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Home » Beijer Ref completes new acquisition in South Africa

Beijer Ref completes new acquisition in South Africa

  • marimac 
Image credit: Thermo King
Image credit: Thermo King

Beijer Ref has signed an agreement to acquire all assets in Transport Cooling SA, a distributor of transport cooling for trucks and trailers. The company’s geographical coverage currently consists of seven branches in South Africa and one branch in Namibia. Annual sales amount to approximately SEK 150 million.

Transport Cooling SA is an operating unit of GEA Africa, owned by GEA Group AG. Over the years, GEA has established good relationships in the transport refrigeration segment in southern Africa.

Since 1964, Transport Cooling SA has had an exclusive distribution agreement with Thermo King, a global industry leader in transport refrigeration. Through its distribution agreement, Transport Cooling SA provides a wide range of high-quality products. The business currently consists of about 90 employees and their customer base includes about 400 customers.

Transport Cooling SA will be integrated into Beijer Ref’s branch network in Africa but will operate under its own brand. The acquisition is expected to have a minor impact on the Beijer Ref Group’s earnings and position.

Christopher Norbye, chief executive officer of Beijer Ref commented, “Transport refrigeration is a new market segment for us and we are pleased to welcome Transport Cooling SA to the Beijer Ref Group. It is a well-managed company that offers and services more than 150 products in transport cooling. With over 40 years of experience in the industry, the company has a knowledgeable management team that will continue to be a central part of the business’s future development.”

The parties have signed a binding agreement, after which the competition authority in South Africa will review the deal. The takeover is expected to take place in Q1 2023.