Mitsubishi Electric Subsidiaries Acquire AIRCALO

Mitsubishi Electric (MEHITS) Acquires Stake in Intramech Pty Ltd

October 27, 2025

Industrial Services

Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. (MEHITS), a wholly owned subsidiary of Mitsubishi Electric Corporation, has acquired a stake in Intramech Pty Ltd., a South African sales and services company specializing in applied HVAC and IT cooling systems. The investment aims to deepen local sales, service and engineering capabilities and strengthen Mitsubishi Electric's presence and one-stop service offering across southern Africa, particularly for growing data center cooling demand.

Mitsubishi Electric Acquires AG MELCO Elevator

November 21, 2025

Industrial Services

Mitsubishi Electric Corporation has completed the acquisition of all shares of AG MELCO Elevator Co. L.L.C., a Dubai-based elevator company, from Rawafed Almustaqbal Group L.L.C., a subsidiary of Al Ghurair Investment L.L.C. The transaction makes AG MELCO a wholly owned Mitsubishi Electric subsidiary and is intended to strengthen Mitsubishi's elevator maintenance and renewal operations in the Middle East and support its global building systems business.

Daikin Applied Acquires Alliance Air Products

March 2, 2023

Manufacturing

Daikin Applied has acquired Alliance Air Products, a San Diego–based manufacturer of custom air-handling equipment. The acquisition expands Daikin’s portfolio and engineering capabilities—strengthening its data-center cooling and custom HVAC offerings while enabling faster delivery and broader end-to-end solutions for mission-critical applications.

Mitsubishi Electric Acquires Ascension Lifts Limited

April 29, 2025

Building Products

Mitsubishi Electric Corporation, via its wholly owned subsidiary Motum AB, acquired all shares of Dublin-based Ascension Lifts Limited on April 29. The purchase strengthens Mitsubishi Electric's foothold in the Irish market and expands its elevator and escalator maintenance and renewal capabilities as part of a broader European growth strategy.

Marathon HVAC Services Acquires SoCal HVAC Specialist and Aloha Air Conditioning

April 24, 2023

HVAC & Mechanical

Marathon HVAC Services, a Sound Partners-backed residential HVAC platform, has completed the acquisitions of SoCal HVAC Specialist Heating & Air Conditioning, Inc. and Aloha Air Conditioning, Heating and Refrigeration to expand its footprint in Southern California. The add-ons strengthen Marathon's service capacity and recurring maintenance contract base as part of a roll-up strategy led by Sound Partners.

Ouellet Group Acquires Innovair Corporation

July 13, 2021

HVAC & Mechanical

Ouellet Group, a Quebec-based designer and manufacturer of electric heating and cooling products, has acquired Innovair Corporation, a Miami-based manufacturer and distributor of air conditioning equipment. The deal enables Ouellet to expand into the U.S. market and accelerate growth in the air-conditioning segment while Innovair will operate as a wholly owned subsidiary with existing management remaining in place.