Acquisition to expand WaterFurnace’s commercial offerings
May 10, 2014
WaterFurnace Renewable Energy, Inc. has entered into an agreement to acquire the assets and technology of Chillit Chillers, a manufacturer of specialty chillers and geothermal heat pumps for large commercial and industrial applications. Chillit Chillers has seen increasing sales since its establishment in 2009 and has an expertise in the development of controls, building automation and remote monitoring software.
“The acquisition of Chillit fits well into our long term commercial strategy and strengthens our position in that market,” said Herb Batrouny, senior vice president at WaterFurnace. “Chillit not only expands our product line to 500 tons but also provides us with new technologies and access into adjacent markets.”
WaterFurnace plans to continue Chillit’s operations from its facility in Goshen, Indiana while it determines the best way to maximize operating efficiencies going forward.