Private equity firm EQT has entered into an agreement to sell its entire holding of unlisted A-shares in cooling wholesaler Beijer Ref to Melker Schörling AB (MSAB) at an undisclosed premium, according to a press release.
In connection with the transaction, Peter Jessen Jürgensen is also selling his A-shares, a portion of which are being exchanged for B-shares from EQT. Following the transaction, EQT will remain a shareholder with just over 30.7 million B-shares.
The deal results in Melker Schörling becoming the largest shareholder in Beijer Ref in terms of voting rights, holding 14.1 percent of the votes and 2.1 percent of the capital. The company stated that the investment is long-term, with a focus on continued industrial development.
'EQT has for many years been an important and committed owner that has strongly contributed to Beijer Ref's development and positioning. The Board wishes to extend its warm thanks to EQT for the excellent cooperation and their significant contributions, and looks forward to continued collaboration. We would also like to thank Peter Jessen Jürgensen for his valuable contribution to the company's development and are pleased that Peter is simultaneously reinvesting in Beijer Ref through an increased holding of B-shares', says Chairman of the Board Per Bertland.
The transaction is subject to regulatory approvals.
Beijer Ref AB (publ) is Sweden - based company primarily engaged in refrigeration technology and HVAC solutions, manufacture components, products and systems for air conditioning, heat pumps and refrigeration, as well as providing advise in temperature control. Beijer Ref AB scope of activity includes offering products in commercial and industrial refrigeration, heating, and air conditioning. The Company’s products primarily consist of refrigeration and air conditioning units, heat pumps, components and spare parts, which can be found in many types of buildings. The aftermarket accounts for part of Beijer Ref’s sales. Offering products comes from suppliers such as Toshiba, Mitsubishi Heavy Industries and Gree.
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