WaterFurnace parent acquires ClimateMaster
NIBE Industrier AB of Sweden, the parent company of Fort Wayne, Ind.-based WaterFurnace International, announced it has entered into a stock purchase agreement with LSB Industries to acquire 100% of LSB’s Climate Control Group for US $364 million.
CCG is the holding entity for six HVAC companies that include ClimateMaster, International Environmental Corp., ClimateCraft, ClimaCool Corp., Koax Corp. and ThermaClime Technologies. These companies, which are located in Oklahoma City, manufacture both commercial and residential climate control products, such as water-source and geothermal heat pumps, hydronic fan coils, modular geothermal chillers, and large custom air handlers. At year-end 2015, CCG had 1,259 employees and net sales of US $274 million.