SWORDS, Ireland — Trane Technologies has entered into an agreement to acquire Cancoil Thermal Corp., a North American manufacturer of heat-transfer products.
Founded in 1983 by Chander and Anju Datta and headquartered in Kingtson, Ontario, Canada, Cancoil is known for its engineering expertise, customer-focused approach, and ability to design and manufacture products tailored to customer needs, a Trane press release said. The company’s products, such as fluid coolers, air-cooled condensers, and custom finned-tube coils, are used in a wide range of applications for data centers, food processing facilities, refrigerated warehouses, supermarkets, schools, hospitals, and other environments.
The acquisition will include Cancoil’s existing operations, including manufacturing facilities in Ontario, its growing U.S. manufacturing operations in Jacksonville, Texas, and its team of more than 450 employees.
Cancoil is a current supplier to Trane, supporting key applications across the company’s chiller and airside businesses. With the addition of Cancoil, Trane will further strengthen its heat-transfer expertise and enhance supply-chain resiliency while creating opportunities to support and scale Cancoil’s continued growth. Cancoil will continue to serve customers as it does today, the press release said.
“Cancoil adds a critical capability at the right time for our business and our customers,” said Donny Simmons, COO at Trane. “Cancoil’s proven manufacturing capabilities, differentiated technical expertise, and skilled team will help us better serve customers in critical thermal management applications with speed, quality, and reliability. We already value Cancoil as a supplier, and we look forward to welcoming the team and advancing our work together.”
“For more than 40 years, our family has built Cancoil on a foundation of quality, strong relationships, and continuous investment in our people and capabilities,” said a statement from the Datta family. “We take great pride in what we have built and are confident that Trane Technologies is the right steward of our family’s legacy. This partnership represents an exciting opportunity to build on our history of success, continue delivering excellence to our customers, and create new opportunities for our employees, customers, suppliers and partners as we enter our next phase of growth.”
The transaction is expected to be completed before the end of the year.
Looking for quick answers on air conditioning, heating and refrigeration topics?
Try Ask ACHR NEWS, our new smart AI search tool.
Ask ACHR NEWS
Whether you require installation, repair, or maintenance, our technicians will assist you with top-quality service at any time of the day or night. Take comfort in knowing your indoor air quality is the best it can be with MOE heating & cooling services Ontario's solution for heating, air conditioning, and ventilation that’s cooler than the rest.
Contact us to schedule a visit. Our qualified team of technicians, are always ready to help you and guide you for heating and cooling issues. Weather you want to replace an old furnace or install a brand new air conditioner, we are here to help you. Our main office is at Kitchener but we can service most of Ontario's cities
Source link
