Corporate/Finance
-
Courtesy of Johnson Controls.
Johnson Controls continues manufacturing offload, agrees to sell its commercial PVC business
The deal represents further portfolio trimming for the building automation firm, following two recent divestitures of light commercial and residential HVAC and air distribution assets.
By Joe Burns • Aug. 16, 2024 -
ronstik via Getty Images
PDM Group joins Orion Group network to broaden reach, boost HVAC service capabilities
The New Jersey-based HVAC service provider will work with G.E. Mechanical, part of one of Orion’s core businesses, Astra Service Partners, in a move expected to expand the service areas of both companies.
By Nish Amarnath • Aug. 9, 2024 -
Pgiam via Getty Images
JLL’s Work Dynamics revenue surges 17% year over year, leads Q2 boost
Workplace management revenue reached just over $3 billion in the second quarter, while an improved office sector fueled leasing growth in that period, the firm said.
By Nish Amarnath • Aug. 7, 2024 -
Riccardo Savi via Getty Images
Trane Technologies commercial HVAC business backlog grows to $7.5B
The company grew commercial HVAC organic bookings in the Americas more than 20% year over year, led by continued strength in data centers, education, healthcare and high-tech industrials, it said.
By Joe Burns • Aug. 6, 2024 -
Permission granted by Cushman & Wakefield
Cushman & Wakefield sells maintenance, repair and project-management business CWFS to Vixxo
The deal for the former QSI brand will help Vixxo provide convenience stores and other multisite retail operators with equipment rollouts, HVAC-R installations and more.
By Joe Burns • Aug. 5, 2024 -
Permission granted by Schneider Electric
Schneider Electric’s Q2 revenue in North America soars amid growth in energy management
Energy management revenue organically rose 15.5% year over year to nearly $3.4 billion in North America, despite contending with supply chain challenges, the company said.
By Nish Amarnath • Aug. 5, 2024 -
Andrey Semenov via Getty Images
Data center sales jumped 138% last quarter, Modine says
The company is adding more capacity for its data center products, and much of that available capacity is slated to come online later this year, CEO Neil Brinker said.
By Nish Amarnath • Aug. 2, 2024 -
Johnson Controls posts backlog growth amid commercial HVAC boom, announces retirement of CEO
The company’s building solutions backlog in North America grew 14% year over year to $9 billion as it offloaded two non-core businesses, pivoting away from manufacturing.
By Joe Burns • Aug. 1, 2024 -
Cushman & Wakefield’s services revenue declines in Q2, offsetting leasing growth
The company has agreed to divest a non-core business and expects about $130 million in gross cash proceeds that will be used for strategic growth opportunities, CFO Neil Johnston said.
By Nish Amarnath • July 30, 2024 -
Kevin Dietsch via Getty Images
Honeywell’s building solutions business swells, offsetting drop in products
The building solutions business grew sales 14% in the quarter, including a 20% jump in project sales as a result of strength in the data center, healthcare and energy sectors, CFO Greg Lewis said on an earnings call.
By Joe Burns • July 29, 2024 -
MOZCO Mateusz Szymanski via Getty Images
CBRE continues facilities management growth in Q2’ 2024
While the office leasing market stabilizes, the company plans to continue expanding its facilities management business through mergers and acquisitions, CEO Bob Sulentic said on an earnings call.
By Joe Burns • July 25, 2024 -
Sean Gallup via Getty Images
Johnson Controls, Bosch reach agreement for light commercial, residential HVAC assets
The proposed sale is part of Johnson Controls’ ongoing restructuring intended to simplify its portfolio to focus on providing solutions for commercial buildings and data centers.
By Joe Burns • July 24, 2024 -
Coffeekai via Getty Images
Johnson Controls agrees to sell commercial, multifamily business amid residential HVAC downturn
Products that are part of the deal include terminal units, dampers, filters, fans and other equipment offered under the Koch Filter, Titus, Ruskin, Krueger, PennBarry and Tuttle & Bailey brands.
By Brian Martucci • July 17, 2024 -
Justin Sullivan via Getty Images
Google cuts on-site carbon emissions but struggles to contain data center electricity use
Despite implementing demand response programs, electrification efforts and power purchase agreements, AI’s computational requirements have led to increases in the company’s emissions.
By Joe Burns • July 11, 2024 -
ronstik via Getty Images
Orion’s Leo FM expands reach through partnership with RSM Facility Solutions
The partnership will help property managers and facility operators optimize work order management and integrate predictive maintenance tools, Orion’s co-CEO says.
By Nish Amarnath • July 11, 2024 -
Retrieved from Mainspring Energy on July 10, 2024
Mainspring Energy announces first reseller partners, channel partnership executive
Its newly formed reseller sales channel will help it to continue expanding its fuel-flexible power generator solution across the U.S., the company says.
By Joe Burns • July 10, 2024 -
FangXiaNuo via Getty Images
US office vacancy rates break 20% for first time ever
Preliminary second quarter data from Moody’s shows the third straight record-breaking quarter beyond previous historic peaks seen between 1986 and 1991.
By Joe Burns • July 9, 2024 -
Fahroni via Getty Images
Canada Infrastructure Bank invests $100M in deep energy retrofits across aging buildings
GDI Integrated Facility Services will channel the loan toward implementing measures that are expected to cut greenhouse gas emissions in each building by at least 30% annually.
By Joe Burns • July 8, 2024 -
Retrieved from ASHRAE on July 02, 2024
ASHRAE establishes Center of Excellence for Building Decarbonization
The center will track emerging issues and trends, provide reliable technical information and coordinate joint initiatives, ASHRAE says.
By Joe Burns • July 2, 2024 -
Simonkr via Getty Images
CBRE acquires Direct Line Global, bolstering data center technical services
Direct Line Global, which provides design, installation, maintenance and management solutions and server support infrastructure, will operate as part of CBRE’s data centers solutions business.
By Joe Burns • June 21, 2024 -
The image by Peretzp is licensed under CC BY-SA 3.0
Constellation, Vistra and PSEG could be next to ink nuclear-data center supply deals: S&P
Higher power prices are creating opportunities for nuclear operators to serve data centers that co-locate nearby, S&P Global Ratings said.
By Robert Walton • June 18, 2024 -
Justin Sullivan / Staff via Getty Images
WeWork taps new CEO from Cushman & Wakefield as it exits bankruptcy
John Santora, a more than 40-year Cushman & Wakefield veteran, has been appointed as CEO and director, effective June 12, WeWork said.
By Nish Amarnath • June 13, 2024 -
Gorodenkoff via Getty Images
Johnson Controls launches global data center business
The new entity will focus on leveraging Johnson Controls’ scale to provide integrated solutions to data center customers as the company sees surging revenue from this market.
By Joe Burns • June 11, 2024 -
FangXiaNuo via Getty Images
Sustainability upgrade value could offset office fit-out costs as price increases slow
Green energy solutions and low-carbon materials could offer long-term returns on investment, according to fit-out guides by CBRE, Cushman & Wakefield and JLL.
By Joe Burns • Updated June 12, 2024 -
Joe Raedle via Getty Images
Insurance costs of US commercial buildings could jump almost 80%, on average, by 2030: Deloitte
To combat rising costs, driven by increasing climate risks, property owners should consider prevention measures, self-insurance and relocation, a report says.
By Joe Burns • June 7, 2024
