Trane Technologies has agreed to acquire Cancoil Thermal Corporation, a North American manufacturer of heat-transfer products, in a move designed to strengthen its supply chain and expand its thermal management capabilities.
The acquisition includes Cancoil’s manufacturing facilities in Ontario, Canada, and its US manufacturing operations in Jacksonville, Texas, along with a workforce of more than 450 employees. Financial terms of the deal have not been disclosed.
Founded in 1983, Cancoil manufactures fluid coolers, air-cooled condensers and custom finned-tube coils for commercial and industrial applications, including data centres, food processing facilities, refrigerated warehouses, supermarkets and hospitals.
Bringing manufacturing expertise in-house
Cancoil is already a supplier to Trane Technologies, supporting applications across its chiller and airside businesses. Bringing the manufacturer into the group is expected to improve supply chain resilience while creating opportunities to expand production and serve growing demand for thermal management equipment.
Donny Simmons, Chief Operating Officer at Trane Technologies, said Cancoil’s manufacturing capabilities and technical expertise would help the company serve customers more effectively.
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.
Donny Simmons, Chief Operating Officer at Trane Technologies
The acquisition will also bring together the companies’ capabilities in heat-transfer technology, supporting applications in industries where reliable temperature control is essential.
Supporting future growth
Cancoil will continue serving its customers as it does today following the acquisition.
The Datta family, which founded the business, said the agreement would build on more than 40 years of investment in its people and manufacturing capabilities, while creating further opportunities for employees, customers and suppliers.
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