HVAC controls manufacturer Danfoss has acquire Chatleff Controls Inc. The agreement was expected to be final Oct. 1. Terms were not disclosed.
Chatleff Controls is based in Austin, Texas, and markets connectors and distributors for the U.S. residential air-conditioning market. The company has 250 employees and had net sales of approximately $42 million in 2006.
“With Chatleff Controls joining Danfoss, we will become a solutions provider in this area in addition to being a component manufacturer,” said Kim Fausing, president of Danfoss’ refrigeration and air-conditioning division. “This is a natural result of a market movement in the direction of supplying thermostatic expansion valves assembled together with connectors and distributors.”
Fausing added that he believes the move will put Danfoss among the most complete and comprehensive suppliers of compressors and controls for the U.S. market.
The CEO and owner of Chatleff Controls, Raymond G. Henderson, said he welcomes the prospect of joining the Danfoss Group.
“Danfoss and Chatleff Controls are both family-owned companies with strong and dedicated values that match each other well,” he said.
Danfoss purchases Chatleff Controls
October 1, 2007