“It’s an exciting time in our industry as we continuously seek new opportunities to accelerate the deployment and adoption of safe and sustainable solutions and services,” said Claude Allain, president of HVACR and data centers for Johnson Controls. “M&M Carnot is well-positioned in its ability to deliver ultra-sustainable industrial refrigeration solutions and will allow us to better serve our growing customer base in this vertical.” 

M&M Carnot designs and manufactures industrial refrigeration equipment and controls that use carbon dioxide, which has a GWP of 1.

“We’re excited to join global leader Johnson Controls to accelerate our passion for providing sustainable, natural refrigeration solutions that are safe for people and the planet,” said David Sholtis, CEO of M&M Carnot.

“The support and resources of Johnson Controls will allow us to scale the business faster by bringing our innovative, environmentally friendly refrigeration and cooling technologies to a growing market in search of energy efficient, green technology. We believe that together, we’ll bring exciting new opportunities for our customers and employees alike.” 

Based in Annapolis, Maryland and in Trois Rivières, Quebec, Canada, M&M Carnot will add to the growing portfolio of Johnson Controls industrial refrigeration equipment operating on low GWP refrigerant CO₂. M&M Carnot is one of North America’s largest providers of transcritical CO₂ solutions, including heat pumps and tailored solutions for data centers, positioning Johnson Controls to capture growing demand for this technology. Their combined engineering expertise and ultra-low-GWP technologies also will help Johnson Controls advance its commitment to cut customer emissions and support customers on their net zero journey. 

In other deal news, two large manufacturer’s rep firms have been acquired, one by a rival and another by a private equity firm.

HTS Eng. Ltd. entered into an agreement with the owners of Arlington, Texas-based Oslin Nation to acquire the 80-year-old hydronics company. The strategic move enhances HTS’ HVAC and building automation controls offerings and strengthens the independent manufacturers’ rep firm’s Texas footprint with pump and plumbing capabilities.

Financial details of the transaction were not disclosed. Oslin Nation’s 80 employees will join 255 HTS Texas employees on the payroll, though no staffing, branding or operational changes are planned. Co-owners Mike Barnett and Steven Lipe, will continue to run the Oslin Nation business and join as directors on the HTS Texas board.

“We weren’t looking to be acquired, but we are extremely excited to join the HTS team,” Barnett said. “The HTS local leadership team has the same strong shared values and principles we prioritize to build a great work environment, great culture, and strong and loyal teams.”

Private investment firm Adrian announced that its North America Fund team acquired a majority stake in Tom Barrow Co., a provider of commercial HVAC solutions in the US Southeast. The management team and founding family will continue to own a meaningful minority share of the business.

Through its design assist capabilities, Tom Barrow works with architects, mechanical engineers, building owners and contractors at the outset of the engineering and design process and offers support throughout the HVAC product lifecycle. Founded in 1955 and headquartered in Atlanta, Georgia, the company has ten locations across Georgia, Florida, Tennessee and Alabama, with approximately 240 employees.

“The commercial HVAC industry benefits from particularly strong secular tailwinds,” said Todd Welsch, managing director of Adrian’s North Mmerica fund.

“Building owners and tenants are increasingly focused on both indoor air quality and energy efficient buildings. Health care facilities, life sciences labs, EV and battery plants, solar panel plants, and data centers are also all HVAC-intensive, increasing the need for clean room levels of purity, specialized cooling, or both.”