air quality and climate change impact has increased the demand for environmentally friendly and innovative HVAC technologies, which creates a great opportunity for our combined product offering."
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