Samsung Electronics to Acquire FläktGroup from Triton for €1.5 Billion

Teledyne Technologies to Acquire FLIR Systems for About $8 Billion

January 10, 2021

Aerospace & Defense

Teledyne Technologies announced it will acquire FLIR Systems in a cash-and-stock deal valued at approximately $8 billion. FLIR shareholders will receive $28 per share in cash plus 0.0718 shares of Teledyne common stock for each FLIR share, with the transaction expected to close in mid-2021 subject to regulatory approvals.

Triton Acquires Majority Stake in Kälte Eckert Group

July 28, 2022

HVAC & Mechanical

Triton (Triton Smaller Mid‑Cap Fund II) has acquired a majority stake in Kälte Eckert Group, a German specialist in refrigeration and air‑conditioning systems using natural refrigerants. Triton is investing alongside management (Michael and Holger Eckert) to support the company’s regional expansion and further develop its sustainable refrigeration capabilities; terms were not disclosed.

Trane Technologies Acquires Stellar Energy Americas

February 18, 2026

Industrial Services

Trane Technologies completed its acquisition of Stellar Energy Americas, a provider of turnkey data center cooling solutions. The deal strengthens Trane Technologies’ data center thermal management offering through Stellar Energy’s modular cooling systems and is expected to accelerate growth, innovation, and scale.

Swegon Group AB Acquires HC Groep

July 3, 2024

HVAC & Mechanical

Swegon Group AB has acquired HC Groep, a Netherlands-based market leader in indoor climate technology, bringing HC Groep’s ten business labels and ~386 employees into Swegon’s global platform. The deal — completed with HC Groep’s previous investor Gilde Equity Management exiting — strengthens Swegon’s presence in the Dutch market and expands its ventilation, HVAC and building automation capabilities.

Equinor and SSE Thermal Acquire Triton Power from Energy Capital Partners

June 28, 2022

Energy

Equinor and SSE Thermal have completed the £341 million acquisition of Triton Power from Energy Capital Partners, forming a 50:50 joint venture to own Triton. The deal includes the 1.2 GW Saltend Power Station and positions the buyers to decarbonise flexible power generation — including plans to prepare Saltend to run on up to 30% hydrogen from 2027 and eventual conversion to hydrogen — while supporting Equinor's H2H Saltend hydrogen project.

Carrier Global Corporation Acquires Toshiba Carrier Corporation Stake from Toshiba

July 31, 2022

Building Products

Carrier Global Corporation has completed the acquisition of substantially all of Toshiba Corporation's ownership stake in Toshiba Carrier Corporation (TCC) for approximately $900 million. TCC, a global provider of residential and light commercial HVAC solutions including VRF and heat pump products with roughly $2 billion in 2021 sales and about 6,600 employees, will join Carrier's newly created Global Comfort Solutions business unit headquartered in Tokyo.