Two established HVAC suppliers have merged. Motors & Armatures Inc. (MARS), a commercial and residential HVACR motors and components supplier established in 1946, recently acquired Heat Controller Inc., a commercial and residential HVAC equipment supplier with a history spanning more than 75 years.
Last fall, MARS hired an investment banker and began discussing potential growth options. The company started communicating with potential targets and shortly thereafter had reached an agreement with Heat Controller. The companies announced in May that they’d be joining forces.