Beijer Ref is on a mission to be preferred provider of sustainable and energy-efficient heating and cooling technology. Nordea has supported the company for over 20 years and recently helped facilitate the company's entry into the US market.
“Sustainable temperature control for all” is the vision of Beijer Ref, which specialises in solutions for commercial refrigeration, air conditioning and heating.
The Swedish wholesaler has been on an impressive growth journey, with Nordea by its side for over 20 years. With 140 subsidiaries in 45 countries, it has 5,500 employees and is listed on the Nasdaq Stockholm.
Sustainability is a central part of Beijer Ref’s strategy. In addition to selling products from leading suppliers, the company manufactures refrigeration units and heat pumps with a clear environmental profile.
“We have a strong focus on organic growth as well as the consolidation of today’s largely fragmented market,” says Beijer Ref CEO Christopher Norbye. Since 2000, Beijer Ref has completed over 60 acquisitions, with Nordea playing a key role as financial partner.
“We have a long history with Nordea, who have always been supportive,” says Norbye.
We have a long history with Nordea, who have always been supportive
In 2023 the company entered the North American market through its purchase of Heritage Distribution. Nordea helped facilitate the SEK 13bn transaction through both bridge financing and a rights issue.
The US represents a significant growth opportunity for Beijer Ref, as the world’s largest heating, ventilation and air conditioning (HVAC) market is undergoing a shift towards more energy-efficient and sustainable products.
“This acquisition was a transformative step for us and creates new conditions for continued global expansion,” says Norbye.