Toronto-based Kontrol Technologies Corp. has purchased an unnamed family-owned business offering integrated HVAC and building automation systems.
According to Kontrol, the company has operated in the sector for more than 20 years, and has a “contracted order book of approximately $120 million for the next three years.”
“This acquisition represents another significant milestone in the execution of our plans to further scale our business,” says Kontrol CEO Paul Ghezzi. “In addition to an impressive order book, there are numerous synergies that the acquisition company provides in terms of scale and growth. Given our adequate current cash on hand needed to close the transaction, we hope to complete the acquisition in the near term and integrate the acquisition company into our operating platform.”
The transaction is expected to close in August 2021.
Kontrol Technologies provides smart building systems to improve energy management, air quality and emission monitoring through Internet of Things (IoT), Cloud and SaaS (software as a service) technology.