Swedish refrigeration giant Beijer Ref has made a strategic move in the Indian market, acquiring a 70% stake in Chillaire Solutions, a leading distributor of refrigerants and HVAC-related products. This acquisition signifies Beijer Ref’s commitment to expanding its footprint in the rapidly growing Indian refrigeration and air conditioning sector.
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Chillaire Solutions: A Strong Local Player:
Founded in 2018, Chillaire Solutions has carved a niche for itself in the Indian market, boasting a strong distribution network and established relationships with key industry players. With annual sales of approximately SEK 120 million (USD 11.9 million), the company boasts a team of 20 skilled professionals passionate about providing efficient and reliable cooling solutions.
Strengthening Beijer Ref’s Position:
This acquisition aligns perfectly with Beijer Ref’s long-term growth strategy, allowing them to:
- Gain a robust foothold in the Indian market: Chillaire Solutions’ existing infrastructure and market expertise provide Beijer Ref with immediate access to a vast network of customers across India.
- Broaden product portfolio: Chillaire Solutions’ focus on refrigerants and HVAC products complements Beijer Ref’s existing offerings, creating a one-stop shop for customers’ cooling needs.
- Leverage combined expertise: By combining Beijer Ref’s global knowledge and resources with Chillaire Solutions’ local market understanding, the partnership promises to create a powerhouse in the Indian refrigeration industry.
The Future of Cooling in India:
The Indian refrigeration and air conditioning market is projected to reach USD 13.7 billion by 2027, fueled by rising disposable incomes, urbanization, and increasing demand for energy-efficient cooling solutions. Beijer Ref’s acquisition of Chillaire Solutions positions them to capitalize on this growth, offering customers innovative products, expert advice, and reliable service.
Quote from Beijer Ref CEO:
“We are excited to welcome Chillaire Solutions into the Beijer Ref family,” said Jonas Koersner, CEO of Beijer Ref. “This acquisition is a significant step forward in our strategy to become a leading player in the Indian refrigeration and air conditioning market. We are confident that together, we can provide our customers with the best possible products and services.”
Beijer Ref has secured an option to acquire the remaining 30% stake in Chillaire Solutions in the future, offering the potential for even deeper integration and collaboration. This move paves the way for a strong partnership, promising to shape the future of cooling in India by offering unparalleled solutions and driving sustainability and energy efficiency in the sector.