Beijer Ref, a wholesaler of cooling technology and HVAC, agreed to acquire 51% stakes in AAD and HVAC Consolidated, two Australian air conditioning companies, for $46m. "The acquisition of AAD and HVAC Consolidated aligns with our growth strategy and complements our existing offering in Australia well. AAD has very good conditions for continued strong growth and we look forward to developing the companies together with the existing owners," Christopher Norbye, Beijer Ref CEO.