Atlas Copco completed its acquisition of Chinese heating and cooling equipment maker Guangdong Euroklimat on 2 October 2026, adding industrial heat pumps, chillers and thermal management equipment to its Oil-free Air division. The purchase price was not disclosed.

Pentair plc completed its approximately $1.4 billion acquisition of Taco Group Holdings, a maker of hydronic and water-based pumps, valves and controls for HVAC, plumbing and industrial markets, on October 1, 2026.

Pentair agreed to acquire Taco, which will join its Water Solutions segment and keep the Taco brand, with a significant presence in Cranston, Rhode Island. The deal is aimed at high-growth North American end-markets.

Pentair agreed to acquire Cranston, Rhode Island-based Taco Group Holdings, maker of pumps, valves, tanks and heat exchangers, in a deal valued at about $1.4 billion. Closing is expected in Q4 2026, and Pentair says Taco will operate as a stand-alone business.

SPX Technologies completed the acquisition of Neptronic Inc. for a total cash consideration of CA$605 million.

Pentair plc agreed to acquire Taco Group Holdings, a hydronic and water-based HVAC solutions maker based in Cranston, Rhode Island, for about $1.4 billion, subject to customary adjustments, announced 28 July 2026.

Astorg portfolio company IPCOM, a European specialty distributor of insulation products, acquired a majority stake in Le Froid Pecomark, a French distributor of refrigeration, heat pump and ventilation equipment. No deal value was disclosed.

SPX Technologies completed its acquisition of Crawford United, a Cleveland-based holding company, for an aggregate transaction value of about $300 million. The air-handling segment joins SPX's HVAC business, and non-core aerospace and transportation units are being sold.

Danfoss has acquired Palladio Compressors to expand its compressor portfolio with screw compressors for industrial heat pumps and commercial refrigeration. The announcement was made on January 6, 2026.

Bessemer Investors has completed the sale of Leonard Valve Company, a Cranston, Rhode Island maker of water temperature control valves and mixing systems, to A. O. Smith Corporation. The deal was first agreed in November 2025.

A. O. Smith signed a definitive agreement to acquire LVC Holdco LLC, parent of Leonard Valve of Cranston, Rhode Island, for $470 million all-cash, subject to adjustments, with closing expected in Q1 2026.

German industrial holding Nimbus agreed to acquire the Kompressortechnik unit of Hoerbiger, which makes compressor components for refrigeration and brake air systems, with operations in Germany, China and India and about 300 employees, mostly in Schongau. Closing is expected in early 2026; the price was not disclosed.

Eaton signed an agreement to acquire the Boyd Thermal business of Boyd Corporation from Goldman Sachs Asset Management for $9.5 billion, announced November 3, 2025. Boyd Thermal makes liquid cooling and thermal components for data centers and aerospace.

Danfoss has acquired Palladio Compressors, adding screw compressors for large HVAC/R and industrial heat pump systems using natural and low-GWP refrigerants. The deal was announced on October 1, 2025, with no value disclosed.

L'Islet, Quebec-based Innovair Solutions has acquired Thermo 2000 as part of its growth strategy in North America.

Shipping company TORM acquired the remaining 25% stake in Frederikshavn-based ME Production, becoming its full owner; the company will keep operating independently and develop heat pump systems.

KSB has invested several million euros to acquire an interest of almost 20% in Ecop, an Austrian developer of large industrial heat pumps. The stake gives KSB access to the market for large heat pumps.

SPX Technologies completed its acquisition of Toronto-based Sigma Heating and Cooling and Omega Heat Pump for about $144 million (CAD 200 million), expanding its HVAC portfolio.

Finland-based Vexve Group completed its acquisition of Danish dynamic balancing valve manufacturer Frese A/S after finalising the FDI filing in Denmark. The transaction was completed on 31 January 2025, and the combined company has a turnover of approximately 200 million EUR.

A.P. Moller Holding has closed its offer to acquire Concentric AB, a global pump, fan and thermal management manufacturer for commercial vehicles.

Aspen Pumps Group acquired Malco Tools, Inc., a Minnesota manufacturer of tools for the HVAC and building construction industries. Malco becomes the North American headquarters of Aspen, and its CEO takes over as CEO of Aspen Pumps Group North America.

Verder Liquids BV, part of Verder Group, has acquired Sauermann's pump technologies and monitoring instruments, including HVAC-R condensate removal pumps and air quality instruments.

Verder announced the acquisition of Sauermann, a HVACR market provider of condensate pumps and air quality measurement instruments. Sauermann's CEO Serge Bohyn commented on the deal; no value was stated.

Verder announced the acquisition of Sauermann, a supplier of HVAC-R technologies including condensate removal pumps, to expand its pump and equipment portfolio.

Emerson announced on August 13, 2024 that it completed the sale of its remaining 40% interest in the Copeland joint venture to private equity funds managed by Blackstone, in a transaction valued at approximately $3.5 billion.

Heat-Timer Corporation, a supplier of commercial heating controls and energy management systems, has been sold to Leonard Valve Company, a portfolio company of Bessemer Investors. EC M&A acted as exclusive financial advisor to Heat-Timer.

