The HVAC ductless market felt a shake up as Ingersoll Rand and Mitsubishi Electric Corp. announced they have entered into an agreement to establish a 50-50 joint venture (JV) pending global antitrust review. The JV will include marketing, sales, and distribution of ductless and variable refrigerant flow (VRF) heating and air conditioning systems through Ingersoll Rand’s Trane and American Standard commercial and residential channels and existing Mitsubishi Electric distributors and representatives in the U.S. and select countries in Latin America.
“This is bringing two premium brands together,” said Dave Regnery, executive vice president of Ingersoll Rand. “The unique value proposition that this now creates is extensive distribution application expertise, which is a strength of Trane and American Standard in the U.S. That will be combined with the product innovation and technical expertise around the ductless market, which is what Mitsubishi Electric brings to the joint venture.”