Melker Schörling AB (MSAB) has agreed to acquire all outstanding A-shares in Beijer Ref AB from EQT and Peter Jessen Jürgensen for an undisclosed premium, the companies announced. The transaction elevates MSAB to the position of largest shareholder by voting rights in the refrigeration and climate control wholesaler.
Under the terms reported, MSAB will hold 14.1% of the company’s voting rights while accounting for 2.1% of share capital. Company statements say MSAB intends to increase its stake in Beijer Ref gradually over time.
MSAB and Per Bertland - Beijer Ref’s Chairperson of the Board - have also entered into a mutual right of first refusal agreement covering their respective A-share holdings. According to Beijer Ref’s nomination committee instructions, the largest shareholder by voting rights will appoint the chair of the Nomination Committee when it is formed in September; that role will now fall to MSAB.
Per Bertland expressed gratitude to EQT for its role in Beijer Ref’s development and noted that Peter Jessen Jürgensen is simultaneously reinvesting in the company by increasing his holdings of B-shares. Bertland said: "We welcome MSAB as our new majority shareholder. MSAB represents a long-term, industrial ownership approach that is fully in line with Beijer Ref’s strategy and ambitions for the future."
MSAB Chairperson Mikael Ekdahl commented that the firm looks forward to collaborating with Beijer Ref’s board and management to support the company’s industrial and global expansion.
Beijer Ref stated that its operations, strategy and financial targets remain unchanged following the transaction. The company operates as a refrigeration and climate control wholesaler across 45 countries in Europe, North America, Africa, Asia and Oceania.
The agreement is subject to regulatory approval. Specifically, the deal requires sign-off from Sweden’s Inspectorate of Strategic Products under the Swedish Screening of Foreign Direct Investments Act.
Context and implications
The move establishes MSAB as the leading holder of voting power in Beijer Ref while leaving its share capital stake relatively modest. The mutual right of first refusal arrangement between MSAB and Per Bertland introduces a formal mechanism for potential future changes in A-share ownership between the two parties. The nomination committee appointment right means MSAB will influence the selection process for that committee later in the year.