GWA International Limited (GWT), Australia’s leading supplier of building fixtures and fittings to households and commercial premises today announced that it has enetered into an agreement with Carrier Air Conditioning Limited (a unit of Carrier Corporation) to acquire the business and assets of Brivis Limited. The acquisition cost of $50 million will be funded from existing bank facilities. The purchase price represents approximately 6 times sustainable EBITDA.
GWA Managing Director Peter Crowley said, “The Brivis business is a logical extension to our Dux water heating business and we plan to integrate the businesses to form GWA Heating and Cooling. This new Division will leverage off builder relationships amd technology development common to both Dux and Brivis businesses to improve our overall offer to the heating and cooling market. “
Brivis, based in Braeside Victoria, is a leader in ducted climate systems for the residential market having a strong position in its core market in Victoria and is active in all stages.
Tags: Airconditioning, GWA International, GWT, New acquisition
