Trane Technologies Agrees To Acquire Cancoil Thermal, Terms Undisclosed

Accelerates scale and continued growth of the Cancoil business in Canada and the U.S.

Trane Technologies (NYSE:TT), a global climate innovator, today announced it has entered into a definitive agreement to acquire Cancoil Thermal Corporation, a leading North American manufacturer of heat-transfer products.

The acquisition will include Cancoil’s existing operations, including manufacturing facilities in Ontario, Canada, its growing U.S. manufacturing operations in Jacksonville, Texas, and its highly skilled team of more than 450 employees.

Cancoil is a current supplier to Trane Technologies, supporting key applications across the company’s chiller and airside businesses. With the addition of Cancoil, Trane Technologies 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 transaction is expected to be completed before the end of the year, subject to customary closing conditions and regulatory approval. Terms of the deal were not disclosed.