DUBLIN (dpa-AFX) - Trane Technologies (TT) on Wednesday said it has agreed to buy Cancoil Thermal Corporation, a North American heat-transfer products manufacturer, to strengthen supply chain resiliency and expand its thermal management capabilities.
The acquisition includes Cancoil's manufacturing facilities in Ontario, Canada, its U.S. manufacturing operations in Jacksonville, Texas, and more than 450 employees. Financial terms were not disclosed.
Founded in 1983, Cancoil manufactures fluid coolers, air-cooled condensers and custom finned-tube coils for applications including data centers, food processing, refrigerated warehouses, supermarkets, schools and hospitals.
Cancoil is an existing supplier to Trane Technologies, supporting its chiller and airside businesses. The acquisition is expected to strengthen heat-transfer expertise, enhance supply chain resiliency and support Cancoil's continued growth.
The transaction is expected to close before the end of 2026, subject to customary closing conditions and regulatory approval.
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