Chemelex Acquires Electric Heat Trace Group Ltd.'s SmartTrace Monitoring Platform

Brookfield Acquires Chemelex from nVent for $1.7B

February 3, 2025

Manufacturing

Brookfield Asset Management, via one of its private equity funds and together with listed affiliate Brookfield Business Partners, completed the acquisition of Chemelex from nVent Electric Plc for $1.7 billion. Brookfield funded the deal with about $830 million of equity (Brookfield Business Partners invested roughly $210 million for a 25% interest) with the balance from institutional partners; Brookfield said it will apply its industrial operating expertise to grow Chemelex as an independent business.

Champions Group Acquires Lex Cooling, Heating, Plumbing & Electrical

January 15, 2026

HVAC & Mechanical

Champions Group Holdings, a national provider of residential HVAC, plumbing and electrical services, has acquired Lex Cooling, Heating, Plumbing & Electrical, a North Texas residential service provider. Lex will retain its brand and leadership as Champions Group expands its presence in the Texas market.

Eaton Acquires Exertherm

May 21, 2024

Industrial Services

Eaton has completed the acquisition of Exertherm, a U.K.-based provider of continuous thermal monitoring solutions for electrical equipment. Eaton plans to integrate Exertherm's thermal monitoring technology into its Brightlayer software suite to expand capabilities for data centers, utilities and industrial customers and improve safety and reliability of critical electrical infrastructure.

3E Acquires ChemChain

January 11, 2024

Cloud & SaaS

3E has acquired ChemChain, a Luxembourg-headquartered provider of blockchain-based digital product passport technology, to expand its Supply Chain & Sustainability offering and enhance the 3E Exchange platform. The acquisition brings ChemChain's proprietary IP and technology into 3E's compliance and digital product passport capabilities to accelerate supply chain transparency and sustainability solutions.

SPX Technologies Acquires Thermolec

January 20, 2026

Manufacturing

SPX Technologies has completed the acquisition of Montréal-based Thermolec Ltd. for CA$195 million (approximately US$140 million). Thermolec, a manufacturer of custom electric duct heating and related HVAC solutions with nearly 200 employees and about US$35 million in annual revenue, will join SPX's HVAC Electric Heat business to expand product capabilities and grow sales in the U.S. and Canada.

Fexa Acquires Trakref to Add Refrigerant Tracking and Compliance

April 4, 2023

Software

Fexa, a Mullica Hill, New Jersey-based facilities management enterprise SaaS provider, has acquired Trakref, a Nashville-based refrigerant tracking and management software company. The acquisition expands Fexa's CMMS platform capabilities to address refrigerant compliance, ESG reporting and sustainability requirements for multi-site facility operators.