Andrew Hall, Jason Beament and Simon Beament, Directors of Ayjay Group Ltd, have recently purchased the established air conditioning & refrigeration supply and installation business, CB Refrigeration Ltd.
The three Directors currently own a business portfolio which includes Ayjay Group,which specialises in electrical installations within the refrigeration sector. With a strong track-record in their sector, CB Refrigeration Ltd was acquired as an investment by the Directors, to support their plans for expansion, and compliment and strengthen the existing business portfolio.
Jason Beament, Director commented, “This acquisition will have a positive effect on the continuity of both businesses. Current customers will continue to seamlessly enjoy existing services, with no change to the present team or company name. We look forward to driving the business forward, and develop the growth of the brand in future years.”
Based in South Wales, CB Refrigeration Ltd was established in 1968 by Bryan and Patricia Andrews, offering supply, installation, maintenance and repair of all types of commercial refrigeration equipment, cellar cooling, air conditioning and glasswashers. The company has a strong reputation within the refrigeration industry, particularly the brewery, pub and service sectors.
Their son Mark Andrews, who eventually took over as Managing Director of the business, commented, “We are delighted to be handing the business over to the controlling force of a company we consider to have a great reputation for quality and service within the industry; with the knowledge that our customers and employees can expect the same duty of care following the change of management.”
Specialist Acquisitions Advisor Mervyn Ham of Iridium Corporate Services and Siôn Tudur, Associate of Capital Law were appointed as advisors in relation to the acquisition negotiations.