USA: CSW Industrials is to acquire US passive air handling product manufacturer TRUaire for approximately $360m.
TRUaire, based in Santa Fe Springs, California, is a leading supplier of passive air handling solutions for residential and commercial applications, offering a broad suite of high-quality products including grilles, registers and diffusers. TRUaire sells through wholesale distribution and retail channels, with HVACR technicians and homeowners as primary end users.
The company has five US distribution centres, with its state-of-the-art manufacturing facility located in Vietnam. Sales in 2020 are expected to reach around $108m.
CSW Industrials operates across three segments: industrial products; coatings, sealants and adhesives; and specialty chemicals. Products include well-known HVAC brands RectorSeal, Balco, Smoke Guard and Whitmore.
“This acquisition will allow us to expand our existing HVAC/R platform with a compelling portfolio of best-in-class products, while leveraging our existing distribution channels, and serving the same customers that we serve today,” said CSW Industrials’ chairman, president and CEO Joseph B Armes.