PowerCold Acquires Applied Building Technology Inc.
ST. PETERSBURG, FL — PowerCold Corp. has announced the acquisition of Applied Building Technology Inc. (ABT), a St. Petersburg, FL-based supplier of standardized heating, ventilation, and air conditioning packages for standard-sized commercial buildings such as national chain businesses. The asset purchase transaction involves a combination of cash and stock. Specific terms were not disclosed.
PowerCold CEO Frank Simola said, "PowerCold has entered the small commercial hvac application market with the acquisition of ABT. This is a perfect fit for our evaporative condensers and ABT's desiccant air conditioning units. PowerCold has gained an excellent strategic distribution network.