Beijer Ref has agreed to buy 75% of FG Europe, expanding its HVAC footprint through a company with operations across the Balkans, the UK, Ireland and Turkey.
The binding agreement, announced September 14, 2026, also includes an option for Beijer Ref to acquire the remaining shares in the Greek distributor. Completion of the transaction still depends on approval from the relevant competition authorities.
FG Europe was founded in 1958 and is headquartered in Greece. The company supplies HVAC solutions for residential and commercial applications and reports annual turnover of approximately SEK 1.4 billion. Following the acquisition, FG Europe will continue to operate under its own brand.
Beijer Ref said the deal is expected to have a positive impact on its results. For those not familiar, it is a global wholesaler of cooling technologies and HVAC.
Joel Davidsson, acting CEO and CFO of Beijer Ref, said this of the acquisition:
"FG Europe is a valuable addition to our HVAC offering. The acquisition supports our ambition to further strengthen our product offering and market presence, while creating opportunities for collaboration and knowledge sharing across the Group. We look forward to continuing to build on FG Europe’s strong foundation and to further develop the business in close cooperation with its existing management team."
Beijer Ref currently employees 7,000+ employees, in 500+ branches, and serves 200,000+ customers. This move will certainly grow those numbers.
