SWEDEN/FRANCE: Beijer Ref has signed an agreement to acquire 85% of French company EID, a manufacturer of insulated copper pipes and wholesaler of refrigeration and air conditioning components and tools.
The Swedish wholesaler also has an option to acquire the remaining shares.
Based in Avignon, EID operates from a 9,000m2 factory producing customised insulated copper pipes in a range of sizes and insulation materials, as well as copper joints and fittings.
Established in 1992, EID has annual sales of around €16m. Although the company’s principal market is in France, around 25% of sales is for export.
Beijer Ref says that EID will continue to operate under its own brand and the founders will remain and manage the business.
Describing the EID business, Beijer Ref CEO Christopher Norbye said: “They have many years of experience in the industry and are a well-established company with a broad customer base and coverage throughout France. EID’s product range complements our existing offering well.”