Beijer Ref completes acquisition of heat pump manufacturer Refra
Sweden – Beijer Ref has completed its acquisition of 90% of Lithuanian manufacturer Refra following regulatory approval, strengthening its manufacturing capabilities in natural refrigerant heat pumps and refrigeration systems. The transaction was finalised on 9 October, with Beijer Ref also securing an option to acquire the remaining shares.
The acquisition follows an agreement announced in August and adds Refra’s established manufacturing operations and product portfolio to Beijer Ref’s OEM business.
Refra to retain its brand
Headquartered in Vilnius and established in 1994, Refra manufactures commercial and industrial refrigeration systems, chillers and heat pumps, with a focus on natural refrigerants including propane (R290) and CO₂ (R744).
The company will continue operating under the Refra brand following the acquisition. Beijer Ref previously reported that Refra generates annual turnover of approximately SEK500 million and operates with good profitability.
Expanding natural refrigerant technology
Refra manufactures a range of R290 air-to-water heat pumps for commercial and industrial applications. Its portfolio includes Flamma models with heating capacities of approximately 20–50kW, Ignis units covering 50–180kW and the Solis range extending from 100–400kW.
The acquisition strengthens Beijer Ref’s OEM portfolio with additional technology for heating and cooling systems using natural refrigerants, particularly hydrocarbons, while expanding its capabilities in CO₂ refrigeration.
Commenting when the acquisition was first announced in August, Jonas Steen, COO EMEA at Beijer Ref, said: “This is a strategically important acquisition for Beijer Ref. It will strengthen our OEM portfolio with proprietary technology for indirect cooling and heating systems using natural refrigerants.”
Strengthening European manufacturing
The acquisition expands Beijer Ref’s European manufacturing operations and adds further capacity to develop and manufacture equipment using lower-GWP refrigerants.
Refra will be consolidated into Beijer Ref’s financial accounts from 9 October 2026.
