The Jeuns

Expansion of Nordic Climate continues in Norway

June 2, 2024 | by The Jeuns

Nordic Climate Group, a leading company in energy-efficient solutions, has recently expanded its presence in Norway by acquiring Reftec AS based in Trondheim. This acquisition also includes Reftec’s subsidiary Rana Kulde, which specializes in supplying and installing heat pumps for both domestic and commercial use.

Founded in 2007, Reftec has been known for its expertise in cooling and heating solutions using natural refrigerants. With 14 employees, Reftec and Rana Kulde together generated a revenue of NOK78m (€6.8m) in 2023. The acquisition of Reftec was made from its previous owners Erik Dyrseth, Per Bjørnaas, and Jonny Andersen, who collectively owned 81% of the company, along with the remaining 19% owned by employees.

Nordic Climate Group, established in 2021, has a turnover of 4 billion SEK and a workforce of around 1,550 employees spread across more than 80 local establishments in Denmark, Sweden, Norway, and Finland. This acquisition not only provides Nordic Climate Group with a strong foothold in Norway’s third largest municipality but also adds another company to its portfolio that focuses on natural refrigerants.

With this strategic move, Nordic Climate Group continues to solidify its position as a key player in the energy-efficient solutions market in the Nordic region. The acquisition of Reftec further strengthens the group’s commitment to sustainable practices and natural refrigerants.

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