TT · 10-Q · 2026Q3 · Full report

Acquisitions and Divestitures

Trane Technologies plc · 2026-10-29 · Importance 34 · Surprise 42

On February 17, 2026, Trane acquired Stellar Energy Americas, a data center cooling-solutions provider, whose results are reported in the Americas segment. During the nine months ended September 30, 2026, it also acquired the remaining interest in LiquidStack, transport refrigeration distributors, and an exclusive sales channel for Trane products; these businesses are reported in the Americas and/or EMEA segments. The company acquired a 49% interest in Kieback&Peter, reported as an equity-method investment in EMEA. It paid approximately $823 million in cash for acquisitions and equity-method investments during the nine-month period, and announced an intended acquisition of Cancoil Thermal Corporation expected to close no later than the first quarter of 2027.

Key facts

• Trane Technologies paid approximately $823 million in cash for acquisitions and equity method investments completed during the nine months ended September 30, 2026. source
• In October 2026, Trane Technologies announced its intent to acquire Cancoil Thermal Corporation, a current supplier, with the acquisition expected to close no later than the first quarter of 2027 and to be reported in the Americas segment. source
• Trane Technologies acquired Stellar Energy Americas, Inc. on February 17, 2026; the acquisition’s results are reported in the Americas segment from the acquisition date. source
• During the nine months ended September 30, 2026, Trane Technologies acquired all remaining interest in LiquidStack, a data center liquid-cooling provider, and reports it in the Americas segment from the acquisition date. source
• During the nine months ended September 30, 2026, Trane Technologies acquired transport refrigeration distributors reported in the Americas and EMEA segments from their respective acquisition dates. source
• Trane Technologies acquired an exclusive sales channel for Trane products reported in the EMEA segment from the acquisition date. source
• Trane Technologies acquired a 49% interest in Kieback&Peter, reported as an equity method investment within the EMEA segment. source