Daikin buys Mitsubishi’s US distributor ABCO
USA: Daikin has acquired ABCO HVACR Supply + Solutions, a leading distributor of Mitsubishi Electric and other air conditioning and refrigeration systems and accessories in northeast USA.
Following the acquisition by Daikin’s US subsidiary, Daikin North America LLC, ABCO will now begin promoting the full line of Daikin ductless, residential unitary, light commercial, and commercial HVAC products through ABCO’s 17 branches. This will include Daikin controls, air quality, parts, and accessories.
In a statement describing the acquisition as part of its vision for growth in North America, Daikin said: “ABCO’s unique blend of day-to-day air conditioning and refrigeration application engineering together with its expertise in residential and commercial sales provides a winning platform for Daikin’s wide range of equipment, parts and accessories.
“This move strengthens Daikin’s opportunity for greater collaboration in the local territories among ABCO branches, Daikin group companies, and Daikin’s entire regional customer base,” it added.
No specific mention is made of ABCO’s existing air conditioning suppliers – which, in addition to Mitsubishi Electric, includes US manufacturer American Standard and Johnson Controls’ Luxaire – but Daikin says the ABCO branches will “continue to fulfill existing obligations”.
Under the new ownership, ABCO will operate as a wholly-owned business unit of Daikin, while maintaining its headquarters location in Long Island City, New York. In addition, ABCO will continue to operate through its branches in Massachusetts, Connecticut, Delaware, Pennsylvania, New Jersey and New York.
Established in 1949, ABCO has over 220 employees. It offers a wide range of air conditioning and refrigeration products, as well as controls and spares, refrigerants and tools.
“The strategic alignment with ABCO provides a dynamic foothold for Daikin in the Northeast where ABCO is a leading distributor of a broad range of HVAC products from residential to industrial,” said Taka Inoue, EVP and CSMO, Goodman/Daikin North America. “Our vision for Daikin is to become North America’s leading indoor comfort solutions provider, and the acquisition of ABCO is a key, strategic milestone for Daikin in our continued effort to achieve our North American vision.”
Michael Senter will continue as ABCO’s CEO and ABCO’s senior management team will continue to be the leaders of ABCO in all facets of sales, operations, finance and human resources. ABCO will also maintain its company name, the statement says.
Commenting on the move, Andrew Senter, ABCO vice president of sales and operations, and the third generation of ABCO’s Gottlieb-Senter ownership, commented: “ABCO has been the leading distributor of residential and commercial ductless air conditioning in the United States. With this experience, we recognise the potential of innovative HVACR technology to enhance the growth and prosperity of our irreplaceable customers. The opportunity for ABCO as a Daikin member company is dynamic. Together, with Daikin, we are creating bold new channel teamwork to bring the ABCO commitment to service and quality to yet another generation of customers.”