In his new role, Wheeler will be responsible for A. O. Smith’s global water heater and boiler operations as well as its global water treatment business. He also will oversee the company’s research function including its Corporate Technology Center in Milwaukee as well as the information technology function. Wheeler will report to chairman and chief executive officer, Ajita G. Rajendra.
Heating, Air-conditioning & Refrigeration Distributors International (HARDI) applauds the House Education and the Workforce Committee on approving the Strengthening Career and Technical Education for the 21st Century Act(H.R. 2353).
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.
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.
APR Supply Co. announced the opening of its newest branch location in Upper Darby, Pennsylvania. The new branch at 510 South Cedar Lane will fill a gap in APR’s service to the eastern Pennsylvania region.
Samsung sends a fond farewell to Sang W. Lee, former president and chief executive officer of Samsung HVAC and promotes Russell Tavolacci to senior vice president and chief operating officer. Lee’s dedication over the years has ensured a smooth transition for all parties involved in Samsung’s acquisition of Quietside LLC.
The global heat exchangers market was valued $12.61 billion in 2015 and is projected to reach $20.12 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.9 percent from 2016 to 2022, according to Heat Exchangers Market Report published by Allied Market Research. The shell and tube heat exchanger segment held approximately one-fourth of the total market share in 2015.