Beijer Ref signs agreement to acquire Refra

Beijer Ref AB, one of the world’s largest refrigeration wholesalers, has signed an agreement to acquire 90% of the shares in Refra UAB, a well-known European manufacturer of natural refrigerant HVAC/R systems, based in Lithuania.

Ellex Lithuania advised Beijer Ref on the transaction, conducting legal due diligence, drafting the transaction documentation, and advising on merger clearance and related competition law matters.

The core transaction team consisted of Paulius Gruodis, Laura Paulaitė and Arvydas Grušeckas from Ellex Lithuania. Other team members who worked on the transaction included Simona Bumblauskytė-Kiauleikienė, Emilija Denisenko, Edvinas Džulis, Dominyka Grybauskaitė, Tomas Kamblevičius, Jonas Kružikas, Lorena Nomeikaitė, Nerijus Patlabys, Eglė Petrošiūtė-Marozė, Danielė Razgutė, Kamilė Skrupskytė, Martynas Šeškus, Mykolas Tamulionis.

The transaction is subject to approval by the Lithuanian competition authority.

Headquartered in Malmö, Sweden, Beijer Ref has approximately 7,000 employees and operates in 45 countries across Europe, North America, Africa, Asia and Oceania. The Beijer Ref Group operates according to a decentralised organisational model where local management has the authority to make decisions.

Established in 1994, Refra specialises in custom-engineered cooling and heating solutions using natural refrigerants. Following completion of the transaction, Refra will continue to operate under its existing brand and management team.