Lu-Ve completed the acquisition of Italia Wanbao-ACC Srl through its subsidiary SEST SpA, with a total planned investment of EUR 8.95 million. The plant will be expanded to make static heat exchangers, and 150 former ACC workers will be hired by June 2024.

Voltas Ltd executed a joint venture agreement on April 30, 2022 with Highly International (Hong Kong) to manufacture inverter compressors, motors and parts in India. Highly International will hold 60 percent, and the JV will have Rs 250 crore of equity capital. Completion is subject to approvals including Press Note 3 clearance.

Stiebel Eltron Group acquired PAW GmbH & Co. KG, a family-owned maker of heating, freshwater and flat-station distribution systems employing about 150 people in Hameln, Germany. Terms were undisclosed and Livingstone Partners advised on the sale.

Carrier Global has signed a binding agreement to acquire Toshiba Corporation's ownership stake in Toshiba Carrier Corporation, a VRF and light commercial HVAC joint venture, a deal projected to more than double Carrier's VRF sales.

Lu-Ve has submitted a binding, conditional proposal to buy Italia Wanbao ACC (WACC), a compressor maker in administration, to convert it to heat exchanger production. The plan involves about EUR 6 million of site investment and partial absorption of the workforce over three years.

Francks Kylindustri acquired Kyl & Värmepumpservice i Halmstad AB, a family refrigeration and heat pump service business in Halmstad, Sweden with about SEK 50 million turnover and 14 employees. The former owners will continue to run the company. Announced November 24, 2021.

Spirotech is acquiring the Austrian family business EDER, including its pressurisation technology and about 90 employees, effective 1 January 2022. The deal adds EDER's pressurisation solutions to Spirotech's HVAC system water quality range.

Armstrong International completed its acquisition of Leslie Controls' control valve and steam water heater business during Q3 2021. The deal expands Armstrong's product range and global channel network.

Kobe Steel announced a change in the effective date of its capital and business alliance with Miura, under which Miura acquires Kobelco Compressors shares to form a joint venture.

NIBE Industrier signed an agreement to acquire 50% of Go Geothermal Ltd, a UK heat pump distributor based in Newton Aycliffe, with the remaining shares to follow within five years. The purchase price was not disclosed.

Johnson Controls International completed its acquisition of Silent-Aire, an Edmonton-based maker of custom air handlers and modular data centers. Silent-Aire will be reported within Johnson Controls' Global Products segment.

Aspen Pumps Group, a global air conditioning and refrigeration manufacturer, announced its acquisition of Italian AC brackets and installation accessories maker 2 Emme Clima Srl, based in Padova.

Viessmann Group acquired a minority interest in Dutch climate and process control company Priva as part of a strategic family partnership. The two companies will jointly offer combined climate solutions for buildings and districts.

Chinese appliance group Hisense Home Appliances will acquire 75% of Sanden and inject 175 million euros of capital, with the shareholder change to be approved at the May 7 shareholder meeting. Sanden's only French plant is in Tintenia near Rennes.

Chinese group Hisense is set to acquire 75% of Japanese compressor maker Sanden via a share issue worth about 21.4 billion yen (about 178 million euros). The process is to be finalised at a shareholder meeting on May 7, and affects the Tinteniac plant in France.

Financial investor NORD Holding completed the purchase of compressor manufacturer GEA Bock from GEA Group on February 26, 2021, and the company now operates as Bock GmbH. The deal included the Frickenhausen headquarters and subsidiaries in China, India and the Czech Republic.

Spanish company Oliva Torras has acquired 100% of BSI, which designs and makes compressor mounting equipment for refrigerated vehicles and buses near Dallas, Texas. BSI has about 50 employees and annual sales of about 10 million euros; the price was not disclosed.

Shanghai Highly Group and Marelli Holdings announced the completion of a joint venture transaction for auto parts, after Marelli divested and restructured its related business. The venture covers cooling and heating components for vehicles.

The joint venture Highly Marelli Holdings between Highly International and Marelli Corporation was officially established on January 28, 2021. It focuses on electrified compressors, heat pumps and HVAC systems for vehicles, with direct access to the Chinese market.

Fluidra completed the acquisition of substantially all assets of Built Right, a heat pump manufacturer in Punta Gorda, Florida. Built Right will continue to operate from its headquarters.

Bradford White agreed to purchase the Keltech line of tankless electric water heaters, expanding its commercial and industrial electric products portfolio and starting a partnership with Bradley.

Dantherm Group has acquired AirCenter AG, a Baden-based Swiss supplier of dehumidification and air-conditioning products with about 30 employees. The deal extends Dantherm's distribution channels in Switzerland.

Mueller Industries signed a definitive agreement to purchase the Hart & Cooley Flexible Duct business, expanding its air quality and climate control offering. The deal is scheduled to close in late January 2021.

Cummins-Wagner finalized its acquisition of F.R. Mahony & Associates, a Rockland, Massachusetts water and wastewater manufacturer's representative and distributor, effective October 29, 2020. All FRMA employees transferred to Cummins-Wagner's employee stock ownership plan.

Stiebel Eltron agreed to acquire a majority shareholding in Zimmermann Lüftungs- und Wärmesysteme, a Freudenberg, Germany maker of heating and heat-recovery systems under the Proxon and Atarus brands.

