Trane Technologies said on 21 October 2026 that it had agreed to acquire Cancoil Thermal Corporation, a family-founded Canadian manufacturer of heat-transfer products. Financial terms were not disclosed.
Why Trane Technologies plc is buying Cancoil Thermal Corporation
Cancoil already supplies Trane's chiller and airside businesses. Trane said the deal will strengthen its heat-transfer expertise and the resilience of its supply chain, as demand grows from data centres, food processing, cold storage and hospitals.
“Cancoil adds a critical capability at the right time for our business and our customers.”
Deal terms and financing
Trane will take on Cancoil's existing plants in Ontario and its growing operations in Jacksonville, Texas, as well as the related entities Cancoil USA and Fin Aire. More than 450 employees will join Trane.
Regulatory approvals and timing
The acquisition is expected to close before the end of the year, subject to customary closing conditions and regulatory approval.
Market context
Cancoil was founded in 1983 by Chander and Anju Datta and makes fluid coolers, air-cooled condensers and custom finned-tube coils.
