Ormandy Group , the business unit of Avingtrans PLC , has acquired Hevac Limited , a heating , ventilation , and air conditioning solutions provider based in Elland , West Yorkshire . It has also bought HeatExchangeSpares . com ( HES ) a plates and gaskets supplier , based in Watford . Ormandy Group designs , manufactures , and services off-site plant , heat exchangers , and other HVAC ( heating , ventilation , and air conditioning ) products . The total consideration for the acquisitions is expected to be EUR 940,000 , which will be funded from the group ’ s existing cash resources . |
In the latest reported financial year , which ended December 2021 , the combined businesses and assets generated EUR 6.0M worth of sales and a loss before tax of EUR 0.34M . Gross assets acquired total EUR 855,000 . The acquisitions will complement Ormandy Group ’ s operations and expand its product range . Both Hevac and HES are established names in the HVAC industry and they supply systems and spares for commercial and public buildings around the world . Steve McQuillan , CEO of Avingtrans , said : “ I am pleased that Austen Adams and his team in the PSRE division have completed the acquisitions of Hevac and HES .” |
Johnson Controls ( JCI ) has acquired Hybrid Energy AS , a growing provider of high-temperature energy management solutions with a focus on heat pumps for district heating and industrial processes . The unique technology of Hybrid Energy will provide new , costeffective solutions to customers while addressing decarbonisation and sustainability efforts in Europe and beyond . Hybrid Energy , based in Lysaker , Norway , will add to the ability of Johnson Controls to address hightemperature |
heating requirements with a hybrid heat pump as its core . Through patented technology , Hybrid Energy solutions can achieve temperatures greater than 100 degrees Celsius using ultra-lowglobal warming potential natural refrigerants . With rapidly increasing market potential , solutions such as those of Hybrid Energy will help the European Union reduce greenhouse gas emissions by 55 % by 2030 and achieve the Green Deal of being climate neutral by 2050 , all while reducing reliance on fossil fuels . |