Aussie Plumbing Parts Co. Reece Pays $280M For Actrol

Law360, New York (February 3, 2014, 1:20 PM EST) -- Plumbing products company Reece Australia Ltd. has completed a $280 million acquisition of refrigeration company Actrol Group from private equity firm Catalyst Investment Managers, the companies said Monday.

Reece is looking to enter the Australian air conditioning and refrigeration industries, using Actrol as the vehicle. The acquisition covers AC Components, a refrigeration parts wholesaler and Actrol Parts, a commercial refrigeration and air conditioning distribution business.

"Actrol Group has strong market positions across the commercial and residential HVAC-R markets and represents a compelling strategic fit with Reece,"...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.