GEA has agreed to sell compressor maker Bock, including Bock GmbH and its subsidiaries in the Czech Republic and India plus sites in China and Australia, to German private equity firm Nord Holding. Financial terms were not disclosed and closing is expected in early 2021.

Marelli and Highly International signed an agreement to create Highly Marelli Holdings, a joint venture focused on electrified compressors and HVAC, with legal closing planned for early January 2021.

Soldatal, parent of SDT Air, signed a sale agreement to acquire the machining production unit of the FES Technology Centre in Ripoll, Girona. The site adds 1,400 m2 of plant space for SDT Air's capacity expansion.

Trane Technologies spun off its industrial business, which combined with Gardner Denver to form the new Ingersoll Rand in a deal valued at $15 billion; the transaction has been completed.

Assemblin acquired Örestadskyl, a refrigeration, freezing and heat pump company with offices in Malmö and Löddeköpinge, Sweden, with annual revenue of about SEK 30 million. The deal took effect immediately.

Alfa Laval acquired Niagara Blower Company, a Buffalo, New York maker of engineered-to-order heat transfer products such as air-cooled heat exchangers, on May 29, 2013. The company has about 120 employees.

With LDC support, Stuart Turner, a UK water pump and pressure solutions maker, acquired Mikrofill Systems in March 2021. The article describes the acquisition as part of a buy-and-build strategy.

Mitsubishi Electric Europe B.V. acquired all shares of AQS Produkter AB, a Swedish distributor of comfort, process and IT cooling and heat pump products, on April 1, 2020. The deal strengthens Mitsubishi Electric's commercial business in Sweden.

Nidec signed a definitive agreement with Secop Austria to acquire the Delta household refrigeration compressor production line in Fürstenfeld, taking over about 40 employees. Closing is expected by June 1, 2020.

NIBE Industrier signed an agreement to acquire 100% of German heat pump manufacturer WATERKOTTE GmbH, which operates in Herne and Georgsmarienhütte in Germany. The purchase price was not disclosed, and consolidation is expected from 1 April 2020. The announcement was made on 10 March 2020.

NIBE Industrier agreed to acquire 51% of Nathan Holding B.V., a Benelux distributor of heating and cooling solutions based in Zevenaar, with the remaining shares to follow in two stages. Annual sales are about EUR 50 million; the price was not disclosed.

Nanjing TICA Thermal Technology formalized the acquisition of the operational branch of Italian ORC maker EXERGY from the Maccaferri Industrial Group, following a September 2019 auction. The new company will operate as EXERGY International S.R.L. near Milan.

Inflexion has agreed to acquire Aspen Pumps, a specialist condensate pump manufacturer, from 3i Group in a deal announced in December 2019. Aspen has over 200 employees and exports to more than 100 countries.

JB Industries, an Aurora, Illinois maker of HVAC/R tools, has completed its acquisition of C&D Valve of Oklahoma City, Oklahoma. Both brands will continue to operate independently.

Johnson Controls announced it acquired Synchrony, a Roanoke, Virginia developer of active magnetic bearing technology, from Siemens Gas and Power. The deal closed November 1, 2019 and will improve its centrifugal chiller products.

Engineered Specialty Products (ESP) announced the acquisition of Weksler Glass Thermometer Corporation (WGTC), a provider of industrial and bimetal thermometers for the HVAC market, mainly in the Eastern U.S.

Private equity fund ESSVP IV, advised by Orlando Management AG, has acquired the refrigerator compressor business of Nidec Corporation, operating under the Secop brand, which has over 1,800 employees and plants in Slovakia, Austria and China.

Hutchinson has taken a majority share in TCSA, a joint venture with MANN+HUMMEL in Laval, France, making thermal management and cooling systems for EV and HEV vehicles. The unit employs around 60 people and is already operational.

Marelli agreed an equity transfer agreement with Johnson Controls-Hitachi to acquire an equity interest in Shanghai Highly New Energy Technology, an electric compressor maker, with completion estimated in Q3 2019.

Whirlpool Corporation has completed the sale of its Embraco compressor business in Brazil and worldwide to Japanese motor maker Nidec. The deal was first announced in April 2018.

Nidec Corporation signed an agreement to sell its Secop compressor business to ESSVP IV, a private equity fund advised by Orlando Management AG. Closing is expected in about three months.

Atlas Copco acquired 100% of Eurochiller, a Mortara, Italy industrial cooling and heat treatment systems maker with about 90 employees and roughly EUR 26 million revenue in 2018. Alantra advised the seller Bravo Invest.

Ingersoll Rand agreed to merge its air compressor, pumps, and fluid and materials handling business with Gardner Denver, spinning off its industrial business. The climate solutions business will receive $1.9bn in cash from the merger financing.

Nidec agreed to sell its entire Secop refrigeration compressor business to ESSVP IV and Silenos GmbH, subject to approvals in Germany, Austria, Spain and by the European Commission.

The European Commission approved Nidec's proposed acquisition of Embraco, Whirlpool's refrigeration compressor business, subject to Nidec's commitments. The clearance decision was dated 12 April 2019.