HVAC market heat transfer company Evapco Inc. has purchased a majority stake in Semco’s refrigeration and air-conditioning division based in San Paulo, Brazil.
Terms were not disclosed.
The HVAC construction company is now known as Evapco Semco Equipamentos de Refrigeração Ltda. The current management staff remains in place.
“This is one of those ‘2+ plus 2 equals 5’ business opportunities that will benefit many customers in South America,” said William Bartley, Evapco president and CEO. “For Evapco, the Semco business is a good fit for two primary reasons. First, it gives Evapco a manufacturing presence in South America as we grow our global footprint. Second, the extremely high quality people employed by Semco fit very well into Evapco’s business culture which is driven by the philosophy, ‘people make the difference.’ ”