Completion of sale expected during first half of 2016
December 25, 2015
SPX Corp. announced an agreement for the sale of its Dry Cooling business to Paharpur Cooling Towers Limited. The purchase price is estimated to be approximately $48 million, subject to adjustments for working capital at closing.
In November 2011, Comfort Systems acquired 60 percent of EAS with an option to acquire the remainder
December 23, 2015
Comfort Systems USA Inc., a leading provider of commercial, industrial, and institutional HVAC services, announced that it has entered into an agreement to acquire the remaining 40 percent noncontrolling interest in Environmental Air Systems (EAS), headquartered in Greensboro, North Carolina, effective Jan. 1, 2016.
Transaction is anticipated to close in the first half of 2016
December 22, 2015
Ingersoll-Rand plc announced it will sell its remaining equity interest in its Hussmann refrigeration business as part of a transaction in which Panasonic Corp. is acquiring 100 percent of Hussmann’s shares.
Acquisition adds approximately $7.6 million of annualized revenue
December 1, 2015
Installed Building Products Inc., a leading installer of insulation and complementary building products, has announced the acquisition of Sierra Insulation Contractors Inc. and Eco-Tect Insulation Inc.
$13.4 billion deal will create world’s largest industrial gas company
November 30, 2015
Airgas, Radnor, Pennsylvania, will become a wholly owned subsidiary of Air Liquide, based in Paris, France, under an agreement reached between the two companies. Airgas is a leading supplier of industrial gases and associated products and services in the United States.
Daikin Applied Americas announced it is acquiring a minority ownership stake in Riptide IO, a Santa Barbara, California-based software company that focuses on helping building owners connect, manage, and automate building equipment by bringing the benefit of the Internet of Things (IoT) to commercial buildings.
Kele supplies over 108,000 peripheral control products
November 19, 2015
Antares Capital and American Capital arranged for $170 million in financing to support the acquisition of Kele Inc. by Snow Phipps Group LLC. Kele is a distributor of peripheral control products used in building automation systems. Snow Phipps is a private equity firm focused on middle-market control investments.
Phoenix Energy Technologies monitors and controls energy usage at an enterprise level
November 5, 2015
Duke Energy, one of the nation’s largest electric utilities, has acquired a majority share of Phoenix Energy Technologies (PhoenixET), a provider of energy management systems and services for commercial customers. The terms of the deal were not disclosed.
DI now enters the metal building insulation market
November 2, 2015
Distribution International Inc. (DI), a leading distributor and fabricator in the mechanical insulation market, announced it has acquired Selle Supply Co. and sister company PBI Supply Inc., full-line distributors of insulation products and related construction materials, specializing in the lamination of fiberglass insulation for metal buildings.