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Investing.com -- Beijer Ref has announced on Monday the acquisition of an 80% stake in Airwave, a leading HVAC distributor operating across the Baltic region.
Airwave generates annual revenues of approximately SEK 600 million and serves both residential and commercial sectors. The company is headquartered in Tallinn, Estonia, with additional sales offices in Riga and Vilnius.
The acquisition adds scale, regional expertise, and a strong local brand to Beijer Ref’s portfolio. While the financial impact of the deal is expected to be minor, it aligns with Beijer Ref’s strategic focus on targeted growth through regional consolidation and product diversification.
Beijer Ref plans to maintain operational continuity by keeping Airwave’s brand and management team intact. The deal includes an option for Beijer Ref to acquire the remaining shares in the future.
The transaction remains subject to approval by the Estonian competition authority before completion.
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