Trane Technologies to Acquire Cancoil Thermal, Adding 450 Employees and North American Manufacturing

Trane Technologies (TT) said Wednesday it agreed to acquire Cancoil Thermal Corporation, a North American heat-transfer products manufacturer, to strengthen supply chain resiliency and expand thermal management capabilities. Financial terms were not disclosed. The deal includes Cancoil's manufacturing facilities in Ontario, Canada, and Jacksonville, Texas, along with more than 450 employees. Founded in 1983, Cancoil makes fluid coolers, air-cooled condensers and custom finned-tube coils for data centers, food processing, refrigerated warehouses, supermarkets, schools and hospitals. Cancoil is an existing supplier to Trane's chiller and airside businesses. The transaction is expected to close before the end of 2026, subject to customary closing conditions and regulatory approval.