Robert Bosch GmbH has agreed to buy Johnson Controls International's global HVAC business for residential and light commercial buildings in an all-cash deal valued at US$8.1 billion. The deal includes the air-conditioning joint venture between Johnson Controls and Hitachi.

Kirloskar Pneumatic Company signed a memorandum of understanding on 21 June 2024 to acquire a 54.55% equity stake in refrigeration firm Systems and Components India for around Rs 15 crore in cash.

Vessco Water, based in Minneapolis, acquired G.A. Fleet Associates, a New York distributor of pump and process treatment equipment for municipal water and HVAC equipment for commercial markets, based in Rye Brook, New York.

American Event Services closed its acquisition of Riverview, Florida-based Canariis Corporation, a maker of packaged HVAC, plumbing and fire-protection systems. Canariis becomes a wholly owned subsidiary of AES.

Blackstone and Emerson closed the acquisition of a majority stake in Emerson's Climate Technologies business, now standalone as Copeland, in a transaction valuing the business at US$14 billion. Emerson received about $9.7 billion at close.

Carrier Global agreed to sell its global commercial refrigeration business to its joint venture partner Haier for an enterprise value of $775 million, including about $200 million of net pension liabilities, announced 13 December 2023.

Swiss GF closed its tender offer for Finnish-listed Uponor on 13 November 2023, combining building technology businesses into a new GF Uponor division and moving infrastructure into GF Piping Systems.

Danish axial impeller maker Multi-Wing Group acquired 100% of Italian HVAC&R fan manufacturer VIP Air Empowerment Srl, which was founded in 1985. The Fasolini family owners will remain in the company.

Munters has signed an agreement to acquire ZECO Aircon Limited, an Indian air treatment manufacturer headquartered in Gurgaon, for an estimated enterprise value of MSEK 790. The deal is expected to close before year-end and will be financed through existing credit facilities.

Johnson Controls announced its acquisition of M&M Carnot, a maker of CO2-based industrial refrigeration equipment with low GWP, based in Annapolis, Maryland and Trois Rivières, Quebec. Announced June 2023.

Blackstone funds completed the acquisition of a majority stake in Emerson's Climate Technologies business, valued at $14.0 billion, which will be renamed Copeland. Emerson receives about $9.7 billion in upfront proceeds and keeps 40% common equity.

BITZER Group signed an acquisition contract to acquire OJ Electronics A/S, a Sønderborg, Denmark maker of control solutions for ventilation systems and electric floor heating. The deal is expected to close no later than Q3 2023, subject to usual approvals.

US fridge and air-conditioning group Carrier Global agreed to buy the core business of German heat pump maker Viessmann for about 12 billion euros ($13 billion), according to Reuters Breakingviews.

Canadian HVAC-R distributor The Master Group announced the acquisition of Refrigeration Sales Corporation (RSC), an Ohio-based distributor serving Ohio and Western Pennsylvania. RSC will keep operating independently under its current management team.

Danfoss has finalized its acquisition of BOCK GmbH, a maker of CO2 and low-GWP compressors, on 1 March 2023. BOCK's team of 400 staff joins Danfoss; the deal was first announced in late 2022.

Johnson Controls announced on January 13, 2023 its acquisition of Hybrid Energy AS, a Lysaker, Norway maker of high-temperature industrial heat pumps. Financial terms were not disclosed.

AE Industrial Partners signed a definitive agreement to sell portfolio company Resolute Industrial, a North American provider of specialty HVAC&R rental services and compressor remanufacturing, to Aggreko for a transaction value of $440 million on a cash-free, debt-free basis.

DiversiTech Corp., a US HVACR component maker, formed DiversiTech Europe by merging with Italian Artiplastic and Rodigas, Belgian Castel Engineering, and its existing UK business. The combined company will make HVACR parts and accessories in Europe.

Lancaster-based private equity firm Peak Capital acquired Penn Pump & Equipment, a Hatfield manufacturer and distributor of plumbing and HVAC pumping products, as reported on October 31, 2022.

Blackstone agreed to acquire a majority stake in Emerson's climate technologies unit, which makes Copeland compressors, in a deal valuing the business at about $14 billion, with Emerson receiving about $9.5 billion in pretax proceeds and keeping a 45% stake.

Danfoss announced its intent to acquire compressor manufacturer BOCK GmbH of Frickenhausen, Germany, from private equity firm NORD Holding, expanding its natural refrigerant compressor portfolio; closing expected by Q1 2023.

Standard Motor Products acquired 100% of Kade Trading GmbH, a Glinde, Germany-based supplier of mobile temperature control components with about $6 million in 2021 revenue, funded from its revolving credit facility. The announcement was made on October 5, 2022.

Bingshan Refrigeration announced plans to acquire 60% of Panasonic Compressor from Sanyo Electric and 55% of Panasonic Refrigeration for a combined cash price of RMB 1.011 billion, giving it full ownership of both.

CAREL Industries, via a subsidiary, signed a binding agreement to acquire the business of SENVA Inc., a Beaverton, Oregon maker of sensors for HVAC and indoor air quality. Closing is expected by end of October 2022.