Mestek Inc. acquired the nonreal estate assets of Embassy Industries from the parent firm, P&F Industries for $8 million, according to Boston Business Journal. Mestek said it will retain Embassy's operations in Farmingdale, N.Y., for six to nine months, then switch to a Long Island-based distribution center. Embassy, with annual sales of between $10-$12 million, makes baseboard and other hydronic heating products for residential and commercial use. Mestek is the parent of a variety of hydronic heating and HVAC firms, and intends to change its status to a privately held company this fall.
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As electronics continue to become smaller, faster, and more affordable, more and more contractors are investing in fleet-management solutions that help reduce their technicians’ time on the road, improve productivity, save gas, and protect these major assets from misuse or theft. Read more stories in 2017 April Issue.