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.
Uponor North America is expanding its manufacturing facility in Apple Valley, Minnesota, with completion expected by January 2018. The $17.4 million investment will be used toward the expansion of an additional 58,000 square feet to increase manufacturing capacity to meet customer demand. This is the 10th expansion since Uponor began operations in Apple Valley in 1990. The most recent expansion took place in 2016 when the company invested $18 million and added 88,000 square feet to its manufacturing facility.
The Whalen Co. was commended for making a difference in the Talbot County (Maryland) community at the Talbot County Business Appreciation Breakfast. This year’s Business Appreciation Breakfast awards reflected a community impact theme and the many ways that a company can impact a community through work.
Goettl Air Conditioning donated $2,200 worth of professional tools to U.S. veterans who recently graduated from the College of Southern Nevada Air Conditioning Technology Program. The tools of the trade will help them start their careers in the industry.
Quite frankly, I can’t imagine any distributor not assigning a value to their service and recouping at least a portion of the expenses tied to the service. While I personally believe 10 percent is a bit low, it is a start in the right direction.
Bitzer is warning users against imitation oils. In Vietnam and Korea, counterfeiters partly disguised their imitations with the logo and name of the specialist for refrigeration compressors. These forgeries can lead to compressor breakdown, in contrast to the use of Bitzer original refrigeration oils.
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.
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.
The city of St. Clair Shores is officially the first city in Michigan to take advantage of a law introduced in July 2016 that allows local governments to make facility improvements leveraging flexible financing programs that are not considered debt. Through the Tax-Exempt Lease Purchase (TELP) program, St. Clair Shores will partner with Johnson Controls on city-wide upgrades, including HVAC, building automation, lighting, and water improvements.
Florida Gov. Rick Scott visited RGF Environmental Group Inc. during his “Fighting for Florida’s Future” tour. A global manufacturer headquartered in Riviera Beach, Florida, RGF has created more than 50 new jobs over the past four years, currently employs more than 130 Floridians, and is actively seeking new hires to fill 25 new work stations.