Czech Republic: Schoenherr advises Beijer Ref AB on acquisition of SINCLAIR Global group s.r.o.
Schoenherr advised Beijer Ref AG ("Beijer Ref"), a world-leading wholesaler of cooling technology and air-conditioning, on the acquisition of a majority stake in Czech SINCLAIR Global group s.r.o., the leading Central European supplier of heating, ventilating and air-conditioning equipment with a focus on air conditioners and heat pumps, from private individuals Ivo Nešpor, Vladimír Pakosta, and Zdeněk Čížek.
"We were delighted to support Beijer Ref in acquiring control over SINCLAIR Global group s.r.o., a transaction that reinforces Beijer Ref's position in the CEE region," said Vladimír Čížek, a partner at Schoenherr's Prague office and leader of the team.
Beijer Ref, founded in 1866 in Sweden, is the world's largest global wholesaler of cooling technology and air conditioning. The company has 70 subsidiaries in Europe, Asia Pacific and Africa and employs approximately 3,700 employees in 36 countries.
SINCLAIR Global group s.ro. has been operating on the Czech market since 1990. The company is the leading Central European supplier of heating, ventilating and air-conditioning equipment with a focus on the air-conditioning, heat pumps and LED light segment. Its predicted annual turnover for 2020 is EUR 40m, and the company has over 100 employees.
The Schoenherr team advising on the transaction was led by Vladimír Čížek (partner) and Jiří Marek (attorney at law).
Tax advisory services to Beijer Ref AG were provided by Deloitte.
The sellers were represented by Czech law firm Novalia, and tax advisory services were provided by KPMG.