The two will continue to operate under their existing structure
May 29, 2017
Bacharach Inc. announced the completion of the acquisition of Parasense Inc. The combined resources of Bacharach and Parasense will significantly strengthen the company’s ability to provide the best solutions to the worldwide HVACR market with fixed and portable gas detection instrumentation and performance monitoring offerings.
According to the “Heating Equipment Market in the U.S.” study from The Freedonia Group, forced-air heating is the preferred comfort delivery method in the U.S. Of those, warm-air furnaces comprise the vast majority of the overall demand with 64 percent of the total value of sales in 2016.
Microf LLC, a provider of residential lease-to-own products for the HVAC industry, raised $96.7 million in growth capital. The combined debt and equity raise is funded through a new $40 million committed senior debt facility provided by Atalaya Capital Management with an additional $40 million accordion feature; a new $10 million senior debt facility provided by Microf’s existing lender, BrandBank; and $6.67 million in equity provided by current equity investors.
HOUSTON — Goodman Manufacturing will be the first heating, ventilation and air conditioning (HVAC) manufacturer to launch Emerson’s new Copeland Scroll™ two-stage compressor that’s designed to provide budget-minded homeowners high-energy efficiencies with enhanced indoor comfort at an affordable, mid-tier price, the companies have announced.
ALPHARETTA, Ga. — LG Electronics USA Air Conditioning Technologies has added two more industry veterans, further enhancing its commercial applied sales and customer experience organizations. These changes address the evolving needs of the U.S. market and support the growth of LG’s variable refrigerant flow (VRF) technology.
Fort Washington, Penn. — Thermostat Recycling Corp. (TRC) has announced its sixth annual Big Man On Planet (BMOP) competition began May 1, in partnership with Heating, Air-conditioning and Refrigeration Distributors International (HARDI). BMOP will run through Oct. 31 and all HARDI wholesaler members are eligible to participate.
Newport News, Va. — Ferguson’s parent company Wolseley plc, an international distributor of plumbing and heating products to professional contractors, announced its financial results for the first half of the 2017 fiscal year alongside a name change and the upcoming retirement of CEO Frank Roach.