Partnership UAE: Abu Dhabi–based Mubadala Investment Company has teamed up with Bain Capital to acquire Service Logic, a US commercial HVAC and building automation services provider, from private equity firm Leonard Green & Partners. The financial details of the deal were not disclosed. Headquartered in Charlotte, North Carolina, Service Logic operates a network of more than 140 locations across North America and employs over 5,000 technicians. The company delivers essential

Heat pump South Korea: The government has unveiled plans to accelerate the adoption of heat pumps, which use air-source heat for space heating and hot water, as part of its broader decarbonization strategy. During a ministerial meeting on industrial competitiveness and the growth strategy task force held at the Government Complex Sejong on the morning of the 16th, the Ministry of Climate, Energy and Environment outlined a target to cut 5.18 million tons of greenhouse gas emis

Ariston ITALY: Ariston Group has completed the acquisition of 100% of Riello Group, a well-established company known for its heritage brands, including Riello and Beretta. This strategic transaction provides Ariston with access to complementary sales channels, product lines, and a robust service network, strengthening its position in Italy’s climate comfort sector. It also enhances Ariston’s standing as a global expert in combustion technologies, leveraging Riello’s extensive

factory INDIA: Home appliances brand Haier Appliances India is set to expand its manufacturing presence in the country with an investment of ₹3,500 crore (US$387 million) over the next three to four years. The Chinese company, which produces televisions, air conditioners, and refrigerators, currently operates two facilities in Greater Noida and Pune and is planning a third unit in western or southern India. On Friday, Haier unveiled its Gravity AI Series Air Conditioners duri

Collaboration INDIA: The Centre for Entrepreneurship Development (CED), Government of Gujarat, has signed an MoU with Bosch Home Comfort India Limited to set up Heating, Ventilation, and Air Conditioning (HVAC) Skill Development Centres in Northern Gujarat. Under this collaboration, the nodal centre will be established at Ganpat University in Mehsana, serving as a hub for specialised technical training in the HVAC sector. The partnership aims to enhance employability, promote

Hoffman & Hoffman to Invest $8.5M and Create 60 Jobs in Lexington County USA: Hoffman & Hoffman, a leading HVAC company, has announced plans to invest $8.5 million in a new facility in West Columbia, Lexington County, signaling a major expansion of its operations in South Carolina. The project will consolidate the company’s existing offices into a single, modern location while enhancing its capacity to deliver comprehensive heating, ventilation, and air conditioning services

Bathroom ITALY: Gessi’s trajectory of consistent growth and the strength of an industrial business model defined by continuous evolution have earned it the eighth position in the latest edition of the Mediobanca study, “The Main Italian Companies” , which analyzes 1,084 groups and 2,358 firms. This recognition confirms Gessi’s status as one of the most forward-looking players in the Italian industrial landscape, highlighting its dynamism, robust financial performance, interna

IKEA USA: IKEA is planning to increase the share of products manufactured in the United States as higher tariffs continue to drive up the cost of importing furniture, according to a Reuters report. The move represents a shift for the Swedish furniture retailer, as only around 15% of the products currently sold in its US stores are domestically made, compared with significantly higher levels of local production in regions such as Europe and Asia. IKEA previously operated a man

GST INDIA: The Goods and Services Tax (GST) Council has cut the tax rate on renewable energy devices and their manufacturing components from 12% to 5%, with the revised rates coming into effect from September 22 this year. To compensate state governments for potential revenue losses, the Council has simultaneously increased the GST on coal and lignite from 5% to 18%. In another key move aimed at supporting energy storage, the GST on non-lithium-ion batteries—including lead-ac

JV JAPAN: Copeland and Daikin, two global leaders in heating, ventilation, and air conditioning (HVAC) technologies, have announced the expansion of their existing joint venture into the European market. Under this extended collaboration, the companies will jointly introduce advanced inverter swing rotary compressors, along with power electronics and control solutions, specifically tailored for residential heat pumps in Europe. The partnership highlights both companies’ commi

Ignacio Sánchez Villares Appointed as Managing Director of Leroy Merlin Italia Italy: Leroy Merlin Italia has appointed Ignacio Sánchez Villares as managing director. He moves from leading Leroy Merlin Brazil within the Adeo Group. A long-time executive, Sánchez previously held senior roles in Spain and played a key role in the Akí–Leroy Merlin merger in 2018. Source: DYI+

Middleby to Sell Majority Stake in Residential Kitchen Unit, Including European Brands, for USD 885 Million United States/Europe: Middleby has entered a definitive agreement to sell a 51 percent stake in its Residential Kitchen business to affiliates of 26North Partners, valuing the unit at USD 885 million. As part of the transaction, several European brands, including AGA Rangemaster, previously wholly owned by Middleby, will move under the ownership of 26North Partners. Mid